Prosperity Advisers Group, the 2015 Australian Accounting Awards Fast Growing Firm of the Year, has credited a diverse offering for its remarkable rate of growth as it revamps its expanding suite of offices.
Fast growth firm credits diverse offering for success
Speaking to AccountantsDaily regarding the launch of the revamped Brisbane office, Allan McKeown, CEO of Prosperity, noted that the diversified service offering of the firm has led to rapid growth and expansion. Clients these days expect their accountant to deliver more than just tax and compliance services, according to Mr McKeown.
“We conduct client advisory boards, and the constant message we get back is that clients want trusted advisers, but they want an adviser that will look after a greater array of their financial matters,” Mr McKeown said.
“It’s just more convenient if they can put their advice and their plans in the hands of the one trusted adviser."
Despite acknowledging that a diversified service offering has led to a period of rapid growth, Mr McKeown agreed that the industry is still hesitant to make the transition to a holistic advice model and fully explore the potential on offer.
“In terms of wealth management, I think the reticence stems from the perceived sales culture of the financial planning industry.
“In talking to my accounting colleagues outside the firm, I get that very strong message that they’re a little concerned about the sort of advice that their clients may or may not receive,” he said.
Mr McKeown noted that the approach of Prosperity Advisers Group is to ensure that wealth management advisers come from a technical background, and approach their advice on a technical basis, rather than built upon a product or sales base.
With the launch of a revamped Brisbane office, and a new Sydney office slated for a 10 March opening, Mr McKeown refused to rule out further expansion in the near future.
“There’s no rush, but we’ll certainly take the opportunity to look around,” he concluded.