AXA Asia Pacific Holdings is to acquire ChallengerFinancial Services Group’s financial planning business, which includes Genesys Wealth Advisers and the proprietary platform Synergy.
The transaction will be in exchange for AXA Australia’s closed annuity portfolio and a consideration of $100 million.
In a statement to the Australian Securities Exchange this morning, AXA said Genesys would retain its independent branding as part of AXA’s existing advice network, which includes AXA Financial Planning, Charter Financial Planning, ipac, Tynan Mackenzie and Monitor Money.
