AZ Next Generation Advisory (NGA) has bought its 13th financial advice practice – a former Financial Wisdom business in Perth.

On-Track Financial Solutions was acquired for $5.8 million through a 49% share swap and a progressive buyback over the next 10 years. The remaining 51% stake will be paid to the practice’s founders in cash, spread over two years.

On-Track was created through the partnership of two businesses founded by Odelia D’Silva and Bruce Nicholson.

It has operated in various forms since 1989 and has a staff of nine, including three financial advisers. It provides a full suite of financial services including life insurance.

AZ NGA CEO Paul Barrett says the dealer group has a shortlist of financial planning businesses it will target for further consolidation.