Evidentia enters binding agreement to acquire Encore Advisory
Evidentia Group, a wholly owned subsidiary of Generation Development Group (GDG), has entered into a binding agreement to acquire Encore Advisory Group.
Founded in 2002, Encore is an Australian consulting firm based in Sydney that specialises in helping financial advice, accounting and mortgage broking businesses achieve scalable growth.
Formed through the merger of Evidentia, Lonsec Investment Solutions and Implemented Portfolios earlier this year, Evidentia Group now has some $32.6 billion in funds under management (FUM).
Continuing its growth, Evidentia Group is now set to acquire Encore, which will see its management team rolled into the firm, with Brendan Johnson heading up a new business consulting division and Mark Zaglas continuing to lead Encore.
Through this transition, the firm said that the Encore brand and its intellectual property will continue to be supported and enhanced to ensure continuity for clients while also allowing ongoing innovation on the firm’s proven frameworks and consulting expertise.
Speaking on the announcement, Evidentia Group chief executive Michael Wright said the acquisition of Encore will deliver value to its clients, leaning on the firm’s practice management and advisory business experience.
“Many in our group know and have worked with the Encore team previously. The alignment of values was a key attraction in working together again and creating a new Business Consulting division enables us to continue to invest in capabilities that add specialist value to our clients.
“Our consulting services are considered one of our key competitive strengths, making us the go-to partner for advisers and empowering firms to perform and grow. This acquisition will allow us to deepen and broaden our current consulting offering and to add new services to all Evidentia Group client segments.”
Mark Zaglas, Encore Advisory Group, added “Joining Evidentia Group enables us to help more people, grow more businesses, and make an even greater impact for many more years to come. All while working with a team who we respect highly, having worked with many of them over the last 20 years.”
AUTHOR
Shy-Ann Arkinstall
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