AZ NGA acquires Tasmanian advice firm

AZ NGA has acquired Hobart-based financial advisory firm Foundation Wealth Advisers (FWA).

FWA specialises in advice for retirees and pre retirees across Hobart and surrounding regions. It is led by principal and private client advisers Stuart Bale and Mark Hudson.

Staffing seven people, including the two advisers, AZ NGA said the firm has a deeply loyal client base.

AZ NGA already holds a minority stake in FWA, acquired through its 2024 acquisition of AMP's equity portfolio.

AZ NGA chief growth officer Chesne Stafford said the acquisition marked a significant step in strengthening the group's presence in Tasmania.

"Stuart and Mark have built a high-quality, client-focused business with strong, enduring relationships. We're excited to deepen our partnership and accelerate our growth in Tasmania," she said.

"Our shared values and cultural alignment position us well to build a market leading advice business and broaden access to high-quality financial advice."

FWA is licensed by Charter Financial Planning, which sits under Entireti's umbrella of financial services firms.

Hudson said the transaction supported a smooth leadership transition while positioning the firm for future growth.

"We're approaching the next stage of our careers and wanted a partner who would look after our team and clients while helping the business evolve," he said.

"After considering our options, AZ NGA was the clear choice-particularly given the strength of our existing relationship. They've been collaborative, flexible and highly professional throughout the process."

AZ NGA recently said it is also expanding its footprint in regional New South Wales, partnering with integrated financial planning, accounting and mortgage broking business Back to Back Financial Planners in Young, NSW. This was the first major move following the appointment of Nathan Jacobsen as chief operating officer in February this year.