Capital Haus buys Baker Young in billion-dollar push to reshape Australian wealth advice

Capital Haus has moved to expand its national presence with the acquisition of Adelaide advisory firm Baker Young, one of Australia’s longest-standing private wealth practices.

The deal will see the combined group’s funds under management exceed AUD$1 billion, as adviser numbers and client coverage grow across the country.

Founded more than 40 years ago by Alan Young and David Baker, Baker Young today serves over 6,000 clients and manages AUD$700 million in assets.

Under the agreement, the Baker Young brand will be retained, and senior principals including Young and Baker will continue in active advisory roles.

Capital Haus will also migrate its existing clients to the refreshed ‘Baker Young, a Capital Haus company’ banner, which becomes its flagship advisory business.

A new offering for ultra-high-net-worth clients, Baker Young Private, will be introduced, providing access to wholesale opportunities, global private credit financing and capital raises.

Both firms’ clients will continue working with their current advisers, while gaining access to broader group-level capability, including global research, multi-asset solutions and cross-border services. Baker Young will also gain upgraded institutional-grade infrastructure and portfolio management systems.

The acquisition adds further momentum to Capital Haus’ expansion. Established in Sydney in 2019, the company has since launched offices in Dubai and Zurich and acquired practices in Townsville and Bateman’s Bay.

With the addition of Baker Young’s team, plus new managers from RiverX Investment Management and Active Super, the group now employs 41 advisers and support staff.

Brendan Gow, Founder and CEO of Capital Haus Group, said: “Baker Young has been a cornerstone of South Australia’s advice community for four decades, built on deep relationships and trust. We feel privileged to be the next custodian of that legacy.

“By moving our existing client base across to the Baker Young brand, as well as launching the new Baker Young Private service, this deal represents more than just a passing-the-torch moment. We’re combining heritage and innovation to set a new standard for financial advice at a time when the industry needs it most.”

The acquisition lands at a pivotal moment for the sector. Adviser numbers have halved since 2018, falling from around 28,900 to fewer than 15,300 as at September 2025, even as demand surges.

More than 10.2 million Australian adults were seeking financial advice in 2024, driven in part by intergenerational wealth transfer and growing expectations from Millennials and Gen Z for both trusted relationships and digitally enabled service.

Alan Young, Co-Founder and Joint MD of Baker Young, said: “For 40 years, our focus has been simple: put clients first and build relationships that span generations. Capital Haus shares that philosophy.

“We are planning for the long term – for our clients, our team and our brand. Becoming part of the Capital Haus Group means our legacy will endure, while also providing stability for clients, as well as access to exciting new opportunities. It is the right succession step for our practice and a positive evolution for our clients.”

David Baker, Co-Founder and Joint MD, added: “We’ve spent four decades building Baker Young on a foundation of trust, personalised service, and consistent performance. We’re energised by the shared vision Capital Haus is pursuing and we’re proud to be part of it.”

Gow said: “We believe the future of advice belongs to firms that can combine old-fashioned relationship banking with modern, global wealth capabilities. By bringing Baker Young into the Capital Haus family, we’re preserving one of Australia’s great advisory brands while building a platform that can serve the next generation of investors.”