Spiro Paule, CEO of Crowe Horwath parent company Findex Group has revealed that the acquisition of Crowe Horwath was a deliberate strategy to increase the Group’s presence in the accounting space.
“Accountants, by and large, are still the owner of that client relationship in terms of who they turn to for information,” he said, adding accountants were the main point of call before life and general insurance brokers, or planners, who had faced much recent scrutiny.
Given that the client/accountant relationship is more dominant than that of the financial adviser, Mr Paule has attributed the trust within this relationship to being one of the main reasons Findex pursued a greater chunk of the accountancy profession.
“We’re really concentrating on streamlining the Crowe Horwath business right now,” he said, adding it was a large operation in terms of scale, although not too dissimilar in terms of the regular issues and challenges one would expect from an acquisition.
“We’re doing a lot of work around existing IT infrastructure and we’re standardising software applications while rolling out our own systems,” he said.
“It’s quite a logistical exercise but we’re really looking to ensure everyone is trained and competent, and then we can start bringing in all the adjacent services to round out the offering.”
Read the full article published in the Financial Observer.