Easton Investments takes a 19.9% stake in AAM Advisory
31 January 2013
News, Asia, Australia, Singapore
By Asia Asset Management
Expatriate-focused financial advisory firm AAM Advisory Ltd, has announced that Easton Investments Limited, an Australian-based wealth management and investment business, has purchased a 19.9% equity stake of its business.
AAM Advisory is licensed by the Monetary Authority of Singapore and provides financial advisory services and financial planning solutions to Singapore’s growing affluent, HNWI community and expatriates living in Singapore. Since 2009, AAM Advisory has become one of the fastest growing financial advisory companies in Singapore, servicing more than 1,500 clients and with more than US$250 million in assets under advisement.
AAM Advisory and Easton Investments’ partnership will not only bring significant investment for local business expansion but will be of particular benefit to AAM’s existing and future Australian clients. Offering them the flexibility of a complete offshore and onshore advisory service from their time spent overseas until their return to Australia. With more than 20,000 Australian expatriates residing in Singapore and growing, this is an important growth segment for AAM.
Matthew Dabbs, CEO of AAM said: “We are delighted to be partnering with Easton Investments as we enter our next stage of accelerated growth in the Singapore market. Singapore has become one of top four financial centres globally and Asia’s premier wealth management hub. With our collaborated resources and the backing of a trusted Australian listed partner, we are excited about the opportunities to further penetrate this high growth, high value market and to better serve our existing and future clients”.
Easton Managing Director Campbell McComb added: “We have been exploring expanding into the Singapore market for some time now and it was a matter of finding the right partner. AAM has not only demonstrated strong growth in what has been a particularly difficult global market, but they have done so with the highest levels of systems and infrastructure which have been constantly improving. We believe AAM’s proven track record, strong business model and highly experienced team will make a fantastic complement to our existing businesses within Easton Wealth Asia.”
The intended change in shareholding has been approved by the Monetary Authority of Singapore and is effective immediately.
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