AZ Next Generation Advisory (AZ NGA) has agreed to acquire Priority Advisory Group (PAG), a Fortnum-aligned practice based in Sydney.
The transaction will involve a share swap of 47% of PAG’s equity for AZ NGA shares and a progressive buy-back of these shares over 10 years.
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The balance stake would be paid to the founding partner two year in cash, AZ NGA stated.
PAG’s leadership team has inked long-term contracts to retain the existing management structure following the transition.
Set up in 1987, PAG operates out of Chastwood – on Sydney’s North Shore and has a workforce of 14 including five financial planners, and four client service managers.
The firm offers investment and asset allocation advice, retirement planning, insurance, strategic financial planning advice, aged care, as well as philanthropic services.
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By GlobalDataAZ NGA CEO Paul Barrett said: "The PAG business has established a great balance between corporatisation of the business and at the same time delivering values-based financial advice. We are thrilled with the latest addition to the AZ NGA family and look forward to assisting Larry and the team to achieve their goals."
