GPS Wealth grows regional network

Non-aligned dealer group GPS Wealth has increased its regional footprint, the firm said, with the addition of 60 new practices to its network.

The new additions include a number of firms throughout regional and country NSW, as well as further afield, such as far north Queensland’s McKinnon and Co.

Among the NSW businesses is Collins Hume, based in Ballina and Byron Bay.

Collins Hume partner Shane Bartrim said the decision to join GPS Wealth’s network came in preparation for recent SMSF licensing changes.

“A quarter of our business clients have an SMSF so we needed a licensing solution ahead of the removal of the accountants’ exemption, which is why we started talking to several dealer groups about a year ago,” Mr Bartrim said.

Many practitioners have joined GPS Wealth for similar reasons, according to GPS co-founder Greg Holman.

A considerable number of those needing authorisation have never been licensed, Mr Holman said, with many finding the process “daunting”.

“Only a handful of accountants who have approached GPS Wealth in the last year have previously been authorised before, so the overwhelming majority needed considerable support. Our job has been to walk them through the process,” he said.

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