Melbourne-based financial planning practice Australian Wealth Solutions (AWS) has just moved to larger and more modern premises, which is the first step in its strategy to address the future needs of clients and alliance partners.
Speaking to Accountants Daily, AWS founder and principal, Sam Zervides, said that the convergence of the advice space is “already happening”.
“It is impossible for professional service organisations to be all things to all people. Therefore, service providers will need to specialise in their respective areas of expertise and utilise local networks and alliances with trusted specialists that have the welfare of the client as the central priority,” Mr Zervides said.
“If there is little to no relationship between the financial planner and accountant the client may be provided with inappropriate advice or perhaps even potentially conflicting advice. So it’s crucial for the financial planner and accountant to be on the same page when it comes to the financial wellbeing of clients.”
Mr Zervides said that said that mutually beneficial relationships and alliances with accountants and other professions have been, and will continue to be a priority for AWS.
“AWS has multiple accountants on our panel and will refer to the accountant that best suits the client’s needs. Together with the accountant we take a more strategic approach. We work together to provide the client tailored and ongoing strategic advice that best suits their needs, hence the importance of our panel of accountants,” he said.
“We plan to not only work in conjunction with accountants but to also sit on multiple financial planning/accounting boards to provide a synthesis of financial planning and accounting advice. A dynamic relationship between the financial planner and accountant is a huge benefit to the client.”
Are you thinking of expanding your offering into SMSFs to grow your client base? Become a pro at SMSF fundamentals and make your clients bulletproof with the SMSF Foundations course. Learn directly from Aaron Dunn from Smarter SMSF as he deep-dives into the fundamentals you need to know to successfully undertake your work as an SMSF practitioner. Earn up to 21 CPD hours! Learn more
TRENDING
