A race-car enthusiast, a former cricketer and now an NRL legend. High-net-worth adviser Charlie Viola has hired a new lieutenant as he shoots for $10 billion to $12 billion in assets within five years after striking out on his own following a management buyout from Pitcher Partners in September.
Viola has signed Cooper Cronk, who played 372 games for Sydney Roosters and Melbourne Storm, as a brand ambassador for Viola Private Wealth. Cronk’s expected to help broaden out the freshly minted firm’s client base, Viola told Street Talk.
Viola, who oscillates between No.1 and No.5 spots on the Barron’s ranking of Australia’s top financial advisers, claims to have a client book full of C-suite executives, investment bankers and first-generation founders with $3 million to $200 million in investible wealth. Nearly all of his firm’s $2.5 billion in assets are from these cohorts, he said.
“Cooper has already worked hard to understand the value we add. His ability to then bring that to his networks and support those in his sphere will mean we can continue to educate and add to value people from all walks of life, including professional sportsmen who often generate their income over a truncated period,” Viola said.
“Success is about more than just what you achieve on the field – it’s also about having a trusting and knowledgeable network of people around you, [and] sharing insights and experiences,” Cronk said.
Eyes on M&A and restless advisers
Viola is betting on three thematics: organic growth, hiring advisers from other firms, and selective M&A opportunities.
Prior to hanging up his own shingle, Viola grew his unit at Pitcher Partners from zero to $3.5 billion over two decades. At the time of the MBO, Viola took $2.5 billion with him and left the remaining assets under management with Pitcher Partners.
Viola told Street Talk he sees promoting internal talent – and offering them equity – as the key contributor to growth. He’s hoping to pick off what he says are the “restless” financial advisers at the big shops.
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