Self-described ‘one-stop-shop’ Chan & Naylor has persuaded former Yellow Brick Road accounting practice Mack Partners to enter into a joint venture.
Mack Partners is located in Bankstown, Sydney and will be rebranded as ‘CN Bankstown’.
Chan & Naylor group chief executive John Harriott said his firm aims to provide a “holistic one-stop accounting and wealth advisory service” to meet the increasing demand from people who “both live and work” in key suburbs like Bankstown.
Recent industry consolidation and “the emergence of several large sovereign players” is a problem for independent accounting firms and their clients, said Mr Harriott.
The announcement of the Mack Partners joint venture is part of an ongoing “significant expansion strategy” that has seen Chan & Naylor announce six regional joint venture partnerships in recent weeks – two in Victoria and four in South Australia.
Mack Partners principal Peter Ristevski said he was attracted to the national brand of Chan & Naylor.
“Having a national hub with the breadth of small business accounting and advisory services on offer from Chan & Naylor in the suburbs is a unique proposition,” he said.
“CN Bankstown is well positioned to become an important advisory resource in the backyards of these small businesses,” said Mr Ristevski.
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