{"id":62210,"date":"2022-08-16T09:41:32","date_gmt":"2022-08-15T23:41:32","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=62210"},"modified":"2022-08-16T18:20:46","modified_gmt":"2022-08-16T08:20:46","slug":"az-nga-latest-partnership","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2022\/08\/16\/az-nga-latest-partnership\/","title":{"rendered":"AZ NGA Latest Partnership"},"content":{"rendered":"

Professional services utility, AZ Next Generation Advisory<\/a> and national financial advisory business, Invest Blue<\/a>, have joined forces to co-invest in Australian-owned, Philippines-based paraplanning and back-office solutions provider, Virtual Business Partners<\/a>.<\/p>\n

The companies says that under the deal, AZ NGA and Invest Blue will acquire a 40% interest in VBP with the group\u2019s management team increasing their holding to 20%, and VBP\u2019s founding shareholders, David Carney<\/strong> and David Deegan<\/strong>, retaining a 40% stake.<\/p>\n

\"\"<\/a>
David Carney.<\/figcaption><\/figure>\n

They say the transaction enables all parties to fulfil key strategic priorities.<\/p>\n

It represents AZ NGA\u2019s foray into the advice supply chain, “…giving the group exposure to a high-quality standalone investment, and securing capability and capacity in the midst of a skills and talent shortage.”<\/p>\n

Similarly, it reinforces Invest Blue\u2019s strategy \u201c\u2026to acquire capability and empower people on its mission to become Australia\u2019s largest integrated financial advice brand.\u201d<\/p>\n

The deal also concludes VBP\u2019s\u00a0 search for a long-term capital partner to help manage key-person risk and succession, and fuel the group\u2019s growth and expansion plans.<\/p>\n

\"\"<\/a>
Paul Barrett.<\/figcaption><\/figure>\n

David Carney, VBP Co-founder and Chief Executive Officer, says the transaction will ensure VBP retains its lead as an outsourcing partner for financial planning businesses.<\/p>\n

Paul Barrett,<\/strong> AZ NGA Chief Executive Officer, says VBP is not an outsourcing company “…but a human resources partner for advisory businesses looking to increase efficiencies, reduce their cost to serve and improve their net profit margin.\u201d<\/p>\n

\"\"<\/a>
David Stephen.<\/figcaption><\/figure>\n

David Stephen<\/strong>, Invest Blue Chief Executive Officer, says the group is continuously on the lookout for profitable, growing businesses.<\/p>\n

Stephen adds they are also keen \u201c\u2026to attract and acquire other like-minded advice businesses, and we have the right structures and processes in place to enable advisers to deliver their client service proposition. VBP is a key part of that framework.\u201d<\/p>\n

Barrett notes that AZ NGA is not only interested in high quality accounting and advisory SMEs but sees opportunities to invest in key parts of the supply line.<\/p>\n","protected":false},"excerpt":{"rendered":"

Professional services utility, AZ Next Generation Advisory and national financial advisory business, Invest Blue, have joined forces to co-invest in Australian-owned, Philippines-based paraplanning and back-office solutions provider, Virtual Business Partners. The companies says that under the deal, AZ NGA and Invest Blue will acquire a 40% interest in VBP with the group\u2019s management team increasing […]<\/p>\n","protected":false},"author":24,"featured_media":62221,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-62210","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dealer-groups"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/62210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=62210"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/62210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/62221"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=62210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=62210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=62210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}