Wise Planners acquires super client book

10-Apr-2017

By Sarah Kendell

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AZ Next Generation Advisory (AZ NGA) subsidiary firm Wise Planners has acquired the corporate superannuation consulting business of financial advice group Northbridge Financial Solutions.

The purchase marks the third such acquisition in under a year for Wise Planners, which trades as Lifestyle Financial Services, and brings total funds under advice for the group to more than $1.4 billion.

In a statement announcing the deal, Northbridge confirmed that both management teams would continue to work alongside each other “for the foreseeable future” to ensure a smooth transition to the new service model.

“The corporate superannuation world has been evolving rapidly and we at Northbridge have been aware that we needed to enhance our services to clients,” a Northbridge spokesperson said.

“Partnering with Lifestyle enables us to do this sooner rather than later, and with a tried and proven technological process – this is going to be a ‘best of both worlds’ solution for our clients.”

Commenting on the acquisition, Wise Planners chief executive Gareth Hall said it would help the group achieve further scale in its corporate super advice business after having acquired a client book from Sydney practice Principal Edge Financial Services in February, and purchased Domane Financial Advisors in August last year.

“Scale is really important to us – we want to provide the best services possible to corporates and their staff,” he said.

“Our passion is helping people to understand their super, and get the most they can out of it.

“For us to be able to afford to constantly innovate and improve the services we offer in today’s environment, we must increase our scale.”

Hall added that the backing of AZ NGA’s financial resources had proven invaluable in allowing the group to expand.

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