Brisbane-based accounting firm, Romano Business Accountants, and financial planning practice, dR & Associates, have joined leading accounting and advice licensee, GPS Wealth, citing the dealer group’s client engagement tools, commitment to helping practices grow, and deep understanding of practitioners’ needs as key reasons.
Romano Business Accountants, a medium-sized practice which employs six staff including four accountants, has gained a limited authority from GPS Wealth, which will allow it to continue compliantly providing advice on the establishment or winding up of self-managed superannuation funds (SMSFs), after the removal of the accountants’ exemption on July 1, 2016.
Similarly, dR & Associates, which has a referral partnership with Romano Business Accountants, has become a full corporate authorised representative of GPS Wealth, switching from insurance, financial planning and lending licensee, AIW Dealer Services.
Iolanda Romano, principal of Romano Business Accountants, said the imminent introduction of the new regulatory framework for accountants pushed the practice to lock-in a flexible, reasonably-priced licensing solution.
“Under the new rules, I needed to complete additional training which I did through GPS Wealth before deciding to become authorised by them,” she said.
“I’d looked at several other dealer groups but they were either focused on large accounting firms or represented low value for money. I was incredibly impressed by GPS Wealth’s culture and level of professionalism.”
Financial adviser, Danielle Ryley, principal of dR & Associates, followed Romano to GPS Wealth.
“My relationship with Iolanda and her team has been strengthened as a result, and the practice management and client engagement tools provided are outstanding,” she said.
“Iolanda and I both have ambitious plans to grow our respective businesses, and GPS Wealth is committed to helping us achieve our goals.”
While SMSF advice only constitutes a very small part of Romano’s business, and financial advice is referred to dR & Associates, Romano said being licensed positioned the business strongly for future growth and allowed it to better meet clients’ changing needs.
According to Greg Holman, director of GPS Wealth, over 180 practitioners have attended GPS Wealth’s professional development courses since July with 125 applying for a limited authority and 35 licensed to date.
More are expected to become licensed by GPS Wealth ahead of July 1.
“We’re exceptionally pleased that Iolanda and Danielle have joined us because they are both highly qualified, highly experienced and forward thinking,” he said.
