Integrated wealth firms consolidate interstate reach
AGS Financial Group has finalised its acquisition of fellow integrated wealth firm, Hartley Financial and Tax & Wealth, consolidating their presence across Sydney and Melbourne and range of capabilities covering financial planning, accounting, taxation, mortgages and lending.
The acquisition sees the businesses combine operations and deliver advice under the AGS Financial Group brand and Akumin Financial Planning licensing, add new locations Picton and Sutherland in New South Wales and Parkdale in Melbourne to its service areas and grow group annual revenue by approximately $2.6 million.
Paul Bolstad, AGS Financial Group chief executive, said the deal reflects the similar positioning of both firms around “long-term client relationships and end outcomes rather than individual transactions” across its wide-ranging offering.
“What attracted us to Hartley was that we didn’t need to change how they work to make this fit,” he said.
“They run the same integrated model we do, with planning, tax, accounting and lending under one roof, and they hold the same values.
“Their focus has never been the single transaction, it’s the end outcome and the relationship behind it. That’s our language too, which is why clients on both sides should see continuity rather than disruption.
“The geographic and service menu synergies add a lot. Clients want advisers who are reachable and who understand their community, but they also want the depth of a group that can handle the tax return, the mortgage and the retirement plan without handing them off three times.
“Hartley’s Picton, Sutherland and Parkdale alongside our existing Sydney & Melbourne locations lets us offer both.”
A statement from AGS Financial Group said the teams remained focused on maintaining continuity for clients, with adviser, broker and accountant relationships unchanged, as well as existing phone numbers, offices, files and engagements.
David Hartley, Hartley Financial’s Founder, said the firm was looking forward to leveraging AGS Financial Group’s specialist expertise across super and retirement planning, SMSF, risk and insurance, wills and estate planning, and aged care advice to deliver improved outcomes for members.
“While ownership is changing, it will largely be business as usual,” he said in an announcement to clients.
“Many of your existing contacts remain the same, and I’ll continue to be involved and available to help where needed.”
