Advice M&A in Q2 outpacing previous quarter

With LGT Crestone completing its acquisition of CBA’s advice firm, Money Management details the M&A activities of the second quarter so far.

LGT Crestone confirmed this week that it had completed the acquisition of Commonwealth Bank’s high-net-worth financial advisory business. This brought across some $5 billion in assets under advice to LGT Crestone which brought its total to $40 billion and 138 advisers.    

So far in the second quarter of 2025, there have been at least eight deals taking place compared to five during the first three months of the year. It is likely this will ramp up further in June as firms count down to the end of the 2024-25 financial year.

Earlier this year, Pitcher Partners found an overwhelming 97 per cent of Australian dealmakers are actively looking for M&A opportunities, particularly in mid-market firms where founders are often approaching retirement. 

“Over the past year, succession planning has emerged as a critical driver of mid-market M&A in Australia, with 85 per cent of dealmakers saying this is the top deal driver in 2025,” the firm’s paper wrote.

VIEW ALL

View all

Q2 deals so far:

Ironbark bolsters wealth division with family office acquisition

Ironbark Investment Partners acquired a Sydney-based family office business at the end of May as it looks to double down on the delivery of high-net-worth (HNW) advice. The firm purchased Mercury Private, a boutique wealth management firm specialising in HNW individuals and family offices which was founded in 2015.

AWAG continues M&A spree with double investment

ASX-listed The Australian Wealth Advisors Group (AWAG) took a 20 per cent stake in two Australian wealth management firms, OneLedger and B2B Invest. Through these deals, AWAG will own up to 20 per cent of each firm and earn up to 5 per cent on top-line revenue.

Melbourne advice firm acquired in strategic deal

In May, Calder Wealth Management (CWM) acquired a Melbourne-based financial planning business called Next Step PMD Financial Planning to strengthen its presence in Victoria. The acquisition includes the transfer of a substantial client portfolio, with Melbourne-based advisers and staff from Next Step PMD joining CWM. The transition will ensure continuity of personalised, professional advice, with minimal disruption for clients.

Count Gold Coast inks double acquisition

Count Gold Coast entered into binding agreements to acquire clients of two accounting businesses, providing new opportunities for its financial advisers. The Queensland-based equity partner – which Count Group has a 69.2 per cent ownership of – is set to acquire the accounting clients of MJG Partnership and Harrison & Harrison. The two practices are both located in Queensland and offer accounting, taxation, bookkeeping, and lending services.

AZ NGA-backed firm acquires Qld advisory practice

Rose Partners, which has a strategic partnership with AZ NGA, has purchased an advisory and accounting business based in Queensland. The Melbourne-based accounting and advisory firm announced the acquisition of MSI Taylor, an accounting and advisory practice with offices in Brisbane and the Gold Coast. 

SA advice firm takes stake in risk specialist 

Earlier in the quarter, CWM formed a strategic partnership with risk advice firm Life Insurance Planning Australia (LIPA) in April, a specialist life insurance advice business which is also based in South Australia. Under the arrangement, CWM has taken a minority ownership stake in LIPA, although the two businesses will operate independently, and Darren Cheek will remain as LIPA’s managing director. 

Prime Financial expands wealth division with research acquisition

Advice and asset manager Prime Financial Group entered into a binding agreement in April to acquire investment research and fund management business Lincoln Indicators and the associated intellectual property. 
Lincoln Indicators, which was founded in 1991, has 3,300 high-net-worth investors/clients that access a range of research services and proprietary managed funds, with $600 million in funds under management and 30 staff. 

Count merger strengthens South Australian presence

In a second M&A move, Count confirmed that Johnston Grocke had entered into a binding transaction to merge with Count Adelaide. Johnston Grocke was founded in 1990 by Doug Johnston and John Grocke with a life insurance background and later expanded into financial planning and accounting in 1995. 
Count said the transaction will significantly enhance its service offerings and market presence in South Australia.

Click here to read the biggest M&A moves of the first quarter of 2025.