Boutique financial advisory and investment management firm Crystal Wealth Partners (Crystal Wealth) has announced the appointment of former Multiport chief executive and founder John McIlroy as a new company director and shareholder.##
Crystal Wealth’s focus is to offer clients a range of discretionary and non-discretionary accounts to suit their purposes with its customer base being predominantly made up of high net worth individuals and self-managed superannuation fund (SMSF) trustees.##
The firm is looking to draw upon McIlroy’s experience in both the managed account space and SMSF administration to help it grow in the immediate future.##
“To have John’s breadth of experience with high net worth clients across a range of investment structures, including SMSFs and managed accounts will be a great asset for the business,” Crystal Wealth executive director Tim Wedd said.
“Crystal Wealth Partners is not institutionally owned or affiliated and our view is that more professional advisers will be looking for these types of client solutions in the future.##
“We believe that advisers will be looking for more engaging client propositions post-FOFA (Future of Financial Advice reforms) and we have designed our managed accounts framework specifically to include discretionary and non-discretionary direct investment services that can accommodate varied client and adviser needs.”
##McIlroy told InvestorDaily his objective is to enable the firm to grow both organically and through acquisition.##
In particular, Crystal Wealth is looking to take advantage of potential opportunities presented by the new SMSF accountants licencing regime and changes in practitioner strategies resulting from the current acquisition activity in the advisory space.
##”I am excited about the new venture and looking forward to building on the organic growth of the business through acquisitions of appropriate high net worth client books and recruiting or partnering with like-minded advisers and accountant,” McIlroy said.##
McIlroy finished his stint as chief executive of Multiport in June of this year.
