Brisbane-based advice firms announce merger

HMG and Logiro, both AZ NGA-backed, are aiming to create a “multi-disciplinary professional services firm” with 42 employees, including 14 financial advisers, and capability spanning holistic financial planning, risk insurance, portfolio management, mortgage broking and estate planning.

The merger, which could take up to 12 months to complete, is expected to deliver immediate scale benefits.

“Growth and scale are important but this merger is also about people. It is getting harder and harder to recruit good people, and this deal brings serious talent to HMG,” said HMG chief executive officer, Paul Fog.

“It significantly expands our capability and capacity, and positions us strongly to continue meeting the current and future needs of our clients.”

While Logiro will move into HMG’s Brisbane office, it will continue operating as a separate entity for a period of time to allow for a seamless integration of operations.

“The advice landscape is rapidly changing, requiring advice businesses to change too,” said Chris Shiels, Logiro CEO and principal adviser.

Mr Shiels explained that while Logiro is largely the same business it was five years ago, “the compliance burden is much greater”.

“This deal will free me to spend more time helping my clients, which gives me the most joy and satisfaction. It’ll also allow more time to focus on winning new clients and growing the business,” the CEO said.

Commenting on the merger, AZ NGA CEO Paul Barrett emphasised the benefits of mergers including the unique growth strategy they provide.

“Firms of the future understand the power of mergers and acquisitions to expand a business’ capability and capacity, and turbo charge growth,” Mr Barrett said.

“The most successful mergers are ones where both entities know each other well and share common values and motives.”

HMG was acquired by AZ NGA back in 2021. At the time, Mr Fog said the group had been attracted to the partnership due to its experience in the market and the scale offered by a group of its size.

“Running a successful business today is vastly different to a decade ago or even five years ago,” he said at the time.

“AZ NGA is the most experienced player in the market when it comes to M&A, succession solutions and business growth. It has the vision, know-how and capital backing to invest in strategic advice for the long-term and our partnership ensures that Henderson Matusch will continue to grow and meet our obligations to clients, staff and other stakeholders.”