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Australian Wealth Advisors Group Ltd. ( (AU:WAG) ) has provided an announcement.
Australian Wealth Advisors Group Ltd (AWAG) has entered a strategic joint venture with Phillip Capital Australia, a prominent global financial services company. This partnership will enable AWAG’s products and services to be distributed to Phillip Capital Australia’s clients and potentially across its global network, enhancing AWAG’s market reach. The joint venture, seeded with over $32 million, is expected to be earnings accretive for AWAG. Additionally, John Miles, a non-executive director at Phillip Securities (Australia) Ltd, has joined AWAG’s investment committee, bringing over 20 years of capital markets experience. This collaboration is anticipated to strengthen AWAG’s position within the Australian financial services industry and benefit both organizations.
The most recent analyst rating on (AU:WAG) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Australian Wealth Advisors Group Ltd. stock, see the AU:WAG Stock Forecast page.
More about Australian Wealth Advisors Group Ltd.
Australian Wealth Advisors Group Ltd (AWAG) operates in the financial services industry, focusing on funds and investment management through Armytage Private and offering services to wealth management advisors via CHPW Financial. The company is also involved in the rationalization of the Australian financial services and wealth management sectors through corporate activism, with directors who are experienced financial services professionals holding key stakes in the company.
Average Trading Volume: 27,988
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$40.9M
Find detailed analytics on WAG stock on TipRanks’ Stock Analysis page.