Italian asset manager Azimut has acquired a 93% stake in Next Generation Advisory (NGA), an Australia-based firm providing asset allocation and advisory services to local retail, HNWI and institutional clients.
Additionally, Azimut has also entered into an investment and shareholders’ agreement with the management of the NGA to create a business plan that aims to develop a model of partnership within NGA to attract, recruit and motivate advisors financial in the long run.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
NGA was founded in 2014 by Paul Barrett, who will lead the project in Australia as CEO.
The transaction will be carried out by AZ International Holdings, a sub-holding company of Azimut Luxembourg.
The deal involves a long term investment plan to combine a defined number of financial planner companies and develop the NGA platform. The transaction also includes call/put option rights.
Upon full implementation of all expected acquisitions, there is a total investment of about A$8m per year to fund the business plan, which aims to reach a total of A$7.6bn of assets over the next 12 years, Azimut said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataPaul Barrett, founder of NGA, said: "We are looking forward to providing quality financial planners with a unique growth and succession opportunity in a professional environment. Our initiative, AZ NGA, will provide an environment where these ambitions can be realized."
Pietro Giuliani, chairman and CEO of Azimut Holding, said: "This combination of values and expertise form the grounds to attract local Australian financial advisors to work within a highly rewarding and motivating Group."
