AZ NGA has announced that one of its subsidiary firms has acquired an AMP-aligned advice firm, whose principal is set to retire and is looking for a succession solution.
Wise Planners has entered into a binding agreement to acquire 100 per cent of the shares of Sydney-based Domane Financial Advisers (DFA).
DFA advises more than 1,000 clients and over 2,000 Corporate Super members. The firm has more than $212 million in funds under management and is licensed by AMP’s Chartered Financial Planning.
Wise Planners chief executive Gareth Hall said DFA principal Therese Stanton is “looking for a succession solution for herself and her staff and clients”.
“DFA shares similar values to Wise Planners, including a focus on service and client best interests. There is also great synergy between Wise Planners and DFA’s Corporate Super offering,” he said.
“Wise Planners joined AZ NGA in order to accelerate our growth plan. This deal represents the first significant step in achieving our growth objectives.”
AZ NGA chief executive Paul Barrett said: “When proprietors enter into arrangements with AZ NGA, it is not only to solve their long term succession [questions], but to enable growth.”
Comments powered by CComment
The AIOFP is disappointed by the first tranche of the government’s QAR-related legislation and has called on Canberra to ...
Clients do not always start their journey with holistic advice from the outset, and super funds providing basic advice ...
The advice group has expanded its operations interstate with two acquisitions in Adelaide and one in Port Macquarie
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin