Killarney-headquartered financial planning and wealth management firm Gallivan plans to pursue further acquisitions to strengthen its presence in existing and new markets.
Gallivan Financial, based in Killarney, has announced the acquisition of Mount Street Group in Dublin and Kelly O’Shea Pensions & Financial Services in Tralee.
These acquisitions bring Gallivan Financial’s total assets under management (AUM) to more than €650m, with the firm aiming to exceed €1bn in AUM by the end of the year.
“From the outset, it was clear that our shared values and commitment to client-focused advice were strongly aligned”
The acquisition of Mount Street Group marks Gallivan Financial’s entry into the Dublin market and represents the firm’s third major transaction in the past two years.
Meanwhile, the acquisition of Kelly O’Shea Pensions & Financial Services strengthens Gallivan’s presence in Kerry and supports its broader growth strategy in the Irish market.
Mount Street Group manages over €150m in assets and serves more than 500 clients. Kelly O’Shea Pensions & Financial Services manages €40m in assets on behalf of 320 clients.
Shared values and commitment to clients
“We’re excited to welcome the Mount Street and Kelly O’Shea teams to Gallivan Financial. From the outset, it was clear that our shared values and commitment to client-focused advice were strongly aligned,” said Fergal Smith, managing director of Gallivan Financial.
“Our integration plan is centred around continuity. Clients will continue working with the same trusted advisors while benefiting from the broader resources, technology, and expertise of our combined teams.”
Gallivan Financial is majority-owned by the Gallivan family, who previously sold Gallivan Murphy Insurance Brokers (GMIB) to US-based Assured Partners in 2022. Gallivan Financial was not part of that transaction and has now embarked on a significant growth trajectory.
Since May 2023, Gallivan Financial has completed four acquisitions and is currently in exclusive negotiations with several other firms.
“We see very significant opportunities for consolidation within the sector in the short to medium term,” said Smith. “We are continuing to look for further expansion opportunities as we seek to expand Gallivan Financial into a very significant player in the growing Irish wealth management sector.”
“We reached the point where a decision had to be made on how to develop the business further without it impacting on our service levels,” said Marie Ainsworth, founder of Mount Street Group.
“Our options came down to either expanding the business, which would require an investment of capital, or to look to partner with a suitable firm which can provide the resources required. There was a clear alignment from the outset in my discussions with Gallivan Financial, as they also have a shared ambition to provide consistent, client-focused advice, with everything geared around long-term relationships with our clients.”
The transactions are subject to customary regulatory approvals and are expected to complete in the coming weeks. Following the acquisitions, Gallivan Financial will operate offices in Killarney, Limerick, and Dublin.
“After nearly two decades building a business grounded in trust and personal service, finding the right partner for the next chapter was incredibly important,” said Aidan Kelly, founder of Kelly O’Shea Pensions & Financial Services.
“From the outset, it was clear that Gallivan Financial shared our values and long-term commitment to clients. This partnership ensures continuity for our clients and team while unlocking new opportunities for future growth. I’m looking forward to staying on as part of the team to ensure a smooth transition and continued support for our clients in the years ahead.”
In May 2023, Gallivan Financial acquired Vincent Casey Life & Pensions, a Killarney-based broker, adding €80m in AUM.
This was followed by the acquisition of Limerick-based FJ Hanly & Associates in September 2024, contributing an additional €100m.
Image at top: Gallivan Financial managing director Fergal Smith, Mount Street Group founding director Marie Ainsworth and Gallivan Financial founding director Tadgh Gallivan
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