Stanford Brown acquires boutique financial advice firm

In a statement, Stanford Brown chief executive Jonathan Hoyle said that Ian MacRitchie, principal and founder of IMR Financial Advisors, chose Stanford Brown to be the successor for his firm.

"Ian has built a robust firm centred around high touch customer service, and we are very excited by the opportunity to be working with his clients," Mr Hoyle said.

"Ian had a clear vision of how he wanted his clients to be cared for into the future, which made connecting the similarities in the values of both firms a much easier task."

Mr Hoyle added that the acquisition of IMR is another "important milestone in our strategy to achieve a balance of organic growth and acquisitions that provide retiring Principals an opportunity to transition their clients to a firm that values customer service above all else".

Mr MacRitchie said he felt comfortable with the Stanford Brown team.

"They have a wonderfully young and vibrant culture; one that my clients will relate well [to]. I have been particularly impressed with the calibre and integrity of the Stanford Brown advisers," he said.

"This was the most important factor for me in choosing my new home."

The acquisition of IMR will take Stanford Brown funds under management to approximately $1 billion.

Stanford Brown was previously a Genesys Wealth Advisers member firm before the group set up its own AFSL and its directors established a non-aligned dealer group, The Lunar Group, in April 2015.