Barrett’s AZ NGA backs another acquisition
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.
Recommended for you
The profession is up by almost 200 advisers for the new financial year, with August continuing the consistent weekly positive gains.
WT Financial has announced its second “Hubco” with a combined valuation of $7.8 million, while its first one has successfully incorporated and is now making its own acquisitions.
The Australian Wealth Advisors Group has entered into a joint venture with a Melbourne financial services firm to launch a wealth manager.
Remediation and litigation costs have led AMP to announce a reduced statutory net profit after tax of $98 million for the first half of 2025.
