Jacobsen is currently Chief Executive Officer of AZ NGA-backed outsourcing specialist, Vital Business Partners (VBP).

Prior to VBP, Jacobsen held a number of senior executive positions including Managing Director of listed company Diverger, Managing Director of Paragem, and General Manager roles at Perpetual Private.

At AZ NGA, he will report to Group Chief Executive Officer Paul Barrett and oversee the delivery of the group’s unique proposition to accounting and advisory firms.

He will have responsibility for driving business transformation initiatives, including technology and integration, and building the systems and infrastructure to support AZ NGA’s rapid growth.

Barrett said that, after an extensive and competitive search, Jacobsen stood out as the ideal candidate to join AZ NGA’s leadership team at this critical stage in the advice platform’s journey.

“Nathan is a highly respected, proven leader and I’m excited to have him on board to help execute our vision and strategy to build Super firms and Centres of Excellence,” he said.

“Under Nathan’s leadership, VBP has achieved significant operational and cost efficiencies, boosted staff and client satisfaction, and successfully launched new services. VBP is in a strong position to continue growing and meeting the outsourcing needs of advisory businesses. “

Jacobsen said: “I’m excited about the opportunity to work closely with Paul and the team to accelerate the growth of AZ NGA and execute the group’s ambitious strategy.”

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Paul Barrett

Advice platform, AZ NGA has acquired integrated financial planning, accounting and wealth management firm, Financial Decisions, strengthening AZ NGA’s footprint on Sydney’s northern beaches and expanding its capability and capacity to serve high net worth individuals and families.

Headquartered in Mona Vale, Financial Decisions has 35 employees, including eight financial advisers, across two locations. The firm’s 16 shareholders are all employees or board members. It specialises in comprehensive strategic advice and multigenerational advice for corporate executives, professionals, small business owners, and family offices.

Paul Barrett, AZ NGA Group Chief Executive Officer, said the deal provided access to the northern beaches’ high growth corridor, an area where AZ NGA had previously lacked a meaningful presence.

“We are excited to partner with Financial Decisions to grow the business and deliver quality advice to more people,” he said.

“The firm’s integrated, multi-disciplinary model supports AZ NGA’s strategy of providing end-to-end solutions, ensuring stronger and deeper client relationships, long-term client retention and a steady stream of high-quality referrals.”

Financial Decisions’ Founder and Chief Executive Officer, Damien Cooper, said the partnership delivered succession and growth solutions, and created a pathway and opportunities for future leaders and partners.

It would also enable the firm to accelerate growth through M&A and organically by attracting experienced advisers as well as mentoring younger associates through their professional year.

“We had a good look at the various strategic capital partners in the market and their offers, and the partners and shareholders came together and agreed that AZ NGA was the right fit for us, not just in terms of their model and offer but the cultural alignment,” Cooper said.

“Succession and growth were the main areas of focus for us, and our partnership with AZ NGA positions us strongly for the future.”

The transaction will see Cooper step down as CEO to focus exclusively on advising clients, something he has wanted to do for some time. Cooper will be replaced by the group’s Managing Director and Principal Adviser, Blake Conde.

Conde said AZ NGA’s Super firm strategy reflected the natural and necessary evolution of the advice sector, drawing parallels to the accounting profession.

“Running an advice business is increasingly complex and expensive due to red tape and compliance, and additional considerations such as the compensation scheme of last resort, which is making it critical for businesses to find efficiencies in order to not only survive but thrive,” he said.

“Our focus is on delivering excellent service and advice to our clients and growing the business, and being able to leverage the resources, expertise and scale of AZ NGA gives us a competitive advantage. Advice businesses need to get bigger to meet the unmet advice needs of Australians.”

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Paul Barrett

Advice platform, AZ NGA has entered a strategic partnership with Sydney Financial Planning in a deal that delivers both succession and business growth solutions to the 38-year-old firm.

Founded in 1988 by Bill Bracey, Sydney Financial Planning has 18 employees, including five financial advisers, and over $600 million in assets under advice.

The firm also has an office in Wollongong, trading as Illawara Financial Planning.

Paul Barrett, Chief Executive Officer, AZ NGA, said Sydney Financial Planning presented a compelling strategic opportunity for the group to increase its presence in the high growth corridors of Sydney’s eastern suburbs and the Illawara region.

“Sydney Financial Planning has a loyal engaged clientbase, a strong brand and reputation, and a robust, client-centric advice model that has been developed and refined for over 38 years,” he said.

“Over that time, Bill has trained and mentored a number of exceptional advisers, who are still with the business today. There is a lot of cultural alignment between both firms and total agreement about accelerating growth and unlocking potential.”

Bracey said Sydney Financial Planning had strong, long standing and trusted client relationships and, in turn, needed a partner that it could trust to serve the best interests of clients.

“My philosophy is that I’m in the business of trust and relationships and when I’m not doing that, I’m a financial planner, and AZ NGA gets it,” he said.

“This partnership provides continuity and certainty for employees and clients, and also support to help us grow at a faster rate and provide career development opportunities for team members and future leaders.”

“It brings fresh energy, which is important because I’m in my early 60s, and I need to ensure that the business doesn’t get stale and stagnant but embraces new ideas and innovative thinking to push it forward.”

Barrett added that Sydney Financial Planning’s proven track record of identifying, training and developing talent, and putting graduates through their Professional Year, was another major attraction.

“Sydney Financial Planning has a structured development plan and adviser pairing model, which is designed to enhance the experience of PY advisers and up-and-coming client services employees,” he said.

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Paul Barrett

Advice platform, AZ NGA, has entered a strategic partnership with Adelaide-based accounting and financial planning firm, Oreon Partners, marking a significant step forward in expanding AZ NGA’s presence in South Australia and supporting Oreon’s continued growth.

Established in 2014, Oreon Partners is a highly regarded integrated firm with six partners and 70 employees. The team provides tailored accounting, business advisory, tax and financial planning services to individuals and small-tomedium-sized enterprises. Oreon leverages technology to deliver efficient, personalised service and build long-term relationships with clients.

Paul Barrett, AZ NGA Group Chief Executive Officer, said both parties demonstrated strong cultural and strategic alignment, and a shared ambition for long-term, partner-driven growth.

“Oreon Partners is a natural fit and we are excited to welcome the team to our community and work together to grow and achieve our goals,” he said.

“Oreon has deep, long lasting, trusted client relationships, and a collaborative and respectful culture, which has underpinned its success to date.”

It has built a strong referral network, which generates a steady stream of inbound leads, and fuels organic growth.”

Oreon Partner, Jarrad Dunn said the partnership would enable Oreon to tap into AZ NGA’s resources and network to further enhance its services and create new opportunities for team members. “We are passionate about providing career pathways and leadership opportunities for our people. This partnership supports our vision to grow the number of partners and strengthen our ability to serve our clients,” he said.

“The next generation of professionals is looking for meaningful career progression without the traditional financial barriers. AZ NGA’s model is appealing because it enables emerging leaders to step into partnership roles in a way that is accessible and sustainable.”

“Our partners are focused on growing the business, both organically and through strategic acquisitions. While we are not planning any exits in the near future, we are committed to creating pathways for new leaders to join the partnership and contribute to our long-term success.”

Looking ahead, Oreon remains focused on planning for the future, both in terms of business growth and succession. With AZ NGA’s support and shared mindset, Oreon is well-positioned to continue delivering exceptional outcomes for clients while creating meaningful opportunities for team members. The partnership reinforces Oreon’s commitment to its people, clients, and staff alike, and ensures the firm can maintain its strong culture and values as it grows.

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Bill O’Byrne

Advice platform, AZ NGA has increased its stake in financial advisory firm, Geographe Financial Group, one of Western Australia’s oldest financial planning businesses.

Established in 1976 by Bill O’Byrne, Geographe Financial Group provides holistic advice on superannuation, investments and insurance to clients from the South West region of Western Australia through to Perth.

The firm has five financial planners, a professional year associate, 10 employees and offices in Busselton and Bunbury.

In 2024, AZ NGA gained a minority stake in Geographe Financial Group and 15 other leading advice businesses through its acquisition of AMP’s Equity Portfolio, with ambitions to increase its shareholding in some firms over time and ultimately become a majority owner.

Paul Barrett, AZ NGA Group Chief Executive Officer, said the transaction reflected the group’s ability and preparedness to structure deals to meet the evolving needs and timeframe of advisers and business owners.

“We’ve gotten to know the exceptional team at Geographe really well in the past year and they are experts at what they do, and passionate about raising up the next generation of advisers,” he said.

“The firm provides a truly integrated advice service, giving confidence to clients who have a dream for a better and richer life, and we are excited to expand our relationship and assist with the next phase of growth.”

The deal will see Bill O’Byrne retire and longstanding Geographe Director Craig Gibson, who joined the business in 1986, wind back his involvement in day-to-day operations to focus exclusively on seeing clients.

Financial advisers, Sean Spencer and Brent O’Byrne, who is Bill’s son, will increase their shareholding and step into expanded leadership roles.

ccording to Spencer, the firm’s strategic partnership with AZ NGA delivers both succession and growth solutions, as well as greater clarity and confidence for remaining partners and staff about the future.

“The South West region is growing rapidly and there is a fantastic opportunity to serve more clients, partner with other advisers in the area and expand through M&A,” he said.

“We have ambitious plans to grow and add more planners, and also increase our productivity, efficiency and capacity by leveraging the resources, expertise and scale of AZ NGA.”

Over the past 50 years, Geographe has primarily grown through organic activity, receiving a constant stream of referrals from existing clients and centres of influence, however, M&A will be a bigger part of the firm’s growth strategy going forward.

“We have established strong relationships within our organisation, and there is significant interest from other firms in joining us. With the support of AZ NGA, we are well-positioned to accelerate our growth and successfully execute our strategic plans,” Spencer said.

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Paul Barrett

Advice platform, AZ NGA, has entered a strategic partnership with national financial advisory firm, MiQ Private Wealth (MiQ), in a deal that provides a succession solution for MiQ’s retiring partners, a pathway for future leaders to become partners, and capital to fund the group’s expansion plans.

For AZ NGA, the deal adds a large, high performing advisory firm to its thriving advice community and expands its regional presence through MiQ’s seven office locations including Geraldton, WA; Toowoomba, QLD; and Canberra, ACT.

Paul Barrett, AZ NGA Group Chief Executive, said MiQ’s unique history and evolution from a group of individual practices operating under its own AFSL to a fully integrated, corporatised business had resulted in an exceptional business, underpinned by a diverse, collaborative and entrepreneurial culture.

“Over the past ten years, MiQ has grown significantly through both organic activity and a disciplined M&A strategy focused on acquiring firms within its AFSL community and known regional opportunities,” he said. “

The group services a broad client base ranging from wealth accumulators and retirees to high-net-worth individuals, as well as a specialist Asian business servicing Chinese, Singaporean and Taiwanese clients.”

David Brown, MiQ Chairman said the group commenced a formal process for a strategic partner in 2024 and attracted interest from six parties, of which AZ NGA stood out for its ability to support businesses to grow while also meeting the needs of both those exiting the business and those continuing on.

“We were looking for a way to enable retiring and retired partners to realise the value of their equity and allow others to buy in,” he said.

“We also wanted to continue growing, particularly through M&A. We could have borrowed more money from the bank and grown alone, but we decided to bring on a strategic partner who could help us scale up and accelerate our journey.”

“We are excited to partner with AZ NGA and take MiQ to the next level.” Established in 2015 and headquartered in Upper Mount Gravatt, Queensland, MiQ is a corporatised business with over 50 employees and 15 financial advisers.

Over the past ten years, the business has grown significantly through both organic and M&A activity. It has eight advice partners and a number of additional shareholders, some of which have retired but retained equity in the business.

“The Board wanted a partner who could provide professional development and career opportunities for our team, and also a network of peers for advisers in our regional offices,” Brown said.

“We can’t provide that at the moment, but AZ NGA has people all over the country and specifically in areas where we are, which will expose our advisers to local, like-minded advisers and new opportunities.”

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Jodie Blackledge

Professional services group, AZ NGA, has appointed experienced financial services leader, Jodie Blackledge, to the role of Group Chief Financial Officer, reporting to Group Chief Executive Officer, Paul Barrett.

“We are extremely fortunate to have Jodie join AZ NGA at this important time for the business, as we focus on accelerating growth, expanding our range of services, and achieving our ambitious goals and targets,” Barrett said.

“Jodie will be working closely with me and the executive team to leverage our commercial finance capabilities and drive sustainable value for employees, clients and shareholders.”

Previously, Blackledge was Group Chief Executive Officer of national private wealth firm, Fitzpatricks Financial Group. She joined Fitzpatricks in 2018 and held a number of roles including Chief Operating Officer and Chief Financial Officer.

Prior to Fitzpatricks, Blackledge was Chief Financial Officer at AUB Group Limited and Chief Financial Officer at The Trust Company.

“AZ NGA, in partnership with quality accounting and advice businesses, is investing in the future of the sector, and I’m excited to be part of that and make a meaningful contribution going forward,” Blackledge said.

“The financial advice sector has transformed over the last 5-7 years, with the exit of the banks and the larger institutions and the rise of professional advisers. The investment AZ NGA is making in the industry will shape the future of advice for the next generation of advisers and clients.”

Blackledge is a Chartered Accountant and graduate of the Australian Institute of Company Directors. She is also a Non-executive Director of the Women’s Housing Company, a not-for-profit organisation that provides housing and support to vulnerable women and children.

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Paul Barrett

AZ Next Generation Advisory (AZ NGA) and Azimut have completed the sale of a majority interest in AZ NGA to funds managed by Oaktree Capital Management L.P, (“Oaktree”).

As part of the transaction, which was previously announced on September 30, 2024:

• Oaktree has invested $240 million in AZ NGA to become the group’s largest shareholder.
• Azimut, management and business owners retain a strategic stake in the company.
• AZ NGA, Azimut and Oaktree are committed to working together to accelerate M&A activity, drive organic growth and cement AZ NGA’s position as Australia’s finest professional services company.

Paul Barrett, AZ NGA Chief Executive Officer, said: “We are extremely privileged and excited to work with a world class strategic investor like Oaktree”.

“We have ambitious goals to triple in size over the 3-5 years, through a combination of M&A and organic growth, and our strategic partnership with Oaktree gives us the capital to fund our short-to-medium term plans and continue enhancing our proposition to accounting and advice businesses,” he said.

“In the next 12 months, our focus is on accelerating our Super firm program, ramping up M&A activity, key transformation initiatives and continuing to elevate to a highperformance culture.”

Byron Beath, Oaktree Managing Director, said: “AZ NGA has successfully enabled business owners and their clients to simultaneously grow their practices while effectively managing ownership succession, which is critical for the natural evolution of quality businesses”.

“This achievement is a testament to the exceptional leadership of Paul and his team,” he said.

“By providing additional capital through this transaction, AZ NGA will further enhance their ability to execute on their plan of organic and inorganic growth, empowering their talented staff to be the national leader of providing financial advice and services.”

Massimo Guiati, Azimut Holding Chief Executive Officer and AZ NGA Chairman, said: “Azimut is committed to AZ NGA for the long-term and we look forward to working with Oaktree to drive the growth and success of AZ NGA”.

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Paul Barrett

AZ Next Generation Advisory (“AZ NGA” or the “Group”), a professional advisory firm, has entered a strategic growth partnership with funds managed by Oaktree Capital Management L.P., (“Oaktree”), a leading global investment management firm specialising in alternative investments, to support the Group’s ambitious growth plans. As part of this agreement, Oaktree will invest A$240 million and become the largest shareholder of AZ NGA, while Azimut Group (“Azimut”), Management and current shareholders will continue to retain a strategic stake in the Company.

AZ NGA strategically invests in leading financial planning and accounting businesses with the goal of fostering growth and enhancing operational efficiencies to deliver superior services to clients. AZ NGA’s network of 34 partner firms, including financial advice and accounting businesses and a number of service providers to the financial services industry, collectively manages $15.1bn of assets under advice, as of 31 August 2024.

Through this partnership, AZ NGA, Azimut and Oaktree will work together to accelerate acquisition and integration activity and enhance AZ NGA’s position as the growth and succession partner of choice for financial advisory and accounting firms in Australia.

“We are excited to work with a world class strategic investor like Oaktree as we execute our strategy and deliver on our promise to our people, community and clients,” said Paul Barrett, AZ NGA Chief Executive Officer. “With strong momentum to-date and an attractive pipeline of M&A opportunities, AZ NGA is strongly positioned for accelerated growth alongside Azimut and Oaktree.”

Massimo Guiati, Chief Executive Officer, Azimut Holding and AZ NGA Chairman said: “Azimut is committed to AZ NGA and the Australian market for the long-term. This transaction brings AZ NGA a step closer to achieving its vision of being Australia’s leading professional advisory firm, and we look forward to working with Oaktree to continue supporting AZ NGA in its next chapter of growth.”

Byron Beath, Managing Director at Oaktree commented: “AZ NGA and the leadership team have established themselves as the growth and succession partner of choice for high performing financial planning and accounting firms. Oaktree has invested in financial services platforms globally, such as Ascot Lloyd and Atomos, and we look forward to enhancing AZ NGA’s strong market position and sharing Oaktree’s seasoned investment philosophies to deliver even greater value to AZ NGA’s retail and wholesale clients. We will work together to achieve our shared vision of AZ NGA as Australia’s leading consumer financial services advisory firm.”

Co-Portfolio Managers of Oaktree’s Special Situations Strategy, Matt Wilson and Jordon Kruse added: “We are extremely excited to be part of this next stage of growth for AZ NGA and we look forward to partnering with Azimut, Paul and the entire AZ NGA network to fuel AZ NGA’s further expansion through our global experience, resources and network.”

The transaction is expected to close in the fourth quarter of 2024, subject to regulatory approvals. 2 / 2

Azimut and AZ NGA are being advised by Jefferies Australia as financial adviser and Corrs as legal adviser on the transaction.

Oaktree is being advised by Jarden as financial adviser and Clifford Chance as legal adviser on the transaction.

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Paul Barrett

Professional services group, AZ NGA, and advice business services group, Entireti (formerly Fortnum Private Wealth), have entered a strategic partnership with AMP Limited (AMP) that will transform the advice industry landscape and create a compelling offer for AMP’s financial advisers.

Under the deal, AZ NGA will acquire AMP’s minority equity stakes in 16 leading AMP-aligned firms and provide ongoing support to drive efficiencies and grow their business. Entireti will acquire AMP’s financial advice businesses including AMP Financial Planning, Hillross, and Charter Financial Planning. It will also acquire licensee services provider, Jigsaw Advice Solutions. AMP will have a 30% shareholding through a new joint venture entity.

The joint venture entity will be formed between Entireti and AMP, and through this entity, Entireti will provide comprehensive licensing and business services to AMP’s self-employed and self-licensed practices. The new entity will sit under the Entireti umbrella, which includes Fortnum Private Wealth and Personal Financial Services (formerly Australian Unity Personal Financial Services).

Paul Barrett, AZ NGA Chief Executive Officer, said the transaction highlighted AZ NGA’s increasing focus on larger transactions and its ability to innovate to satisfy the needs of different stakeholders.

“This is our biggest transaction to date and we are excited to welcome 16 quality businesses that are focused on growth to our community,” he said. “This deal expands our national footprint, materially increases our exposure to the growing value of the advice margin and takes us a step closer to achieving our goal to be Australia’s leading professional services company.”

Neil Younger, Entireti Chief Executive Officer, said the transaction significantly expanded Entireti’s national network of professional advisers and strengthened its ability to enhance its value proposition to financial advisers, employees, and clients by adding material scale, resources, and expertise. Entireti will ensure a seamless transition by providing continuity of AMP management, which will also ensure the long-term success of the new entity and the broader Entireti team. A number of AMP team members will also join AZ NGA.

“We are excited to partner with AMP and applaud their commitment to a sustainable standalone advice business that can support and lead their advisers into the future,” Younger said. “We have the infrastructure, experience, and capability to help advisers efficiently deliver quality advice, increase their productivity, and grow their business. Importantly, they will be welcomed into our vibrant, collaborative advice community, which has many advantages including the sharing of ideas, experiences, and connections. We look forward to learning from each other.”

Alexis George, Chief Executive Officer, AMP Limited, said the coming together of AMP, Entireti, and AZ NGA created a strong alliance to take the AMP advice network into the future.

“AMP has been dedicated to creating a new model for our advice business to provide certainty for AMP advisers and our people. We believe this partnership achieves our goals and is the right strategic fit. Entireti and AZ NGA really understand advice businesses and what they need to succeed, and together we are aligned on the goal to support advisers to build strong healthy businesses and to help deliver financial advice to more Australians. Each of us is committed to playing a key role in reimagining advice and positively contributing to the growth and advancement of a thriving advice industry.”

The transaction is expected to be completed by the end of the calendar year. On completion, Entireti will have a network of over 1,300 financial advisers. The deal will mark AZ NGA’s 158th transaction since inception, 19th deal so far this calendar year, and second deal in collaboration with Entireti. In November 2023, Entireti and AZ NGA-backed advisory firm Nestworth Financial Strategists teamed up to acquire Australian Unity’s Financial Advice businesses including the group’s employed planner business, corporate superannuation services business, and AFSL entity, Australian Unity Personal Financial Services.

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