Financial services group continues acquisition spree

AZ Next Generation Advisory has acquired a material interest in Certe Wealth Protection, subject to settlement terms and government approvals. The deal includes a cash payment of 51 per cent upfront and a share swap of 49 per cent of Certe Wealth Protection for AZ NGA shares, with a progressive buyback of those shares.

According to principal Jeremy Boller, the acquisition will be a stepping stone for Certe’s business, which has $16 million of inforce premium and employs four advisers and seven support staff.

“We got to a size and stage where we needed the capital and support of a large, experienced partner to help us capitalise on opportunities and cement our place in this emerging advice profession,” Mr Boller said.

“Risk is a specialist area and sadly there are fewer and fewer risk specialists around, but that is also an opportunity for us. AZ NGA is the ideal partner to take this business forward.”

AZ NGA has acquired an interest in around 64 accounting and financial advisory firms since 2015. CEO Paul Barrett was drawn to Certe’s “unique business model”, which is focused on servicing individual private clients and corporate clients.

“Certe Wealth exemplifies the characteristics we seek in SME partners including a distinct area of specialization, strong client relationships and the capacity and capability to grow,” Mr Barrett said.

“Risk specialists are becoming rarer and rarer, but Jeremy and his team are passionate about being their clients’ trusted adviser for all life insurance-related matters."