Financial services firm Morrows has announced a strategic merger with MSI Ragg Weir, an accounting, wealth management, auditing and superannuation firm in Melbourne, to create a mid-tier firm, effective today.
Morrows currently has 600 SMSF clients and will absorb another 400 clients into the division as part of the merger, a spokesperson told selfmanagedsuper. The firm also conducts SMSF audits for other accounting firms.
Six MSI Ragg Weir partners will become principals of Morrows, and all MSI Ragg Weir employees will be offered roles with the merged company.
The merger will provide Morrows with an experienced auditing division through the addition of MSI Ragg Weir’s suite of services.
MSI Ragg Weir will be able to access a strengthened 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,” Morrows chairman and director Murray Wyatt said.
“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.”
MSI Ragg Weir managing partner Ian Jenkins said: “Many accounting firms are learning the benefits of sharing resources, geographies and complementary skills.”
