Perth advice firm plans national expansion with AZ NGA deal

AZ NGA acquisition Perth

5 October 2023
| By Laura Dew |
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AZ Next Generation Advisory (AZ NGA) is to acquire a stake in Perth advice firm The Wealth Designers (TWD).

Founded by Troy MacMillan in 2009, the firm has around $1 billion in funds under management and employs 10 financial advisers. 

It specialises in value-based advice, wealth management and UK pension transfers. 

Paul Barrett, chief executive of professional services firm AZ NGA, said the deal will provide opportunities for TWD to expand nationwide. 

“Troy and TWD are established and highly respected not only in Western Australia but across Australia, and we are extremely excited to attract and partner with a business of this calibre,” he said.

“There is a lot of alignment between AZ NGA and TWD in terms of our thinking, values and culture. TWD is very much focused on growth. The business has the right people, structure and systems in place to achieve its growth ambitions and mission to help more Australians achieve their financial goals.”

MacMillan said: “We had grown to a certain size, mainly organically, but we recognised that, in order to achieve our goals, we needed additional firepower. AZ NGA brings that firepower. We want to have a boutique office in every Australian capital city disseminating our unique style of values-based advice, and we are ready to start ramping things up.

“We have always had a different approach to financial advice and we are proud of that difference. We want to make it available to as many people as possible.”

Other AZ NGA member firms in Western Australia include McKinley Plowman, Wealthwise and On-Track Financial Solutions.

Barrett added: “We are bolstering our presence in WA by acquiring the capability and capacity to deliver specialised advice to more people.”

There have been several deals made by AZ NGA this year, most recently the acquisition of a stake in Foster Raffan iPlan in Sydney in August. 

In May, AZ NGA made a strategic partnership with Rose Partners, a Melbourne-based accounting and advisory business with a high-net-worth and healthcare professional client base. 

It also made two deals in February when it acquired a strategic stake in the accounting and advisory firm McLean Delmo Bentleys and SCM Financial Group in Victoria.

Last August 2022, it partnered with national financial advisory group Invest Blue to invest in Philippines-based paraplanning business, Virtual Business Partners.
 

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