InvestAhead's three directors - Chandra Wirasinha, Mike Galgut and Don Shar - clients and staff will integrate with Centric Wealth and relocate to its Macquarie Place, Sydney, offices.
Following the deal, Centric Wealth will have $3.7 billion in funds under advice and 46 advisers.
Centric Wealth joint chief executive officer Michael Pillemer said its model from the outset was the acquisition of high net worth companies. It aims to acquire four to six high-end firms a year and has made 15 acquisitions in three years.
"[InvestAhead's] business focus, commitment to specialist service and cultural values are closely aligned with Centric," Pillemer said.
Centric Wealth has a high ratio of assets under advice per adviser. On average each planner had 65 clients, Pillemer said.
"The benefits of that are that advisers can spend less time on management and more time on meeting the client's needs," he said.
InvestAhead managing director Chandra Wirasinha said: "We made the decision to merge with a larger company which had similar values to InvestAhead in order to enhance the services offered to our clients."
The three InvestAhead directors will stay on as advisers. Clients of InvestAhead include a number of publicly listed Australian companies, large law firms and financial institutions.
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