Craigs acquires Polson Higgs Wealth Management

Craigs Investment Partners Limited (“Craigs”) and Dunedin-based financial planning and wealth management firm Polson Higgs Wealth Management Limited (“phwealth”) have entered into an unconditional agreement for Craigs to acquire phwealth. 

Craigs CEO Simon Tong says phwealth brings recognised financial planning capabilities to the Craigs group.

“We are attracted to the depth and breadth of phwealth’s financial planning and wealth management philosophy. We share a commitment to achieving great client outcomes and considering long term financial and life goals alongside each client’s unique circumstances and needs,” says Tong.

“The strength of phwealth’s financial planning and wealth management service is underpinned by its highly talented and motivated team. phwealth’s evidence-based, reliable approach to investing has been honed over 25 years. Expanding into adjacent financial planning services to grow our wealth management offering is an important part of Craigs’ strategy and we are excited about the capability phwealth adds to our wider team.”

Following the acquisition, phwealth will continue to operate its business as usual, alongside Craigs’ nationwide advisory network, as a Craigs company. 

“phwealth and Craigs share a commitment to exceptional client experience and outcomes. phwealth advisers will continue to lead their client relationships and services, with Craigs adding national scale and global reach,” says phwealth CEO Rhodes Donald.

“phwealth has a distinctly Otago and Canterbury origin story,” says Donald, “which is now boosted by the integration into Craigs. The future development of our business needed this shift. We couldn’t have asked for a better fit.”

Craigs’ Head of Private Wealth and Markets Jeremy Williamson said integration would happen over time with client outcomes the priority.

“phwealth brings strong capability and experience in financial planning and we will work together to determine the most effective way to integrate our businesses over time to deliver the best outcomes for clients. Ultimately, this agreement will bring the best of both firms together to offer a broader range of financial planning and wealth management services.”

The acquisition grows the Craigs’ group to over 200 advisers across 23 locations with combined funds under management of over $35bn.  

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