Accounting firm forays into SMSF
Accounting and planning firm Chan and Naylor has launched a national self-managed super fund (SMSF) administration business unit.
Managing director Ken Raiss said it comes as the firm responds to changing marketing conditions.
"Contributing factors include ongoing industry consolidation, an unstoppable growth in SMSF and Australia's continued passion for property investment."
The unit will work with the firm's financial and wealth advisory business, with a focus on compliance, education and strategy within SMSF.
In 2012, director of financial planning David Hasib called for a clampdown on "rogue self-managed superannuation fund advisers" popping up from the surge of SMSF start-ups.
He said while SMSF trustees were under surveillance, the wider industry was being ignored, "including those developing the products and many under-qualified advisers, or even the growing number of promoters with no qualifications".
Chan and Naylor is also starting up a national mortgage broking service in NSW and Victoria, before spreading further, and will focus on strategic financial strategies.
It is also looking at new joint venture partnerships and "tuck-in" opportunities, where smaller independent firms will be swallowed up by the firm's businesses around the country.
The firm entered into its third JV partnership last year in South Australia with Appleyard and Associates, which provides services in compliance, small businesses, trusts and SMSFs.
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