AZ NGA increase stake in WA financial planning practice

AZ NGA has followed through on its intentions to grow its ownership stake in select financial planning businesses gained as part of its 2024 AMP acquisition, this time with WA-based Geographe Financial Group.

Founded in 1976, the practice provides advice on superannuation, investments and insurance to clients across the south-west area of Western Australia via its offices in Busselton and Bunbury.

Paul Barrett, AZ NGA’s group chief executive, said securing the firm’s position as a majority owner in Geographe Financial Group highlights its ability to “meet the evolving needs and timeframe of advisers and business owners”.

“We’ve gotten to know the exceptional team at Geographe really well in the past year and they are experts at what they do, and passionate about raising up the next generation of advisers,” he said.

“The firm provides a truly integrated advice service, giving confidence to clients who have a dream for a better and richer life, and we are excited to expand our relationship and assist with the next phase of growth.”

Geographe founder, Bill O’Byrne, will retire as a result of the transactio and director, Craig Gibson, will reduce his involvement in the business’ day-to-day to focus more on client delivery. Financial advisers, Sean Spencer and Brent O’Byrne, will grow their share ownership and take on  new leadership roles.

With the increased backing of AZ NGA, Geographe will also look to expand its merger and acquisition (M&A) activity in addition to continuing its organic growth.

“The South West region is growing rapidly and there is a fantastic opportunity to serve more clients, partner with other advisers in the area and expand through M&A,” Spencer said.

“We have ambitious plans to grow and add more planners, and also increase our productivity, efficiency and capacity by leveraging the resources, expertise and scale of AZ NGA.

“We have established strong relationships within our organisation, and there is significant interest from other firms in joining us. With the support of AZ NGA, we are well-positioned to accelerate our growth and successfully execute our strategic plans.”