Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Accountants still look to planning for growth

accounting-firms/financial-planning/commonwealth-bank/

7 June 2016
| By Mike |
image
image image
expand image

Accounting firms pursuing diversified revenue growth are still looking towards wealth management and financial planning, according to the latest accounting industry data released by the Commonwealth Bank.

The bank's Accounting Market Pulse publication has pointed to the areas being pursued by accounting firms as they look for growth, nominating management consulting services as a preferred area of expansion for many large and mid-sized accounting firms, as well as restructuring firms.

Writing in the bank document, the Commonwealth Bank's national manager, professional services, Marc Totaro, said he believed the latter two groups also saw increased opportunities in business advisory and property advisory services.

"Other firms plan on entering wealth management and financial planning," he said.

"More immediately, the greatest short-term growth in revenue is expected to come from economic and social policy advice, tax consulting and wealth management, and financial planning."

The Commonwealth Bank research suggested that the push into wealth management and financial planning was something being pursued by smaller scale accounting firms.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks 3 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month ago

So we are now underwriting criminal scams?...

7 months ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 5 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week 4 days ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

2 days 11 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND