Well-known Perth-based financial advice business The Wealth Designers is looking to expand nationally as AZ NGA announces plans to acquire a stake in the firm.
Founded by Troy MacMillan in 2009, TWD has around $1 billion in funds under advice and employs 47 staff, including 10 financial advisers, across locations in Perth and Sydney. The firm specialises in values-based advice, wealth management and UK pension transfers.
MacMillan is well known in the financial advice sector having won the AFA Adviser of the Year Award in 2011 while his firm has won a slew of different advice awards including AFA’s 2018 Practice of the Year.
A statement from AZ NGA says this deal will mark its 130th transaction, including 20 transactions in Western Australia.
Paul Barrett, CEO of AZ NGA, says the deal will strengthen the group’s presence in Western Australia and “…create opportunities for TWD to expand nationally.”
He notes that MacMillan and TWD “…are established and highly respected not only in Western Australia but across Australia, and we are … excited to attract and partner with a business of this calibre.”
MacMillan says that after years of building and refining TWD’s value proposition, processes and enterprise architecture, the time was right to introduce a strategic partner.
“We had grown to a certain size, mainly organically, but we recognised that, in order to achieve our goals, we needed additional firepower,” adding that AZ NGA “…brings that firepower.”
…We want to have a boutique office in every Australian capital city…
“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.”
He adds that the firm has 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.”
Barrett says there is alignment between the two firms “…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.”
He notes the TWD transaction highlighted AZ NGA’s commitment to investing in high quality advice businesses throughout Australia.
“We are constantly on the lookout for high quality businesses around Australia and we are leveraging our existing relationships to strengthen our position.”
AZ NGA member firms in Western Australia include McKinley Plowman (Perth & Joondalup), Wealthwise (Osborne Park, Mandurah and Cockburn) and On-Track Financial Solutions (Como).
