Barrett’s AZ NGA backs another acquisition
The Paul Barrett-led, Italian-backed AZ Next Generation Advisory (AZ NGA) has expanded its footprint, this time via a transaction undertaken by its subsidiary firm, Wise Planners, to acquire the corporate superannuation clients of Principal Edge Financial Services.
The transaction, confirmed this week, follows on from Wise Planners’ purchase of Domane Financial Advisers in August last year and will result in the business reaching $1 billion in funds under advice (FUA).
Wise Planners trades as Lifestyle Financial Services and its chief executive, Gareth Hall said the company believed the corporate superannuation market continued to present great opportunities, despite the impact of regulatory reform on the sector. “Lifestyle is very pleased to be able to grow this side of our business by acquisition and we’re always looking for further opportunities for growth,” he said.
“Our partnership with AZ NGA has allowed us access to capital, and to the know-how to get acquisitions done, quickly,” Hall said.
Recommended for you
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
Estimates for the calendar year 2024 put the advice industry on track for a loss in adviser numbers as exits offset gains from new entrants.
Adviser Ratings shares five ways that financial advice changed in 2024 with an optimistic outlook for 2025, thanks to the Delivering Better Financial Outcomes legislation.
National advice firm Invest Blue has announced several acquisitions, including the purchase of an estate planning and wealth protection business Lambert Group.
