The national award – which recognises excellence, leadership and performance – is run by RI Advice, one of Australia’s largest and most respected financial advice brands.

According to Peter Ornsby, RI Advice Chief Executive Officer, Pride Advice is the only multi-year award winner in the group’s history, cementing its reputation as one of Australia’s leading advisory firms.

“In an extremely competitive field, it is not a coincidence that Pride Advice has taken out this award for the fifth time. Year after year, the business consistently demonstrates a steadfast commitment to quality advice, excellent service and continuous improvement,” he said.

“The team at Pride Advice exemplifies qualities like transparency, empathy and honesty, which are aligned to the values at RI Advice. As an active industry participant, Pride Advice is vocal about the importance and value of professional advice, and positively contributes to industry discussions.”

RI Advice’s judging process utilises a balanced scorecard approach that considers a range of factors including client engagement, compliance, technology integration and, in recent years, client feedback.

Established in 2003, Pride Advice has offices in Adelaide and Sydney, employing six financial advisers and 14 support staff. The group provides financial planning, wealth management and tax and accounting services to over 1,000 clients.

Brett Schatto, Chief Executive Officer, Pride Advice Adelaide said the group’s decision back in 2016 to refresh its client value proposition and invest in people, systems and processes has made all the difference.

“Several years ago, we made some tough decisions including one to unbundle our offering and reprice our services. What we have now is a unique, transparent fee model that resonates with clients,” he said.

“At a time when the advice industry is grappling with unprecedented change and disruption, this has put us ahead of the curve. It has also strengthened the trust our clients place in us to act in their best interest.”

Pride Advice, which is part owned by AZ NGA, recently completed the acquisition of RI Advice Brookvale, as part of a strategy to expand the group’s capability and capacity through both M&A and organic growth.

Mr Schatto said the business was looking for opportunities to partner with like-minded advisers.

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Brett Schatto

Pride Advice yesterday purchased 100% of the assets of Bailey Capital Management (BCM).

BCM is based in Adelaide and advises over 400 clients comprising $97,000,000 of FUA and is licensed with RI Advice. BCM’s origins date back to the mid-1980s and represent a lifetime of hard work and dedication from the founding principal Ken Bailey. BCM provides a range of financial advisory services including retirement planning, investment, insurance, SMSF, estate planning and strategic financial planning advice.

Pride Advice joined the AZ NGA network in June 2015 and is led by CEO Brett Schatto. According to Brett “this is a logical step for Ken who is looking for a succession solution for both himself and his clients, and for Pride Advice. BCM shares similar values to Pride including its belief in fee-based advice, a focus on service, and client best interests. Pride joined AZNGA in order to accelerate our growth plan. This deal represents the first step in achieving our growth objectives.”

Ken Bailey says “For me, a ten year deal with AZ NGA was too long as I wish to retire much sooner. Its great to know the Pride Advice has the backing of AZ NGA and that Brett and the team will be around long after Ive retired to look after my staff and clients.”

AZ NGA CEO Paul Barrett says “When proprietors enter into arrangements with AZNGA, it is not only to solve their long term succession, but to enable growth. Brett has an ambitious plan for growth which in partnership with AZ NGA he is able to achieve. This is a landmark deal for AZ NGA because it enables us to solve succession for businesses like BCM where the business owner does not want to commit to the long term.”

AZ NGA’s unique partnership with Azimut Holdings enables its subsidiaries to enter into Merger & Acquisition discussions with the confidence of knowing that if an acquisition makes sense financially and culturally it can be executed with certainty.

Brett says ”Another great benefit of our expansion is that we can now offer new equity participation in Pride Advice for the next generation of adviser/business owner.” After the deal Price Advice will be responsible for 1,100 clients and over $250 million of FUA.

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