GPS Wealth picks up two practices

Non-aligned financial planning and accounting group GPS Wealth has added two firms to its group, with one coming across from AIW Dealer Services.

In a statement, GPS Wealth announced that the Brisbane accounting firm, Romano Business Accountants, and financial planning practice, DR & Associates, have joined the licensee.

Romano took out a limited authority licence with GPS Wealth while DR & Associates became a full corporate authorised representative. DR & Associates had been licensed by Astute-owned AIW Dealer Services since 2013, ASIC's register shows.

Iolanda Romano, principal of Romano Business Accountants, said the imminent introduction of the new regulatory framework for accountants drove her practice to seek a "flexible, reasonably-priced" licensing solution.

"Under the new rules, I needed to complete additional training which I did through GPS Wealth before deciding to become authorised by them," she said.

"I'd looked at several other dealer groups but they were either focused on large accounting firms or represented low value for money. I was incredibly impressed by GPS Wealth's culture and level of professionalism."

Meanwhile, DR & Associates principal Danielle Ryley said she followed Romano to GPS Wealth since the two have a referral partnership.

"My relationship with Iolanda and her team has been strengthened as a result, and the practice management and client engagement tools provided are outstanding," she said.

"Iolanda and I both have ambitious plans to grow our respective businesses, and GPS Wealth is committed to helping us achieve our goals."

GPS Wealth director Greg Holman added that more than 180 practitioners have attended the group's professional development courses since July, with 125 applying for a limited authority and 35 licensed to date.

More are expected to become licensed by GPS Wealth by July 1, he said.

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