The tripartite deal between Fortnum and AZ Next Generation Advisory, announced earlier this week, to acquire the financial advice arm of Australian Unity is a “reasonable fit”, according to Wealth Data.
AZ NGA has acquired an outsourced HR company, the latest step in its horizontal integration strategy to be involved in each component of the adviser supply chain.
Speaking to Money Management, AZ Next Generation Advisory’s chief executive Paul Barrett has outlined the firm’s plans to quadruple its size to become Australia’s leading professional services company, having already completed 14 M&A transactions this year.
For the first time in years, the financial advice market is seeing tailwinds rather than headwinds, according to Forte Asset Solutions director Stephen Prendeville.