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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