The Findex Group, one of Australia’s largest independent financial services and accounting groups, today announced the acquisition of Martin Goodrich & Associates (MGA) and Goodrich Financial Services, a leading private client accounting and wealth advisory firm operating in Melbourne for over 25 years.
The Goodrich practices will move to the Crowe Horwath Melbourne offices but maintain their branding and positioning during a transition phase.
Findex CEO Spiro Paule said the Goodrich client offering was aligned with the Findex philosophy both in terms of the breadth of offering and rigid adherence to a non-aligned advisory model.
“Both entities are committed to a holistic financial services offering in the mode of a one-stop-shop for financial services and related advice, also known as a Family Office approach.
“MGA have been one of the pioneers in offering a complete Family Office service to mainstream clients, rather than just the very wealthy, focusing on SMEs, private clients and family-owned businesses”.
“The approach of goals-based advice and holistic implementation around the entirety of a client’s financial affairs is one Findex is pursuing across our Australasian network through Crowe Horwath, Centric Wealth and our other brands.”
“MGA principal partner, Martin Goodrich, who will continue to oversee the delivery of high-quality financial solutions to clients, has been a leader in this field and his experience will inform and assist us as we roll out our Family Office offering.”
“Like Findex, Goodrich practices are also committed to a non-aligned, fee for service advisory model. Clients are only recommended best of breed products. Neither group manufactures financial products and neither group seeks to pursue a vertically integrated model like the big banks, AMP and others.”
“The model we are delivering is the future of the industry, as has been made clear by report after report, including David Murray’s Financial Systems Inquiry.”
“In today’s globalised world, fulfilling the expanding needs and expectations of clients requires extended resources delivered under increasingly complex business conditions brought on by the technological revolution and government regulations,” he said.
Martin Goodrich, Director, Martin Goodrich & Associates and Goodrich Financial Services, added that in a rapidly changing economic and business environment, it has become increasingly important that wealth advisory firms continue to innovate and offer a greater array of services to their clients that guide them through the myriad of complex issues.
“To do this sustainably, it became apparent the best solution was to partner with a like-minded organisation such as Findex that offers complementary skills with a focus on wealth accounting and family office advisory – a practice initiative that we introduced at the inception of our practice over twenty-five years ago”.
“Both our firms share a vision of providing a ‘one-stop’ solution to our clients’ financial needs and bring specialist taxation and business advice to our existing services of financial planning, superannuation, investment, lending and insurance to our clients,” said Goodrich.
“Our clients will now have in-house access to a full range of specialist accounting professionals in addition to core accounting services and wealth management competencies. This also means the availability of an extended range of services including self-managed superannuation administration, life insurance, loan origination, general insurance, corporate benefits and family office advisory and estate planning for all our clients,” he said.
“Both Findex and Crowe Horwath provide a high service culture supported by state of the art systems. Findex is one of the most highly recognised independent wealth management practices in Australia, with the resources to support and improve our practice model, while Crowe Horwath accountants provide quality services to their clients throughout their network of practices within Australasia, and through the global network of international affiliates,” said Goodrich.
