nterPrac Financial Planning’s (InterPrac) MD Mr Garry Crole has confirmed the dealer group is enjoying a strong growth year and will end 2016 with over 200 accountant trained advisers across the national licensee’s Australia-wide network.
Currently InterPrac has 180 accountant advisers with a further 6 undergoing induction or in the final stages of completing various administrative formalities.
Although 2016 will be a milestone for InterPrac, Garry Crole stressed that adviser growth for numbers sake has never been the goal of the dealer group. Since inception, growth has been steady and carefully managed to ensure that all entrants are a business and cultural fit within an accountant adviser-led group dedicated to working in harmony with fellow, like- minded professionals.
Commenting further on InterPrac’s success, Garry Crole said the accounting industry has been experiencing a shift in traditional revenue streams, growing cost pressures, impact of technology and rapidly changing client expectations all requiring accountant practitioners to position their businesses in the new era.
“Together with the removal of the accountant exemption on July 1, this has been the catalyst for accountants seeking a more comprehensive client service model and we (InterPrac) have been the beneficiaries as they seek to implement multi-disciplined accounting, business services, financial planning and SMSF advice”, said Garry Crole.
“However, we have continued to maintain our high standards and not proceeded with enquiries that would not be a cultural fit within InterPrac’s accountant adviser network”.
One aspect of InterPrac’s comprehensive marketplace offering that is particularly well regarded is the licensee’s compliance and governance infrastructure which is overseen by National Compliance Manager Mr Michael Butler.
Michael Butler is not your ordinary financial services compliance professional with a 35 year career that has encompassed Professional Standards Manager for the FPA, Head of Compliance for AFS Ltd and Manager Fraud Operations at Westpac. He has brought to InterPrac a depth of experience dedicated to the highest industry standards of compliance, governance and a focus on adviser education and guidance.
“InterPrac’s compliance processes and procedures can best be described as a practical preventative mechanism designed to assist and safeguard all advisers in their provision of financial planning advice and client services”, said Michael Butler.
“They have been integrated seamlessly into all aspects of the organisation infrastructure and reflect our commitment putting the needs and well-being of consumers as the paramount objective”.
“Having a robust yet adviser / client focussed compliant operational model in place and effective frees up management time that is then devoted to marketing and growing the business”.
Michael Butler continued, “Far from being a business negative it is a major column of strength that acts to both reassure existing advisers and alliance partners as well as attract new recruits to our ranks”.
InterPrac National Practice Manager Mr Michael Gershkov can attest to the strength of InterPrac’s marketplace offer and in particular the licensee’s compliance reputation that is a major drawcard assisting him greatly in his recruiting endeavours.
“We are proud of InterPrac’s reputation as a leading independent service and adviser focussed dealer group with a lean management structure comprised of industry professionals with real ‘hands on’ experience and expertise that advisers can relate to and appreciate”, said Michael Gershkov.
“This is reinforced by our decade long endorsement by the National Tax & Accountants’ Association (NTAA) and awards such Stephen Prendeville’s Forte Asset Solutions sanctioned survey with respondents voting InterPrac as the number one dealer group for adviser satisfaction”.
Looking to the future, the next few years will be really interesting for the sector in terms of the role of the accountant as they reinvent themselves and the value and services they provide to clients.
Garry Crole says that proactive accountants are looking to position their firms for future requirements by focusing on multi advice models that includes the provision of financial planning services and SMSF advice.
The NTAA is widely regarded as the most proactive association for the accounting industry, and their endorsement of the InterPrac dealer group to its 10,000 strong member base is a testament to InterPrac’s dedication to remaining an Australian Financial Services Licence (AFSL) with a heavy focus on partnering with the accounting industry.
