IFA group Koda Capital has merged with Perth-based Redwood Wealth Alliance for an undisclosed sum.
Koda has 46 partners, including 38 advisers managing in excess of A$10bn (£5.54bn, $6.25bn, €6.4bn) of client funds. Koda was established in 2014. Redwood was established 26 years ago and has team of over 20 professionals with seven advisers supported by an investment and administration team.
As part of the merger, Redwood will become part of the broader Koda Capital professional partnership. Also, key Redwood personnel will hold partnership equity in Koda.
Koda is majority owned by its partners and staff, along with the strategic support of US-based Emigrant Partners.
Steve Tucker, Koda chairman, said: “Over the last seven years, we have established Koda as a leading independent wealth advisory business, owned by its partners and staff and free from the conflicts of interest that come with vertical integration.
“Koda’s independent advice model has enabled us to provide a compelling offer to clients, grow client funds to scale and deliver strong revenue and earnings growth for our shareholders.
“Our merger with Redwood provides Koda with a strong platform to bring this offering to clients in the important, dynamic and growing market Western Australian market.”
