It is with great pleasure that I announce the merger of Minchin Moore with Melbourne firm, Professional Wealth.
The principal and founder of Professional Wealth, Doug Turek is a long-time friend and colleague of ours and whilst Minchin Moore was not looking to merge or acquire, when the Professional Wealth opportunity presented, we identified our firms as a rare fit.
Doug and I have known each other for several years, and I have long admired his business from afar.
An adviser of some renown, Doug was ranked No.6 in the inaugural Barrons Top Financial Advisers list in 2017, and has remained in the list every year since. With a PhD in engineering, a strong capacity for thought leadership, and a career with Boston Consulting Group (consulting to the financial services sector) under his belt, Doug was well positioned for a career in advice when he started his business 17 years ago. Since then, Professional Wealth has grown and prospered.
A strong believer in evidence-based investing, Doug has garnered a significant profile in the media. For over seven years he was a regular finance talk-back guest Saturday mornings on AM 774 Victoria-wide. For more than a decade he wrote on investment strategy and portfolio design for Alan Kohler’s Eureka Report. He currently writes for The Australian Wealth section and can be heard on their Money Cafe podcast.
Following the merger, Doug will take a seat at Minchin Moore’s Investment Committee, helping to guide our portfolio strategy into the future, and adding to the committee’s already considerable experience and academic competence.
Underpinning our decision to move forward has been the very strong alignment that our firms have in terms of investment philosophy, client service, professionalism, and culture.
Doug laughs when describing his firm as “Hotel California”, noting that no staff member has ever left. Such is the strong bond and dedication with his team.
The merger will bring five staff, 120 clients and over $500 million of funds under advice to the Minchin Moore Business, bringing our total funds under advice to around $2.4 billion and our team to around 40 staff.
Minchin Moore’s office in Melbourne (at 350 Collins Street) will further enhance our capacity to service clients in Victoria and build on our existing offices in Sydney (Mosman and CBD), Adelaide, Orange and Walcha.
We are delighted to welcome Doug and his team to Minchin Moore and hope it will allow all of us to grow personally and professionally together. Ultimately the merger represents another steady step along the path of realising our Vision to be Australia’s most Trusted financial advice practice.