The firm’s director, Jonathan Kilborn, said the move to Fortnum came as the business looked to grow.

“We considered all our options, including applying for our own AFSL, and conducted an extensive review of the market before deciding to partner with Fortnum,” Mr Kilborn said in a statement.

“We wanted a licensee that was not part of a financial institution and had a long proven track record of successfully running a dealer group and overseeing the provision of client-centric financial advice.

“Fortnum will support us to focus on growing the business while doing what we do best, which is look after our clients.”

“We are extremely pleased to have a high-quality professional services firm like Cardena join Fortnum,” managing director of Fortnum Financial Advisers Joel Taylor said.

“We are very selective of the practices we take on and our advisers set a high bar in terms of professionalism. Cardena is a great fit.”

Mr Taylor added that Fortnum is experiencing strong momentum and is well-positioned for future growth.