Merchant takes minority stake in Infinity as advice M&A accelerates

US-backed capital partner Merchant Wealth Partners has taken a strategic minority stake in Infinity Financial Consultants, signalling further momentum in Australia’s advice sector consolidation.

The investment positions the Brisbane-based multi-disciplinary firm for an expanded mergers and acquisitions strategy, as external capital continues to target scalable advice businesses.

Merchant Wealth Partners is the Australian arm of New York-based Merchant Investment Management, a global investor known for backing founder-led advisory firms pursuing long-term growth through acquisition.

The deal reflects a growing adviser focus on permanent capital, succession solutions and disciplined M&A execution.

Strategic capital, not private equity

Merchant Wealth Partners took a non-controlling stake, giving Infinity access to permanent capital and transaction expertise.

The structure differs from traditional private equity. Merchant operates as an institutional operating company, not a fund with a fixed exit horizon.

That distinction is increasingly important for advice principals assessing external investment.

Rather than pursuing short-term multiple expansion, Merchant focuses on long-duration partnerships that preserve founder control.

“This isn’t about flipping businesses or imposing short-term return pressures,” says Tim Benson, Group Managing Director at Infinity.

For many advice firms, this model aligns more closely with professional services economics and client retention realities.

Preparing for an acquisitive phase

Infinity Financial Consultants operates across Brisbane, Cleveland and the Gold Coast, offering financial planning, accounting, lending and personal risk advice.

The firm has grown under a multi-disciplinary model, which has become more attractive as regulatory pressure and cost complexity increase.

Benson says the partnership is a deliberate step toward an acquisitive growth phase. “Consolidation across advice and accounting is accelerating, particularly as succession challenges build. We want to act proactively rather than respond defensively to market change.”

The capital support allows Infinity to pursue M&A with greater certainty and discipline.

Why advice businesses remain attractive to investors

Strategic investors continue to target advice firms with:

• Recurring revenue
• Embedded client relationships
• Scalable operating platforms
• Clear succession pathways

Mid-sized, well-governed advice businesses sit at the centre of this trend: they offer enough scale to absorb acquisitions but retain founder leadership and cultural cohesion.

Infinity’s multidisciplinary structure adds further appeal. Integrated advice, tax and lending models can lift client stickiness and cross-service revenue.

For external investors, that translates to more durable enterprise value.

M&A discipline moves centre stage

Merchant’s global network includes more than 125 partner firms across six countries, managing more than US$300 billion ($435 billion) in assets.

In Australia, its focus has shifted toward firms looking to professionalise acquisition strategies.

Benson says Merchant’s experience post-transaction would matter as much as capital. “M&A only works if you integrate properly and protect client outcomes,” he says.

Integration remains the failure point for many consolidators. Cultural misalignment, adviser attrition and system complexity often erode expected value.

Infinity plans to target firms that fit its existing platform, rather than operate as standalone bolt-ons.

Succession pressure drives deal flow

Succession remains a key driver of consolidation across advice, accounting and lending. Many smaller practices face limited internal buyout options and rising compliance costs. Strategic acquirers with permanent capital offer an alternative to trade sales or forced exits.

Infinity expects to position itself as a long-term home for culturally aligned firms seeking continuity for staff and clients.

The firm declined to comment on specific targets but confirmed acquisitions will become a core growth lever.

What this signals for advice firm valuations

Deals like this reinforce several themes shaping advice firm valuations:

• Minority stakes can attract premium capital without surrendering control
• Buyers value governance and integration capability
• Multi-disciplinary models command strategic interest
• Succession readiness underpins enterprise value

For principals, preparation matters. Clean structures, repeatable processes and leadership depth influence both valuation and investor quality.

External capital is increasingly selective.

Advisers face a narrowing window

As consolidation accelerates, advisers face a narrowing window to shape their exit or growth pathway.

Those who wait risk becoming price-takers.

Those who prepare can choose partners aligned with long-term client and staff outcomes.

Infinity’s deal highlights how advice businesses can use strategic investment to stay in control of that decision.

It is conversations like this, the future of this profession, the consolidation and the impact on clients that sits at the heart of insiders community. Join me and the team in stunning Noosa for our INAUS: Investment Leaders Forum from 22nd to 24th March where we will be discussing, off the record, what lies ahead for advice in this country.

Ashley Ryburn

Ashley Ryburn is the Head of Community at The Inside Network, running events, podcasts, webinars and roundtables to connect advisers and share brilliant investment thinking.