Two Old Boys join forces to form new ASX-listed company
December 5, 2023
Two Old Collegians have joined forces to form a new financial services company which is listing on the Australian Stock Exchange.
Lee IaFrate (SPC 1973-1978) and Bradley King (SPC 1995-2000) have been working together for the past 20 years at Armytage Private. They have now joined forces with dealer group CHPW, to create a diversified listed financial services business, under the name of the Australian Wealth Advisers Group (Pending ASX Code: WAG).
Bradley said the group hopes to take advantage of both merger and acquisition opportunities, as well as organic growth in the financial services industry.
“The group is excited to take advantage of the consolidation in the industry post the exit of the banks from wealth and the advisor exits of large institutional firms. There have been a number of transactions that have happened already and the group is ready to take advantage of the next wave.”
Lee and Bradley first met after the merger of their respective stock broking firms in 2001. Lee was a Senior Stockbroker at D&D Tolhurst, while Bradley was in the Settlements department at William Noall. Lee left to join the company he created, Armytage Private which was then part of the soon to be powerhouse funds management firm, Treasury Group, now known as Pacific Current Group. Lee went on to hire Bradley to run the office after he learnt that he was a fellow Geelong supporter as well.
The two have navigated financial markets including the Global Financial Crisis and COVID, two of the most challenging periods in equity markets history.
Lee and Bradley are also joined by two Ballarat Grammarians, Peter Hollick (1963) and Mark Stephen (1979).