AXA to acquire Genesys
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.
Recommended for you
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
