Compass Financial merges with Coastal Advice Group

Compass Financial merges with Coastal Advice Group

Coastal Advice Group (CAG) has announced a significant accomplishment in its journey of expansion and growth; onboarding three businesses within just eight weeks, marking a milestone for the company.

Following the acquisitions of both RI Advice Brighton and Wealth for Life Financial Planning, the company has now merged with Port Macquarie Financial Advice firm, Compass Financial Management, which represents a significant step forward in expanding CAG’s footprint and enhancing its service offerings.

Adding further depth and expertise to the group, Coastal Advice Group welcomes two new  shareholders, whose depth of wisdom and experience will enrich the collective knowledge base of the organisation.

Senior Financial Adviser and Proprieter at Compass Financial Management, Robert Reid said this merger is a partnership that aligns in values, and more importantly, the needs of their clients.

“We are excited to join a progressive, like-minded, financial planning organisation. This new association with the Coastal Advice Group offers our clients access to a deeper and more engaged client experience as well as securing Compass Financial’s future as a trusted partner and provider of financial advice in our region, for the long term,” Robert said.

This strategic addition of talent reflects CAG’s commitment to fostering a culture of excellence and continuous improvement, driving the company’s continued success in the financial planning landscape.

CEO of Coastal Advice Group, Daniel Brown said that their team is pivotal to the continued success of the business, so ensuring the merger transition is a seamless experience for all involved has been a priority.

“Our success is a testament to the dedication and hard work of our team. After successfully executing four strategic mergers and acquisitions within the last eight months, three of those being in the past eight weeks, our team has meticulously honed our integration process to ensure seamless transitions for all stakeholders including vendors, staff, and clients,” Daniel said.

“Our commitment to excellence shines through as we continuously refine our methods to deliver unparalleled value and continuity in every transaction.

“With our unwavering focus on fostering a culture of collaboration and innovation, we are confident in  our ability to navigate challenges and seize growth opportunities.”

The recent expansion initiatives are aligned with Coastal’s growth plan, aimed at solidifying its position as one of Australia’s premier providers of financial advice. 

COO of Coastal Advice Group, Mitch Ramsbotham said the pursuit of these mergers has been strategically planned to evolve the business.

“We have strategically pursued premium businesses in these three transactions, and when we  focus solely on the growth aspects, the opportunities for best practices and process refinement that these transactions bring to both our day-to-day operations and our vision for growth are extremely exciting,” Mitch said.

“This  evolution of Coastal Advice incorporates over 100 years of collective experience in the Financial  Services sector through the involvement of the four vendor principals.

“This not only provides us  with the manpower and capacity for the next steps but also a wealth of knowledge and  opportunities within the business for the right people to lead us forward.”

The team now stands at 46 staff, including 14 Financial Advisers with over 300 years of combined industry experience with two more existing staff about to commence their professional years.

“Over 12 months of discussions has led to a great outcome, ensuring a win-win scenario for all involved parties. Most importantly, this expansion allows our current staff to expand their roles  and contribute to our vision of growth,” Daniel said.

Thanks to the size and scale the business is now experiencing, Coastal is offering specialist advice and customer experience with dedicated roles to support clients in the areas of Insurance and Aged Care, enabling the core team to focus on Retirement Planning and Wealth Management.

Senior Financial Adviser and Propriertor at Compass Financial Management, Robert de Lepervanche said this step is just one of the many they plan to take to become the best of the best along the Coast.

“Our journey with Coastal Advice Group signifies not just a merger, but a strategic partnership aimed at elevating the standards of financial planning across Australia’s coastline,” he said.

IMAGE | Robert de Lepervanche (Senior Financial Adviser and Proprietor at Compass Financial Management.), Daniel Brown (CEO Coastal Advice Group), Robert Reid (Senior Financial Adviser and Proprietor at Compass Financial Management) (left-right).

Coastal Advice Group

Coastal Advice Group is a leading financial advice practice incorporating Newcastle Financial Planning Group (NFPG), Central Coast Financial Planning Group (CCFPG) and Sydney Wealth Advisers (SWA).

They combine strong compliance, technical knowledge, and a market leading client experience to provide high quality wealth creation and retirement planning solutions for their clients.

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