Wealth management and financial advice firm Storm Financial has launched an initial offer of shares to raise up to $172.8 million.

Storm today lodged a prospectus with the Australian Securities and Investments Commission (ASIC) for the float, ahead a planned stock exchange listing next month.

The offer comprises 160 million share at an indicative price range of 92 cents to $1.08 per share.

The final price will be determined through an institutional bookbuild, with the shares to only be offered to Storm clients, employees and institutions.

The offer is expected to raise between $147.2 million and $172.8 million.

Storm Financial will have a market value between $424 million and $497.8 million after the offer is completed.

Storm Financial has funds and liabilities under advice of more than $5 billion.

The company has been offering financial advice to Australian investors for over 15 years.

Storm said it's delivering an adjusted earnings compound annual growth rate of about 146.7 per cent between fiscal 2004 and fiscal 2008.

The company is led by executive chairman and joint chief executive Emmanuel Cassimatis and managing director and joint chief executive Julie Cassimatis.

The share offer opens on November 14 and closes on November 28.

The bookbuild will held on December 4, ahead of a planned December 13 listing.

AAP