The DKN Group has expanded its presence and endorsed the pursuit of a holistic financial services model as a result of subsidiary UPA Group having acquired leading Gold Coast-based accounting firm BGP.
DKN took a 30 per cent stake in UPA in August at the same time UPA was announcing its intentions to substantially increase the scale of the group through a program of strategic acquisitions.
UPA represents an important element of the DKN strategy because it operates under an integration model that brings accountants, solicitors, business brokers and financial planners together in one business, which it describes as providing a “truly holistic service to its clients”.
A spokesperson for DKN said the company saw the potential for the model to fill a significant space in the Australian financial services landscape.
UPA executive director Suzanne Webley said the company had significant business acquisition plans, but also major plans to shake-up the culture of the financial services advisory business.
“In the current highly-competitive employment environment for young financial services professionals, you need a modern management approach to ensure your team is fully engaged and providing the high-quality advice that your clients expect,” she said.
Webley said that old style dictatorial models of rigid discipline and intimidating management systems were still commonplace within the accounting industry in particular, but they just did not work for young professionals.
She said that one the UPA model’s strongest points of difference was its administration team and the support it offered in circumstances where both human and IT solutions were needed for businesses to develop to meet the needs of clients.
“The systems are user friendly but take the guess work out of the modern professional practice, thereby enabling real-time snapshots of how the business is travelling towards meeting its key performance indicators,” Webley said.
