Koda Capital (Koda), a leading independent financial advice firm for high-net-worth clients and not-for-profits today announced that it is merging with Redwood Wealth Alliance (Redwood) in Perth, Western Australia.
Koda has successfully grown to be the leading independent wealth management business in Australia with 46 Partners, including 38 advisers managing in excess of $10bn of client funds. Koda was established in 2014 with a founding principle of providing independent financial advice free from conflicts of interest, with no vertical integration or fees earned from products
Redwood was established 26 years ago and was founded on the need to bring together sound, professional investment expertise and strategic advice to busy high net worth individuals. Redwood has grown to a team of over 20 professionals with 7 advisers supported by a strong investment and administration team.
In merging the two businesses together, Redwood will become part of the broader Koda Capital professional partnership. Importantly, key Redwood personnel will hold partnership equity in Koda, consistent with Koda’s principle of staff ownership aligned to client interests.
Commenting on the announcement, Koda Chairman Steve Tucker 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.
Paul Begley, Redwood Managing Director added:
We first met Koda 4 years ago and as we became more familiar with their team and client offering it became clear that we share a common purpose and values. We also recognised that partnering with Koda would enhance our offering to clients and allow us to achieve our long-term strategic objectives. Our relationship with the Koda team, together with our aligned culture and purpose, meant there was only one natural choice when it came to answering the question about a partnership. Koda is the natural future home for Redwood clients, our team, and our partners as we continue to grow and deliver financial peace of mind to our clients in Western Australia.
About Koda Capital
Koda has successfully grown to be a leading independent wealth management business in Australia with 46 Partners, and 38 advisers managing more than A$10bn of client funds.
Koda was established in 2014 with a founding principle of providing independent financial advice free from conflicts of interest, with no vertical integration or fees earned from products.
Koda is majority owned by its Partners and staff, along with the strategic support of US based Emigrant Partners.
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