Queensland based firm, Divest Merge Acquire (DMA), joined Walker Wayland as a boutique member firm late last week, after several months of talks.
A boutique membership effectively formalises a referral relationship for a firm within the Walker Wayland network.
DMA is a departure from the core accounting firms traditionally attracted to the network, which Walker Wayland chair Paul Hilton said is partly motivated by changes in the mergers and acquisitions market.
“With the ageing population, firms and clients need to be looking at succession. From the day you buy a business, you should be thinking about our exit,” Mr Hilton told Accountants Daily.
“The way businesses are bought and sold, and buyers for businesses, are very different to what they were even five years ago,” he added.
Mr Hilton is an active advocate for accounting firms either providing diverse service lines or having referral relationships with firms that provide services outside of core accounting functions. In turn, the most recent additions to the network have distinct advisory service lines.
In October last year, Walker Wayland added accounting and advisory firm Rose Partners to its network, which focuses on providing services to the healthcare industry.
Prior to that, in September last year, accounting and business advisory firm Lincolns joined the network as a member firm.