Advice platform AZ NGA has acquired a majority stake in Geographe Financial Group, one of Western Australia’s longest-established financial planning firms.
Founded in 1976 by Bill O’Byrne, Geographe provides holistic financial advice covering superannuation, investments and insurance to clients across the state’s southwest and Perth. The firm employs five advisers, a professional year associate, and 10 support staff.
AZ NGA took a minority stake in the firm last year as part of its acquisition of AMP’s Equity Portfolio, which included interests in 16 advice firms.
AZ NGA’s CEO Paul Barrett said the new transaction demonstrated his firm’s flexibility in structuring deals to align with adviser succession timelines and business goals.
As part of the deal, O’Byrne will retire, while long-time director Craig Gibson will step back from daily management to focus on client relationships. Advisers Sean Spencer and Brent O’Byrne will increase their equity and assume expanded leadership roles.
