Wise Planners, a subsidiary of AZ Next Generation Advisory (AZ NGA), has acquired the client book of Australia-based AFM Advisers for an undisclosed sum.

AFM, which was owned by the late Haydon Skudder, offers a wide range of financial planning services including workplace superannuation services. The firm manages AUD284m ($218m) in assets under advice.

The latest deal increases Wise Planners’ total advised funds to AUD1.8bn.

AZ NGA CEO Paul Barrett said: “Our growth model is backed up by a first-class Mergers & Acquisitions capability that we have built in-house. When firms are dealing with us they know that we have the capital and the execution capability to get deals done. Gareth has taken his business from $400 million to $1.8 billion in just under two years.”

Since becoming part of the AZ NGA network in November 2015, Wise Planners has also purchased Domane Financial Advisers, the workplace super clients of Principal Edge Financial Services, Northbridge Financial Solutions, and Healthy Finances.