OmniWealth branches into accounting and legal
Financial planning group OmniWealth is adding accounting and legal services, hoping to attract more planners to the firm.
OmniWealth managing director Matthew Kidd pointed to the current round of proposed legislative changes as a factor in the decision. He said the company goal was to provide clients with a single optimum solution and to support its advisers.
The arrangement would enable the group to provide clients with consolidated accounting services, as well as a spectrum of financial advice concerning mortgage, property investment and legal solutions, the group stated.
OmniWealth said the overall operation will now encompass dealer services, financial planning, mortgage and finance, accounting and audit, legal and property investment.
Recommended for you
A Victorian accounting firm – in which Count holds a 40 per cent equity stake – has announced the acquisition of an accounting client book through a $1.4 million transaction.
Australian Ethical has reported its net profit after tax (NPAT) fell 15% to $9.6 million for the year ended 30 June, while its underlying profit after tax (UPAT) declined 7% compared with the year prior, to $10.3 million.
Insignia Financial has announced a 59% increase in its underlying net profit after tax (UNPAT) to $234.5 million in FY22.
Having completed their educational qualifications, those advisers who remain in the industry are reporting being “run off their feet” with new clients.