Brisbane-based financial advisory businesses, Henderson Matusch Group (HMG) and Logiro, have announced a non-cash merger.
The merger brought together 42 employees, including 14 financial advisers whose capability spanned holistic financial planning, risk insurance, portfolio management, mortgage broking and estate planning.
HMG chief executive, Paul Fog, said the merger could take up to 12 months to complete, with both parties committed to ensuring continuity of operations and would have no adverse impact on staff, productivity and profitability.
Logiro would move to HMG’s Brisbane office but continue to operate as a separate entity for a period of time to integrate operations.
“Growth and scale are important but this merger is also about people. It is getting harder and harder to recruit good people, and this deal brings serious talent to HMG,” Fog said.
“It significantly expands our capability and capacity, and positions us strongly to continue meeting the current and future needs of our clients.”
The two firms were both part of AZ NGA which had 73 accounting and advice firms around Australia.
AZ NGA chief executive, Paul Barrett, said the deal reinforced the value of having a large, experienced business partner.
“AZ NGA is a federation of firms and part of our strategy is to connect people and help them explore opportunities to grow through mergers, acquisitions and organically,” he said.
“Firms of the future understand the power of mergers and acquisitions to expand a business’ capability and capacity, and turbo charge growth. The most successful mergers are ones where both entities know each other well and share common values and motives.”