Insurance broking group acquires majority share in advice firm

As overseas acquisitions continue to ramp up in the domestic financial services space, the latest firm to have a chunk snapped up is Wealth Architects.

Envest Group, part of global insurance distribution group Ardonagh Group, has acquired a 60 per cent shareholding in the Queensland-based firm.

The transaction will give Wealth Architects access to Envest’s broader financial services distribution network, expand the company’s specialist risk advisory division, and provide future growth capital for mergers and acquisitions (M&A).

The firm, which is led by chief executive Callum Mitchener, said it will use the new shareholder to accelerate its national expansion.

“This deal also gives us significant runway to expand the Wealth Architects business to meet rising consumer demand for trusted financial advice, grow our footprint to serve clients nationally and enhance our specialist risk capabilities,” Mitchener said.

“Growth capital also provides us the opportunity to welcome other like-minded firms and advisers into the Wealth Architects Group, to share in our success.

“As part of the transaction, we purchased PSC Life from Envest and will merge this highly complementary business into Wealth Architects.”

Wealth Architects has, itself, been active on the M&A front, with 14 acquisitions since 2018 including several in regional Australia and two already in 2025. It expects to integrate PSC Life into the Wealth Architects business by the end of the year.

Leigh Quade, former principal of PSC Life, said: “After a challenging period in recent years, the financial advice sector is now benefiting from a number of tailwinds, including positive regulatory sentiment and greater demand for quality advice.

“In this context, greater scale brings strength, efficiency and more rapid growth opportunity. Joining Wealth Architects brings these benefits for our staff and, ultimately, our clients.”

The expanding team at Wealth Architects will continue to be led by Mitchener, while principals Kim Siauw, Luke Considine, Quade, and Jay Brown will join the executive team.