Australia’s largest provider of integrated wealth and accounting services appoints Co-CEOs to execute its expansion strategy

Findex Group Limited (“Findex”), Australasia’s largest diversified financial services company has announced a significant expansion of its senior executive team, as it moves to take advantage of the major opportunities emerging from Australia’s wealth management sector after the Hayne Royal Commission.

Over the next five years Findex is aiming to triple the size of its wealth practice, growing from $17 billion in FUA to upwards of $50 billion as it takes advantage of the significant changes in the wealth management landscape.

Findex Co-Founder, Spiro Paule has appointed Co-CEOs in company veterans Chief Operations Officer, Tony Roussos, and Chief Financial Officer, Matt Games, in a move to bolster the leadership team to capture this opportunity. Mr. Paule’s decision is the realisation of a succession plan that will allow him to focus on the role of Managing Director where he will continue to lead the overall strategic direction as well as overseeing the group’s ambitious expansion plans.

“The Hayne Royal Commission has had a seismic impact on Australia’s Wealth Management sector,” Mr. Paule said.

“With ASIC citing that over 3000 advisers have already left the wealth space and the major banks divesting their interests, the opportunity is ripe for Findex to lead the charge in a new way of managing wealth, focussing on customer value and transparency combined with best practice accounting services.”

Mr. Paule, who co-founded Findex more than 30 years ago with his brother Terry, said that Findex’s wealth accounting model, which provides clients with access to a broad range of advisory, financial planning, accounting and audit services via their accountant, along with deep connections into a broad cross-section of businesses and individuals, makes it competitively placed to aggressively grow its market share.

“As the largest provider of integrated Wealth and Accounting services in Australia, Findex is uniquely positioned to deliver on the vision my brother Terry and I started this business with – to bring the two major hubs of a client relationship, the accountant and financial planner, together to increase value and create better outcomes for clients.” says Findex Managing Director, Spiro Paule.

“With the growth momentum we have behind us, our investment in leadership capability at this time will help the business capitalise on the strategic growth opportunities available whilst  allowing me to step back from day to day operations. I will continue to work closely with our longstanding Board and executive team to drive the strategic direction of the business.” 

The new Co-CEOs will act as joint custodians for Findex’s new chapter. With a collective 45 years’ experience with the brand, they combine deep business knowledge with complementary skills that enhance the leadership team and will allow it to capitalise on its growth momentum.

Mr. Roussos and Mr. Games have been pivotal to Findex’s transformational M&A strategy, overseeing 63 acquisitions with key operational input during their working partnership, including global accounting firm Crowe Australasia and wealth management leader Centric Wealth. This has resulted in the business growing from a team of 50 people to nearly 3,000 across 100 locations since 2008. 

Findex Co-CEO, Tony Roussos, says, “As one of Findex’s first employees, it is a privilege to be given the opportunity to be custodian for the business as we look to activate our next stage of growth. Findex was started by two visionary founders, who saw an opportunity to bring together wealth and accounting services to deliver greater value for clients. Now, as Australia’s largest diversified financial services business, we’re continuing to tread our own path, building a model built around the needs of our clients.”

Findex Co-CEO, Matt Games adds, “When I left Macquarie Bank to join Findex as CFO 15 years ago, I was attracted to its entrepreneurial vision combined with the strong family values instilled by founders, Spiro and Terry Paule. As an executive team, we’ve always worked together under the strategic guidance of Spiro to leverage our complementary skills and I’m looking forward to continuing my strong partnership with Tony to drive the business on its next stage of growth.”

This leadership model will  bring to life Findex’s vision of an integrated wealth and accounting offering by taking advantage of the restructure of the wealth management sector where Findex’s longstanding fee-for-service model and salaried adviser status give it significant competitive advantage and uniquely positions it to deliver a Wealth Accounting model to its SME client base.

Findex has always been guided by human connection, growth and innovation. When brothers Spiro and Terry Paule founded the company in 1987, they formed key values that the company has retained through its dynamic cycle of mergers and acquisitions. Today the firm stands at nearly 3,000 staff and 250,000 clients.

The appointments of the new leadership arrangements came into effect on Monday 22 August 2022.