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Alvarium Wealth has bought another advisory firm, or part of it, as the group continues on an acquisition spree. The Auckland-based CP Wealth, headed by Brigette Manaia, joined the Alvarium network last week following a restructure of the advice business. As part of the change, the risk arm of CP Wealth has split into a separate entity, operating as Spratt Insurance Brokers, while Alvarium absorbed the investment business. Spratt retains a referral relationship with CP Wealth. Post-purchase, Alvarium has 11 advisers under its financial advice provider licence while the group has also adopted the trading name of CP Wealth, according to corporate disclosures. Manaia previously worked at NZAM, which Alvarium (then known as LJ Partnership) bought into in 2018 as the joint venture between a UK private equity outfit, headed by Andrew Williams, and the family office of Christchurch luminary, Ben Gough, began building the NZ financial services empire. She worked as an adviser in the Auckland office of Christchurch-headquartered, Cambridge Partners, before establishing CP Wealth. Since the NZAM buy, Alvarium has purchased Pathfinder, another Auckland advice firm, Newton Ross, as well as Salt Funds – the latter deal signed just this August. In April this year, the Canterbury-based community trust, Rātā Foundation, took a 25 per cent stake in Alvarium Wealth. Meanwhile, Alvarium has also hired a new assistant portfolio manager, luring a second person across from Russell Investments NZ. Aniket Ghatak moves to Alvarium after more than four years at Russell, the last two as a senior investment analyst. Ghatak will work alongside former colleague, David Kandziora, who shifted to Alvarium in August as portfolio manager, replacing Jeremy Ward. Ward took on a research analyst role at Generate. Prior to his latest job, Kandziora spent five years at Russell as a senior investment consultant: after he left the business, Ghatak took over his duties in the interim. At the time, a Russell spokesperson said the firm was “recruiting into the team to support this transition”. Alvarium also named David Lewis as chief investment officer in May this year. Lewis served as Milford Asset Management deputy chief investment officer for eight years until 2021.
