Chris Balalovski has joined as partner in BDO’s Sydney office, after two and a half years at EY. He is also currently chairperson of the Self-managed Independent Superannuation Funds of Australia.
The new hire signals BDO’s intentions to boost its presence in the high net worth (HNW) and superannuation advice market, a spokesperson for the mid-tier told Accountants Daily.
The complexity of the tax system for wealthier clients with substantial superannuation balances has partly informed the move. In particular, the intricacy of SMSFs is creating a need for specialist advice channels.
“More and more we are seeing HNWI and businesses needing advice to help them with multi-jurisdiction asset protection and taxation management,” said Andres Reith, BDO's partner in charge for business services in Sydney.
“Chris will work directly with this market and use his expert skills to develop strategies for clients with complex legal, tax and commercial needs.”
Areas of focus for Mr Balalovski include GST, fringe benefits tax, stamp duty, land tax, superannuation and SMSFs. Estate planning and asset protection will also be in the mix.