Eureka Financial Group has announced it will more than double in size following the successful acquisition of assets from the Queensland financial planning group Whittaker Macnaught.

As one of the biggest wealth management groups under the Commonwealth Bank-backed Financial Wisdom banner, Eureka will now be known as Eureka Whittaker Macnaught.

“We look forward to providing our existing and Whittaker Macnaught clients with excellent financial planning solutions under our new brand. This doubles the scale of our business and is a big step in our plans for a national footprint,” said Greg Cook, CEO of Eureka Whittaker Macnaught.

Industry veteran and co-founder of Whittaker Macnaught, Noel Whittaker, has been appointed as ambassador for Eureka Whittaker Macnaught and will attend upcoming events to mark the founding of the new business.

“I have worked closely with Greg Cook and Eureka for the past three years and I am very pleased to see that his respected firm is now taking care of Whittaker Macnaught clients,” said Whittaker.

Eureka is privately owned by directors Greg Cook and Andrew Jones and operates under a Financial Wisdom Limited licence while Whittaker Macnaught, a wholly-owned subsidiary of the Commonwealth Bank of Australia (CBA), has planners operating in offices across Queensland.

Cook, who will be moving to Queensland to head up the new combined business said Eureka Whittaker Macnaught will be working hard to ensure a straightforward transition for all concerned.

“We will be working with transition teams from Whittaker Macnaught, Financial Wisdom and CBA to help the process run smoothly,” he said.