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Marking the new financial year, two accounting firms have confirmed they are merging to consolidate their position in the Melbourne market.
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East coast accounting firms announce merger
03 July 2018
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MSI Ragg Weir, a Victoria-based accounting firm part of the MSI global alliance, has announced a merger with financial services firm, Morrows.
All six MSI Ragg Weir partners will become principals of Morrows, will all other employees offered roles with the merged company.
MSI Ragg Weir managing partner, Ian Jenkins, who has been at the firm since 1976, said the merger comes at a time when more accounting firms understand the potential impact and importance of joining together for future growth and enhanced service to customers.
“Many accounting firms are learning of the benefits of sharing resources, geographies, and complementary skills,” said Mr Jenkins.
“Morrows’ valued advice approach and attention to excellent client service mirrors our own.
“We can now offer a wider array of services to clients, especially to those outside of our traditional service lines.”
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Founded in 1960, Morrows will gain an auditing division through the merger, while MSI Ragg Weir will now have access to Morrow’s financial planning division and legal division.
“This merger will strategically transform the current operations of Morrows, giving both MSI Ragg Weir and Morrows a strengthened position as an ‘advice house’ in the market,” said Murray Wyatt, Chairman and Director of Morrows.
“Additionally, both companies are looking to provide greater opportunities to employees, an enhanced client experience and to allow our respective communities to flourish together.”
“In addition to our strong brand presence in Victoria, we want to create a partnership that would continue to build on our practice while still being aligned to our culture and direction,” he added.
“The team at MSI Ragg Weir has a highly regarded reputation and a business emphasis that is very compatible with our own. We are looking forward to shared success as one team.”
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