In 1982, Walter Fries founded the business advisory AF Wirtschaftsberatung in Aschaffenburg together with his partner at the time. In the initial years, the services focused on financing concepts for medium-sized companies, using the planning concept according to Kleinebeckel, as well as the support of real estate projects through PAN Immobilien GmbH. The company moved into its offices in Görresstraße, Aschaffenburg and started an event that would become a tradition: the annual New Year’s Reception.