WA accounting firm launches online investing

Oksana Patron

14 June 2023

Pascoe Partners, Western Australia-based accounting firm, has announced the launch of its new online investing solution in response to a falling need for traditional personal advice experience among the adult children of its self-managed super funds (SMSFs) clients.

The firm decided to take advantage of the fact that the new generation of its clients were very engaged in their finances and actively looking for professional investing assistance, however not ready to pay the initial upfront cost of personal advice.

Pascoe Partners Invest director, Andras Hernadi, said that with $3.5 trillion of wealth passing through the generations over the next two decades, progressive wealth management and advice firms were taking action now to reach and help the children of their clients.

The Pascoe Partners Invest solution, which is being delivered in collaboration with Melbourne-based investment platform, OpenInvest, will offer access to four diversified investment portfolios, covering risk/return portfolios as well as an ethical portfolio, with all four portfolios requiring a minimum of only $5,000 to get started.

Hernadi said that the new solution would meet the needs of the broader client base of the accounting firm who wanted professional portfolio assistance, whilst no longer needing or being ready for the full personal advice service.

“As a well-established firm with offices in Perth and the wheatbelt region of WA, we have helped a very large number of clients establish their SMSF as a means to achieve long-term wealth creation and the best possible retirement.

“Not every SMSF client wants or needs our traditional personal advice experience, and yet they all appreciate the value of professional management of their SMSF’s assets.

“Now with Pascoe Partners Invest, we can offer a choice of solutions to all of the firm’s clients, and not have to turn away any prospective clients,” Hernadi said.