NZ financial services conglomerate, Amplifi, has added a new advice business to its fold with the formal launch of wholly owned subsidiary Sage Wealth Management last week.
Amplifi, which also owns Mint Asset Management, established the Sage brand last year, hiring Aga Krzeczkowska as senior wealth adviser.
Krzeczkowska comes to Sage from Hobson Wealth where she was an investment adviser with responsibility for about $200 million of client funds. She has 17 years experience in the financial services industry across the UK and NZ.
At Krzeczkowska she will manage portfolios for a range of “private clients, charities and trusts” as well as contributing to the investment committee and broader strategy of the new advice business.
“Aga has specific experience in looking after migrant investors and international assets (pensions),” the Sage website says. “She is a subject matter expert on responsible investment.”
Sage has also appointed Makao Investments as an independent asset consultant.
Amplifi will look to grow adviser numbers in Sage as part of a multi-pronged plan to create a diversified financial services group.
The Amplifi business – headed by former senior ANZ executive, Fred Ohlsson – set up as a joint venture between Mint and Auckland private equity firm, Ascentro Capital Partners late in 2021.
Last year Amplifi took a 60 per cent stake in Nelson-based advice practice, Totara Wealth Management.
But as well as targeting similar advisory business shared equity deals, the 100 per cent-owned Sage offers a differentiated service, according to Ohlsson.
“Sage Wealth Management is an Auckland-based company and its capability to provide independent financial advice is a great complement to both Mint Asset Management and Tōtara Wealth Management already under Amplifi Group,” he said in a release.
Despite the ownership links to Mint, the similarly herb-themed Sage has no “obligation to recommend products issued by Mint Asset Management Limited or other entities within the Amplifi Group, and we do not receive any commissions, fees or other incentives for recommending products issued by Mint Asset Management Limited or other entities within the Amplifi Group”, a disclosure statement says.
The Sage board includes Mint executives Rebecca Thomas and Simon Haworth along with Ascentro Partners leaders, Michael Johns and Grant O’Neill.
Krzeczkowska, who has a minority share in Amplifi, said in the statement that Sage “prides itself on being independent and client-centric, putting clients outcomes first is our main priority”.
“We have a transparent fee-based service structure and wealth model, and a strong investment process,” she said.