The Envest Group has acquired a majority stake in fast-growing financial advisory business Wealth Architects.

The deal establishes a fourth pillar in Envest’s operations, complementing its general insurance activities across authorised representative networks, broking and underwriting agencies. 

As part of the deal, which provides future growth capital for mergers and acquisitions, Wealth Architects has acquired PSC Life. Envest acquired the broader PSC business in October last year. 

Post transaction, Wealth Architects employs 57 staff including 22 advisers. CEO Callum Mitchener says the partnership will strengthen its ability to service customers. 

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

Envest chief investment officer David Ball says the move reflects Envest’s commitment to supporting the growing demand for financial services and trusted advice. 

“Financial planning and personal risk advisory is a natural adjacency for the Envest Group,” he said. “The customer proposition, value chain and success factors in the sector have significant parallels to general insurance broking and the sector is now benefiting from various tailwinds. 

“We look forward to working with the Wealth Architects team to achieve excellent client outcomes and continued business growth.” 

Wealth Architects offers advice on investment products and services, plus life, trauma, income protection and disability insurances.