The Australian Wealth Advisors Group (AWAG) has completed two strategic investments, doubling its number of authorised representatives (ARs).
The group announced a strategic investment into Avalon Financial Services, raising AWAG’s AR count across Australia from 40 up to 80.
Established in 2013, Avalon is a Sydney-based firm specialising in providing licensing solutions for wealth management advisers, along with practice solutions to its authorised representatives.
In an ASX statement, AWAG said it has “subscribed for new capital in Avalon, along with acquiring existing shareholdings from retiring executives”, adding that the provision on new capital will help Avalon reach its growth objectives.
AWAG said: “Avalon has several strategic relationships which line up with AWAG’s growth profiles of building out its advisory and wealth management model.”
In addition to boosting its AR count, the group said this investment also brings the number of boutique licensees within AWAG to three. Building on this moment, AWAG said it intends to build its “House of Brands” model, with due diligence on several licensees and financial planning, advisory and accounting firms already underway.
The group has also announced the purchase of SWR Chartered Accountants in conjunction with Beattie Financial Services.
AWAG entered into an equity partnership with Beattie, a Victorian advice firm, in November 2024, its second deal of this kind for the group.
Working with Beattie, AWAG said the investment into SWR allows them to continue to build out its hub in Central Victoria and the Bellarine coast. The retiring partner, alongside their staff, will join Beattie Financial Services, which will increase the revenue and resources capacity of AWAG, as well as its EPS accretive.
“The completion of these two investments has AWAG significantly ahead of its objectives. The portfolio of investments established to date is creating a highly valuable assets base for AWAG. The board is extremely pleased with the growth achieved since its initial listing in February 2024.”
Notably, the completion of these deals brings AWAG’s equity participation scheme (EPS) investments to a total of nine since its first less than 18 months ago. This also pushes its funds under management and administration (FUMA) from $2.3 billion up to $3.6 billion.
