Crowe-Maxwell, an accountant by training, was previously a corporate recovery partner at BDO, Omniwealth said in a statement yesterday.

“The synergies between an accounting practice and a financial planning practice all working together offers the right mix to assist businesses as they grow and mature. Owners need advice around the best strategy and structure for the business to weather the current business climate and succeed,” Crowe-Maxwell said. 

“While estate planning has become a growth area for financial planners, succession planning has been overlooked or misunderstood by a lot of professionals advising SMEs. The progressive retirement of baby boomers has brought the question of succession to centre stage for many companies and their family owner members,” he added.

Established in 2003, the firm advises a range of clients, not just high net worth individuals; it also works with companies, self-managed superannuation and corporate superannuation funds. It manages more than A$300 million ($216 million) in client assets.