subscribe to our newsletter

Foreign-backed network acquires SMSF firm

Foreign-backed network acquires SMSF firm
Aleks Vickovich
12 December 2017 — 1 minute read

AZ Next Generation Advisory (AZNGA), a company commercially backed by Italian fund manager Azimut, has wholly acquired an SMSF firm that provides advice and accounting services.

AZ Next Generation Advisory (AZNGA), a company led by former ANZ and CBA executive Paul Barrett, has made its 42nd acquisition since entering the Australian market in 2015, with a successful bid for Henderson Maxwell.

Under the terms of the deal, the two organisations will enter into a share swap, with 49 per cent of Henderson Maxwell shares transferred for AZNGA shares and a progressive buyback.


AZNGA will pay out the remaining 51 per cent stake to the firm's founders.

The self-licensed firm was founded by Sam Henderson, a prominent financial adviser and Sky News Business host, in 2004 and has $170 million in funds under advice.

"This is an exciting new chapter for our business," Henderson Maxwell partner Mr Henderson said.

"We are looking forward to being part of a broader network that will enable further growth and innovation."

Foreign-backed network acquires SMSF firm
puzzle smsf850
smsfadviser logo
join the discussion

Latest poll

Do your clients plan to add additional members to their SMSF if the new six member limit is passed as law?


Get the latest news and opinions delivered to your inbox each morning

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.