In a year of consolidation and rationalisation, Money Management collates the biggest M&A in financial advice from the final three months of 2025.
Movements in the final quarter encompassed acquisitions by Count, AWAG and multiple deals by AZ NGA.
Going forward, a report by Morgan Stanley and Oliver Wyman said it could expect over 1,500 significant transactions involving asset and wealth managers in the next five years with up to 20 per cent of existing firms being acquired.
“For acquirers, the execution playbook is clear yet arduous. They will need to choose the right target (prioritising revenue complementarity and cultural compatibility over cost synergy potential), de-risk transactions (manage talent and asset attrition, reduce beta sensitivity in valuations), execute decisively to fend off competition and run flawless post-merger integration to materialise ambitious return targets.”
Read on for the latest M&A activity of Q4:
October
Succession planning sparks Sydney acquisition to form $1.1bn practice
High-net-worth advice firm Multiforte Financial Services announced it would merge with Sydney advice firm Lorica Partners as it proactively seeks succession for its staff and clients. Once the deal is complete, Lorica will have $1.1 billion in assets under management, some $300 million of which comes from the Multiforte deal.
Count expands service offering with Melbourne acquisition
Advice licensee Count’s subsidiary Accurium acquired an independent Melbourne-based accountancy and advisory firm, McGing Advisory and Actuarial, the third accounting acquisition in recent months. Established in 2010 and generating $2.1 million in revenue, its principals, Sean McGing and Neekhil Shah, will join the Accurium team.
AWAG strikes strategic JV deal to expand market reach
The Australian Wealth Advisors Group (AWAG) entered a strategic joint venture relationship with Singapore-based financial services firm PhillipCapital, expanding its product and services distribution reach. This partnership will facilitate the distribution of AWAG and Armytage – a subsidiary of AWAG – products and services to PhillipCapital Australia clients,
November
HLB Mann Judd completes WA acquisition
HLB Mann Judd Perth announced its acquisition of a WA business advisory firm, growing its presence in the region. A Plus Business Advisors has been operating in Perth since 2006, providing advisory services to individuals and small business owners across a broad range of industries. Garry Anderson, director and owner of A Plus, and Maka Sikazwe, the associate director of the firm, have joined HLB Perth as directors in the business advisory division.
Advice firm trio merge to form new Sydney entity
Three advice firms – Talem, Assure and Plenary Wealth – merged to create a Sydney-based advice business. Joshua Cratchley, former principal of Plenary Wealth, was named as CEO of the combined Walker Lane Group. The group plans to become one of the largest and most recognisable financial advice brands in Australia by the end of the decade, targeting 300 clients per senior adviser.
December
Sydney advice practice makes trio of acquisitions
Financial advice practice Eureka Whittaker Macnaught is in the process of acquiring three firms to boost its annual revenue to $25 million. The three firms are MSI Taylor Wealth Management in Queensland, Financial Design in Queensland and Your Wealthy Life in Queensland and South Australia. Once complete, these additions will bring the firm’s annual revenue to $25 million and a team of 90 staff.
AZ NGA enters strategic partnership with Sydney advice firm
AZ NGA entered a strategic partnership with a Sydney Financial Planning to support its succession plans and future growth. Founded in 1988, Sydney Financial Planning is based in the city’s eastern suburbs with a second office in Wollongong, operating as Illawarra Financial Planning. The firm has 18 employees and more than $600 million in assets under advice.
Two Victorian AZ NGA-backed practices form $10m business
AZ NGA-backed advice firms, Coastline Advice and Edge Advisory Partners, announced a merger to form a multi-disciplinary business with $10 million combined revenue. The joint entity – known as Coastline Advice – will have more than 45 team members and 1,500 clients, bringing in more than $10 million in revenue with Darryn Jacobs acting as chief executive of the collective firm following the merger.
