Two AZ NGA-backed financial advice firms will merge to form a large multi-disciplinary professional services firm on Sydney’s north shore specialising in life risk insurance, retirement planning, aged care, wealth management and workplace financial advice.
Priority Advisory Group and Wise Planners will merge and operate under the Priority Advisory Group brand, employing a dozen financial advisers.
Zvi Teichtahl, CEO of Priority Advisory Group, says the deal will create a business of significant size and scale with the capability and capacity to serve more clients.
“This strategic partnership is a key step towards our joint vision to create a thriving professional financial services hub on the north shore of Sydney.”
Teichtahl says while the firm has clients all over Sydney and Australia, most of its clients and referral partners are based on the north shore, “…where there is a lot of residential property development, retirement villages and aged care facilities.”
He adds that aged care advice is one of the fastest growing areas of the business and “…there is also strong demand for life risk insurance advice, given the large number of professionals and young families buying apartments in the area. The group’s core Personal and Family Wealth business will also be strengthened with this merger.”
The merged Priority Advisory Group will have four divisions: Personal and Family Wealth, Aged Care, Life Risk Insurance and Workplace Financial Advice.
Gareth Hall, founder and Chief Executive of Wise Planners, which includes Lifestyle Financial Services, will take up the position of Head of Workplace Financial Advice, reflecting the group’s reputation as one of Australia’s leading providers of workplace financial advice.
“This transaction will deliver immediate scale benefits and increase our capability and capacity to serve our clients by expanding the breadth and depth of our advice and service proposition,” Hall says.
Paul Barrett, CEO at AZ NGA, says the strategic partnership brought together two complementary businesses to build a compelling proposition for employees, clients and shareholders.
