AMD Chartered Accountants and Integro Private Wealth have announced a partnership aimed at providing financial advice on a local level, facilitating the generational wealth transfer and meeting the demands for improved access in the area.
According to the director of AMD, Shane Kaurin, the move comes in response to the rising demand for access to advice locally.
“A key strength of this partnership is that it allows clients to access advice from a trusted adviser who is working within the community. Clients are continually telling us that they want someone locally who they know and trust to be advising on their wealth,” he said.
Kaurin noted that clients’ anxiety regarding regulatory changes also drove the need to expand advice in the region.
“We have seen a significant increase in demand for financial advice from amongst our clients, particularly young people and those concerned by the impacts of government policy changes like tax concessions on super balances over $3 million,” he said.
Managing partner of Integro, Justin Gilmour, said the move will fill the gap in the regional market and expand the offerings available to AMD’s existing clients.
“Through this partnership, AMD’s client base of over 3,000 people will have better access to advice in their local area, allowing them to seek a more diverse range of global investment opportunities, which are difficult to obtain through a local private practice,” he said.
As the Australian population ages, access to advice becomes increasingly important to facilitate a smooth generational transition of wealth, according to Gilmour.
“Regional families are on the cusp of the biggest wealth transfer we have ever seen with many family businesses, farms and mining sites consolidating and being sold off on the back of these high land values and market strengths,” he said.
The partnership will see Magda Betlem, director at Walker Wayland AMD, become an authorised adviser of Integro, acting as a bridge between the advice and accounting businesses.
Betlem is a Certified Practising Accountant (CPA) specialising in SMSFs. She holds a bachelor of accounting from CEUMA in Brazil, a bachelor of business from Edith Cowan University and is a graduate of the Australian Institute of Company Directors.
Sharing his support, Kaurin said Betlem’s dual role would help improve access to a broader range of financial service offerings in the region.
“With Magda now working across both firms, she will act as a conduit and continue servicing our existing clients from an advice perspective, whilst enhancing our offering through accessing a broader range of services like family office solutions and estate planning,” Kaurin added.
The partnership is set to commence in March 2024, with a specific date yet to be confirmed.
