Adelaide-based sector specialist service provider ASF Audits has broadened its market presence as a result of acquiring the SMSF audit book of financial services firm Partners Wealth Group (PWG), located in Melbourne.
The development forms part of ASF Audits’ expansion goal of consolidating Australian small-to-medium audit practices.
ASF Audits chief executive Casey McGrath suggested the deal indicated the rising demand for specialist services in an environment where industry expectations and regulatory complexity continue to intensify.
“SMSF auditing is a highly specialised field and for more than 30 years ASF Audits has focused solely on delivering high-quality, independent SMSF audits. This acquisition represents another important step in our growth journey as we partner with more firms who see the value in a dedicated SMSF audit specialist,” McGrath noted.
“We are delighted to welcome our new clients and look forward to providing a seamless transition and the same trusted service they are accustomed to.”
PWG managing director Mathew Cassidy said the organisation to which it sold its SMSF book was selected purposefully.
“When making the decision to transition our SMSF audit practice, our clients were paramount,” Cassidy explained.
“We selected ASF as a trusted market leader and independent SMSF audit specialist, providing confidence that continuity of service for our clients would be preserved.
“This new strategic relationship will significantly enhance the technical capability available to our clients and accounting partners, combining PWG’s strong adviser network with ASF’s scale and deep specialist SMSF expertise.”
ASF Audits currently services over 56,000 SMSFs and has the financial backing of Fortitude Investment Partners, which made a strategic investment in the firm last year.
According to McGrath, Partners Wealth Group clients can expect the same high standard of audit quality they have always received, backed by the scale, technology and specialist focus ASF Audits possesses.
““We look forward to supporting trustees and fund administrators through a smooth transition and a long-term commitment to audit excellence, while continuing to work closely with PWG to further strengthen the technical capability available across its accounting network,” he noted.
Darin Tyson-Chan
Editor
Darin is the founder and publisher of Benchmark Media, an independent publishing house whose mastheads include financialobserver, selfmanagedsuper and smstrusteenews. He has been covering the financial services space for over a decade and in this time he has worked for a variety of trade publications. Darin has also written for the Money section published in The Sydney Morning Herald and The Age.
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