It has acquired Nelson-based boutique firm Tōtara Wealth Management, which was founded  by Richard Harden and Meredith Cornelius in 2017.

Cornelius earlier sold her stake to Harden however she will continue to be involved with the firm.

The deal is the first in Amplifi’s quest to become New Zealand’s pre-eminent independent wealth management group of companies.

It says the deal allows Tōtara Wealth to access Amplifi’s deep resource base with increased research and compliance support, and will enable the addition of another qualified financial adviser to support Tōtara Wealth’s growth.

“A more corporate structure ensures longevity and a long-term succession plan,” the company says in a statement.
Tōtara’s investment strategies and advice will remain independent and the advisers will retain their clients.

“There is a strong fit in culture and philosophy between the brands,” Ohlsson says. “Amplifi backs the regionally and locally based operations and both businesses have the expertise and capability to deliver excellent outcomes for clients in a fully diversified manner.”

He says a key part of the Tōtara’s strategy is that all portfolios are tailored to individuals’ personal circumstances rather than one-size-fits-all.

Harden says Tōtara Wealth is free from commissions, quotas and ‘cookie cutter’ financial planning and investment advice.

“Last year we began talking about how we could grow Tōtara Wealth further and position it for the long term in a way that was aligned to our core values, bearing in mind that most of our clients will continue to need advice well beyond our working lives. Though we have no defined retirement timeframes, planning is in our DNA.” 

Cornelius says Amplifi shares “our vision for a network of financial planning and investment advisory businesses. It is gratifying that Tōtara Wealth was identified as the ‘first cab off the rank’ in Amplifi’s work to build such a network, given our company’s reputation as a pre-eminent firm providing independent financial advice.”

“Most importantly for our clients, the Amplifi investment is about longevity and securing the future of Tōtara Wealth while supporting the here and now. Tōtara Wealth will stay local and independent and our clients will receive the same service and experience, now with the backing of a larger national group of companies.”

The investment does not include a broker model. With independent advisers in Aotearoa New Zealand being an important but shrinking cohort, the investment is partly about protecting the space in this market for people to access bespoke advice that is tailored to their circumstances and objectives.