A LIMERICK-based wealth management company has been acquired by Killarney’s Gallivan Financial.
FJ Hanly and Associated were acquired by the County Kerry firm for an undisclosed sum.
This acquisition will bring Gallivan Financial’s overall assets to over €400million, with plans to grow the business to over €1billion over the next 18 months through a combination of further acquisitions and organic growth.
Gallivan Financial is majority owned by the Gallivan family, who sold their Gallivan Murphy Insurance Brokers (GMIB) to US insurance broking group Assured Partners in 2022.
Gallivan Financial was not part of that transaction and is now on a major growth trajectory.
A representative said that FJ Hanly and Associates has been dedicated to helping its customers do more with their money for the past 20 years, led by principal Fergus Hanly.
The Limerick company has over 700 clients and approximately €100million in assets under management.
Fergal Smith, Gallivan Financial managing director, said that the acquisition will enable Gallivan Financial to expand into the future.
“The acquisition of FJ Hanly and Associates will enable us to continue to build upon our position as one of the leading wealth management advisory firms in the region. It will also significantly enhance our ability to provide a stronger advice model to all our clients into the future,” he said.
“We are delighted to have the talented team at FJ Hanly and Associates join Gallivan Financial. We are excited to benefit from the skills and in-depth knowledge of its team to help us grow our footprint in Ireland as we look to continue our expansion.”
FJ Hanly and Associates’ founding director Fergus Hanley added that the firm’s ideals are closely aligned with those of Gallivan Financial, saying he was “extremely pleased to be working with Gallivan Financial”.
“I believe we are closely aligned in terms of our shared values and our mutual appreciation of the importance of integrity, honesty, and dedication when working with our clients. I have every confidence that our strategic partnership will bring an enhanced offering to all my clients.”
