PE money creates competitive advice dynamic

Mike Taylor

Managing Editor/Publisher, Financial Newswire

1 July 2025

ANALYSIS

While financial advice practices report they have rarely been busier and while some licensees struggle to generate a satisfactory return on investment, there is no shortage of private equity interest in investing in the Australian wealth management sector.

Less than a year after Oaktree Capital Management invested into Paul Barrett’s AZ-NGA, TA Associates has committed to a significant investment in Viridian Financial Group with a clear merger and acquisition agenda.

There can be no doubting TA’s intentions, with the company’s Senior Vice-President, Lily Xu, specifically referencing the fact that Viridian has available to it “multipole levers for organic growth and a prove ability to execute growth through M&A”.

As it happens, Xu will be joining the Viridian board alongside the head of TA Associates Asia Pacific, Edward Sippel.

TA Associates is no stranger to the Australian wealth management sector with its name having been associated with the sale of the Perpetual Wealth business earlier this year, not long after the announcement that it had any into a strategic partnership with New Zealand’s Craig Investment Partners.

For his part, Sippel was up-front about the company’s knowledge of the Australian wealth management sector, referencing a “multi-year deep dive in which “Viridian consistently emerged as a leading innovator in its market segment”.

“Across our global wealth management investments, our focus is first and foremost on client outcomes and alignment with advisors. We are pleased that the Viridian team shares this commitment,” he said.

“We have high conviction in the long-term potential of Australia’s large and growing wealth management market, and believe there is a significant opportunity to scale Viridian’s platform both organically and through strategic acquisitions.”

The message from the TA Associates investment in Viridian will not be lost on Australia’s mid-sized financial advice licensees, both listed and unlisted – they can expect to receive overtures.

Coincidentally, on the same day that the TA Associates investment was announced, Akumin, formerly known as AMP Financial Services, added Victorian financial advice business, Pinnova Partners, to its Charter Financial Planning network.

Akumin, as AMP Financial Services, was acquired by Entireti reflecting the growth agenda originally initiated by AZ-NGA.