Advice firms announce strategic merger

Evalesco Financial Services and Principal Edge Financial Services said they would pool their resources to provide the combined entity access to greater efficiency and growth opportunities.

Evalesco chief executive Jeff Thurecht will continue in the CEO position, leading the combined business, while Principal Edge founder Bruce Kluk will stay on as director, owner and financial adviser, prioritising the business’ long-term growth through its family office offering.

The six financial advisers from Principal Edge will also remain with the business and the new senior leadership team will be led by Thurecht, along with Evalesco’s director, Marshall Brentnall, and general manager, Belinda Marley-Wallace.

Thurecht said he is pleased to be taking the next step with his business alongside Evalesco.

“Our merger is a natural evolution that aligns with our shared values and vision for the future; two teams committed to providing advice for a healthy, wealthy and happy life,” Thurecht said.

“Together, we are excited to build a stronger, more resilient advice offer that will continue to provide exceptional service to our clients.

“Bruce has built a firm that is an institution within its community and has made an immense contribution since the late 1980s. We are grateful to have his expertise as we bring together two businesses, with a strong growth trajectory, so we can continue to provide high-quality advice for our loyal and growing client base.”

Kluk added: “I am proud of what we have achieved at Principal Edge, over the last 36 years, and I’m confident that this merger will ensure continued success and growth. I look forward to supporting the new leadership team and contributing to our long-term vision.”

Evalesco employs 17 female staff, six of which are financial advisers. Given the advice profession’s historical lack of women, Thurecht said he is proud to continue supporting the career development of all his staff through this merger.

“Our people are our greatest asset, and this merger will create new opportunities for growth and development,” he said.

“By providing ongoing support and opportunities, we ensure that our female advisers can build fulfilling and rewarding careers with us. We remain dedicated to fostering a diverse and inclusive workplace where everyone can thrive.”