Morrows merges with accountancy firm
Financial services firm Morrows has announced a strategic merger with MSI Ragg Weir, an accounting, wealth management, auditing and superannuation firm, as more accountancy firms see the benefit of offering advice capabilities.
The companies hoped that the merger would see the combined business offer a strengthened range of advice services.
“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,” chair and director of Morrows, Murray Wyatt, said.
“Additionally, both companies are looking to provide greater opportunities to employees, an enhanced client experience and to allow our respective communities to flourish together.”
Morrows also welcomed the international reputation MSI Ragg Weir had, saying that it would allow the firm to more effectively provide clients with advice or contacts with like-minded advisers internationally.
The two firms said that the merger reflected that more accounting firms were understanding the potential importance of joining with advice firms to future growth.
“Many accounting firms are learning of the benefits of sharing resources, geographies, and complementary skills. Morrows and MSI Ragg Weir are both trusted names in their respective markets. They are now even better positioned for strategic growth,” MSI Ragg Weir managing partner, Ian Jenkins, said.
The merger would see six MSI Ragg Weir partners become principals of Morrows, with all employees of the accounting firm to be offered roles with the merged company.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.
