Professional services company, AZ NGA, has acquired a stake in Sydney-based financial advice firm, Foster Raffan iPlan, saying it will support the business to accelerate its growth and expansion ambitions.
Based in North Sydney, Foster Raffan iPlan is led by principals Daniel Molesworth and Robert Wood and specialises in wealth management and retirement planning advice, according to AZ NGA.
It says the business was created in mid-2021 through the merger of established advisory firms Foster Raffan and iPlan.
Molesworth says the group’s strategic partnership with AZ NGA “…will provide access to additional capability and capacity, scale benefits and opportunity to be part of a large, dynamic community of advisers, accountants and business leaders.”
He says advice businesses today “…need more support than ever to continue growing and improving the services they offer to clients.
“We recognised that, in order to achieve our goals, we needed to get bigger and more efficient so we wanted a partner that could help us drive business improvements, negotiate sharper rates and service level agreements, and invest for the future.”
Paul Barrett, CEO of AZ NGA, says his firm had been tracking Foster Raffan iPlan’s progress since 2021, after previously looking at the business.
He has known Molesworth and Wood independently for many years “…and I have been impressed by how they have been able to build their respective businesses and then link up to form Foster Raffan iPlan and really take that business forward.”
