Aviva Australia today announced that it has acquired a stake in AG Private Advisory (AGPA).
Aviva Australia today announced that it has acquired a stake in AG Private Advisory (AGPA).
AGPA is a new financial planning practice that will specialise in providing financial planning advice for individuals, and business superannuation advice for small to medium sized enterprises. AGPA has offices in Sydney, Melbourne, Adelaide, Perth and Brisbane.
Aviva's Grant Salmon, chief operating officer, said that a stake in AGPA continues Aviva Australia's successful strategy of making strategic investments in growing financial advice businesses.
"Investment markets are currently volatile which will bring new opportunities as Aviva has the financial strength to look for strategic acquisitions. Our strategy is performing well and we continue to seek new investments." said Mr Salmon.
Brett Sanders, chief executive officer of AG Private Advisory said: "AGPA is a new business, but with an established client base and a high quality team. Aviva provides not only capital, but high quality services we can tap into that will help us grow AGPA to be a prominent player in the Australian market."
Aviva Australia also has stakes in Professional Investment Services, Meritum Financial Group, Infocus Wealth Management and Financial Technology Securities.
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About Aviva
We are the Australian face of the global Aviva group - a world leader in financial services.
Aviva is the world's fifth-largest insurance group and the largest insurance services provider in the United Kingdom. We are the leading provider of life and pension products in Europe and are actively growing our long-term savings businesses in Asian markets, the USA and Australia.
We have premium income and investment sales of $103.35 billion and $764.66 billion of assets under management. Our 59,000 employees serve over 40 million customers.
Aviva has over 150 years of continuous operation in Australia, where our main activities are life insurance, investments and superannuation.
Aviva's consistent record of innovation in the financial planning market dates back to the early 1990s when its Navigator technology and platform first allowed a range of investments to be consolidated into one portfolio. Today, Aviva continues to lead the industry with award-winning wealth creation and wealth protection products.
Together with Portfolio Partners, a funds management company which is also part of the Aviva group, we manage or administer more than $27 billion in funds for more than 300,000 customers.
*Figures quoted are at end 31 December 2007 and in Australian dollars.
Disclaimer
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