Former Millennium3 CEO to lead AZ NGA subsidiary

AZ NGA subsidiary Nestworth, which recently acquired the financial advice business of Australian Unity, has appointed a former senior Insignia executive as CEO. 

Helen Blackford was formerly the CEO of Insignia’s licensing and professional services business which covered Millennium3, Lonsdale and IOOF Alliance for three years until December 2023. She was previously the chief executive of Millennium3 prior to its acquisition by Insignia. 

Insignia divested Millennium3 to WT Financial in November 2023 for $2 million on a debt and cash free basis. Its advice network includes over 140 wealth and personal risk insurance advisers operating across more than 75 privately owned practices in Australia.

Nestworth was founded in 2004 and become a subsidiary of AZ NGA in 2022, where it is pursuing the firm’s “super firm” strategy, with 82 employees across seven locations. This strategy encourages AZ NGA’s subsidiaries to have a compelling employee value proposition, successful client value proposition, ideal shareholder value proposition, defined enterprise architecture and healthy corporate culture.

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This led to a deal last year for Nestworth to acquire Australian Unity’s financial advice and corporate superannuation services business including 18 advisers. The firm also took over the group’s corporate superannuation services business, with Nestworth becoming one of Australian Unity’s preferred advice providers.

At Nestworth, Blackford will replace Paul Fog who is stepping down from the CEO role after five years but will remain on the board as a non-executive director. 

Paul Barrett, Nestworth chairman and AZ NGA CEO, said: “Helen is an experienced wealth management executive with a proven track record of leading large teams of people, driving transformational change and delivering results.

“We are extremely fortunate to have Helen on board at this critical time to take over from Paul, who has been central to Nestworth’s success to date and hands over a business in extremely good shape.”

Blackford stated: “As a key business inside the AZ NGA community, Nestworth is in the best environment to continue growing and ultimately achieve its Super firm ambitions.

“This is a well-run business, with a clear vision and strategy, and great people. I’ve led large, dynamic teams in previous roles, and I enjoy developing and nurturing talent. I’ve also successfully led organisations through periods of change and I am excited about the opportunity to lead Nestworth into the future and contribute positively to the broader AZ NGA group.”