Licensee Fortnum Private Wealth and AZ NGA-owned professional advisory firm Nestworth Financial Strategists have partnered to acquire Australian Unity’s financial advice business.
In a joint media statement from Fortnum and Nestworth, it said the deal includes Australian Unity’s advice business consisting of 18 employed advisers, as well as the group’s corporate superannuation services business.
Additionally, Nestworth will become one of Australian Unity’s preferred advice providers.
Concurrently, Fortnum will purchase Australian Unity’s financial advice AFSL holder Australian Unity Personal Financial Services and continue to provide licensing and business support to PFS’s 150 self-employed advisers.
The deal, which is expected to be completed by 1 December this year, will increase the combined number of advisers across two AFSLs to circa 400.
Established in 2002, Australian Unity Advice supports approximately 31,000 clients across both the employed and self-employed advice channels.