Novigi adds Turning Point Advisory to growing list of acquisitions
Financial services sector data & technology consultancy Novigi has added AI business transformation specialist Turning Point Advisory, its second acquisition in recent months.
Sydney-based Turning Point was established just last year by former Deloitte generative AI leaders Alex Moynihan and Karan Joshi with a focus on AI-powered products and solutions for operational transformation and business improvement.
The business is Novigi’s second purchase in recent months, having also added the super consulting & managed services branch of Iress along with tech advisory QMV and 360 Managed over the past year, growing to a headcount upwards of 400 professionals.
“We’re delighted to bring the Turning Point team on board to complement and strengthen our AI capability and look forward to working together to help our clients navigate the opportunities and challenges ahead,” said Novigi CEO Ash Priest, with Mercer, AMP, MLC, Rest, and MetLife featuring among the firm’s many high-profile financial services sector clients.
Novigi added that Turning Point’s AI-driven frameworks and propriety tech, including software creation tool Luma and process improvement platform Ora, which aim to accelerate the prioritisation of opportunities, rapidly prototype solutions, and scale AI-enabled initiatives, would underpin its work across all business lines, supporting both client delivery and internal innovation.
For Moynihan, it’s his second quick-fire strike in just over five years, having sold his previous AI start-up The Eclair Group to Deloitte in 2019 after departing the Big Four firm just two and a half years earlier. Joshi meanwhile spent close to a decade between Deloitte and Ernst & Young prior to co-founding Turning Point alongside Moynihan in the middle of last year.
“We’re very excited to join Novigi for this next stage of our journey,” Moynihan said. “With the rapid emergence of AI, we are witnessing a fundamental disruption to the professional services business model, and our team is looking forward to combining our expertise with Novigi’s scale and reach, to help clients unlock new possibilities through AI-powered transformation.”
Headquartered in Wollongong with five offices across Australia – including recent upgrades in Melbourne, Sydney and Brisbane and a launch in Canberra early this year – Novigi emerged out of actuarial consultancy Rice Warner in 2016, with the latter then going on to join Deloitte’s financial advisory practice in 2021. The firm has featured on the AFR Fast 100 list for the past three years.
“This reflects our commitment to sustainable, strategic growth and integrating innovative technologies that help our clients stay ahead in a rapidly evolving market,” Priest said of Novigi’s latest addition. “We’ve demonstrated our ability to grow through targeted acquisitions, and Turning Point stood out for their practical application of AI and results-driven approach to transformation.”
