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Wealth group sees surge in accountant enquiries

A wealth management company that offers integrated solutions for finance professionals has seen an increase in interest from accountants.

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News James Mitchell 29 October 2014
— 1 minute read

Wealth Today offers three different models to mortgage brokers and accountants looking to provide financial advice for their clients.

Speaking to AccountantsDaily, Wealth Today head of new business and member resources Julian Musgrave said the popularity of SMSFs had led to increased interest from accountants in recent months.

“There has been a definite pick-up in interest, particularly around SMSFs, which are an interest point for an accountant,” Mr Musgrave said.

“We were initially focusing solely on mortgage brokers, but in the last couple of months we have been starting to move into the accounting profession,” he said.

“We now have a number of accountants up and running.”

Wealth Today provides accounts with either a referral network, training to become a financial planner themselves, or joint venture opportunities.

“We run a fairly intensive system where we actually step in beside a brand new planner and help them give top quality advice from day one,” Mr Musgrave said.

“We build the plans in-house. We have a fairly robust framework of advice. It’s not a cookie cutter, but it allows a solid framework so bits don’t get missed,” he said.

“We have a mentor and a coach that sits in beside the new planners.”

The other option is for accountants to build a joint venture relationship with Wealth Today.

“So essentially we go into business with the accountant, we bring an experienced planner into their world using our framework of advice and we manage the entire financial planning business for them,” Mr Musgrave said.

“The accountant has a 100 per cent call on those clients, so at any point in time they can buy our side of the client’s office and take the planning business elsewhere, so they never lose control of their clients,” he said.

“But they won’t need to worry about running a financial planning business when they are busy as accountants.”

With joint ventures, the accountant receives a 60 per cent profit share and full ownership of their clients.

Wealth group sees surge in accountant enquiries
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