Barrett’s AZ NGA backs another acquisition

21 February 2017
| By Mike |
image
image
expand image

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago