Former Count Financial member firm, Acumon Accountants and Business Advisors is the latest accounting firm to join independently-owned licensee GPS Wealth, citing the dealer group’s strong reputation and innovative client engagement tools as key reasons.
Acumon Accountants and Business Advisors, which has 14 staff in two locations in Newcastle, is the 28th business to join GPS Wealth this year with demand growing for well-resourced, non- institutionally owned licensees, according to GPS Wealth co-founder and director, Greg Holman.
“A growing number of accountants are following the lead of practices like Acumon and offering their clients more than tax and accounting services,” he said.
“They’re looking to become a one-stop-shop and look after their clients’ total financial needs.”
Scott Padgett, Acumon financial adviser said the firm decided to partner with GPS Wealth after a thorough due diligence process which began in June.
“GPS Wealth’s client-first culture and philosophy around ‘exciting life, boring money, not the other way around’ really resonated with us and suited the type of clients we look after which are mainly small business owners, medium-to-high income earners and self-managed superannuation fund investors who want to be smart with their money and build a solid retirement nest egg,” he said.
“A major priority for us was the ability to engage with our clients on a deeper level and GPS Wealth has a range of effective client engagement tools which allows us to sit down with clients, give them a quick overview of their position, show them their progress and clearly articulate the value we add.”
Acumon was an early mover into financial planning. In addition to providing tax and accounting services, it started offering holistic advice to clients in the late 1990s. The firm’s principals Scott Atkins and Christian Tapp wanted to help clients make smart financial decisions, better manage their wealth and improve their financial position.
Holman said Acumon was an example of a modern accounting practice which was adding greater value and making a real difference in their clients’ lives.
“There’s an enormous opportunity for accounting practices to have a broader and deeper relationship with clients while boosting their revenue and increasing the value of their business by introducing financial services,” Holman said.
“With the imminent removal of the accountants’ exemption, there’s never been a better time for accountants to explore their options. An established, independently-owned licensee can help them determine the best way for them to take the leap and progress at their own pace.”