E&P Financial Group

E&P Financial Group

E&P Financial Group listed on the Australian Securities Exchange in 2018 through the reverse takeover of Evans & Partners by Dixon Advisory, creating a vertically integrated wealth and advisory firm. The merger quickly soured when the US Masters Residential Property Fund, a Dixon-managed vehicle investing in New Jersey multi-family housing, underperformed and prompted a class action, regulatory scrutiny, and a full leadership overhaul. Ben Keeble assumed the CEO role in 2021, tasked with stabilizing the business and reorienting its strategy. The firm operates three core divisions. The wealth management arm provides portfolio construction, direct equity advice, and managed accounts to private clients, with a stated focus on capital preservation and sustainable investing. The corporate and institutional equities desk offers research, trading, and corporate advisory services to mid-cap and small-cap Australian companies. The third leg, funds management, previously anchored by the troubled US property strategy, has been pared back to a narrower set of real asset and credit offerings. Confirmed corporate advisory mandates include roles in capital raisings and M&A for Australian financial services and technology companies, though the firm does not publicly disclose its full client list. Headquartered in Sydney with a secondary office in Melbourne, E&P Financial Group operates exclusively within Australia. Team size has contracted since its peak; the firm has not reported a total adviser headcount in its most recent filings. A discontinued transaction in 2022 saw the firm abandon a proposed takeover by an external suitor after failing to meet liquidity and financing conditions. As of late 2024, E&P restructured its balance sheet by selling a portion of its corporate advisory business to management, generating approximately A$2.9 million in capital that was applied to reduce legacy liabilities. E&P Financial Group's structural distinction lies in its listed single-entity configuration — a rare model globally, where private wealth and institutional equities are housed within one publicly traded issuer. This design subjects the firm to continuous disclosure obligations that rival private wealth managers avoid, while theoretically aligning adviser incentives through equity ownership. The November 2024 partial sale of its corporate division to an entity controlled by its own executives, a move the firm characterized as management transitioning to independence, further concentrated the listed entity's focus on its private client wealth segment and narrowed its public float.