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A mid-tier accounting firm has announced the acquisition of a specialist advisory firm to expand its own service capabilities.
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Mid-tier firm expands capability through acquisition
07 September 2015
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Bentleys Perth has acquired Australian Superannuation & Compliance (ASC), adding 250 self-managed super funds and over $1 million in fees to its existing portfolio.
Philip Rix, managing director, Bentleys Perth noted that the acquisition gives the Perth office the chance to expand capabilities and embed itself further within the superannuation and SMSF space.
“With the recent growth in demand for self-managed super funds, we identified an opportunity to grow our offering in this space,” Mr Rix said, also pointing to the accountants' exemption ending on 30 June 2016.
“Fortunately, we already have the capabilities to continue servicing all SMSF clients beyond July 1 next year so this addition to our firm complements our current offering," he said.
"For us, this is a great opportunity to expand the existing business line."
The influence of technology was also a key reason for the acquisition, Mr Rix added.
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“Technology is also now driving a lot of change and ASC has excellent capabilities in this area, offering real-time reporting for SMSF clients.
"The acquisition paves the way for a specialist offering to our clients, financial planning groups, or other accounting firms who do not have the expertise or cost structures to efficiently manage this highly complex and specialised area of work,” he stated.
Bradley Raw, manager for superannuation services, will take charge of the expanded division, which will continue to trade under the name Australian Superannuation and Compliance Pty Ltd.
“It’s an exciting time for us. ASC’s established practices will be a huge value add for Bentleys and our clients across both businesses,” Mr Raw concluded.
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