A financial services veteran, Bolton has over 30 years of experience in the industry, including various executive roles in public and privately owned organisations across South Africa, the UK and Australia.

Bringing an international outlook to her new appointment at Findex, Bolton is charged with driving the strategic direction of the cross-functional financial team at Findex. Her key focus will be to champion growth in regional Australia during a transformational period for the industry and alongside the senior leadership bench, aiming to triple the size of the business’ wealth practice from AUD$17 billion FUA to upwards of AUD$50 billion.

Bolton’s appointment follows a senior leadership reshape late last year where Co-Founder Spiro Paule stepped down from his role as Chief Executive Officer (CEO) to take on the newly created role of Managing Director (MD) and company veterans then Chief Operating Officer (COO) Tony Roussos and CFO Matthew Games moved into a shared Co-CEO role.

Findex Co-Chief Executive Officer Mathew Games, says, “Lianne is a seasoned and strategic financial services executive who has navigated organisations through significant periods of growth with consistent positive results. She aligns with Findex’s short and long-term strategic plans and is a welcomed asset to help us drive these outcomes.

“Alongside the changes to the senior leadership team and Lianne coming onboard, Findex is primed and in the position to take the lion’s share of the wealth sector with our best-in-class advice model that puts clients’ interests front and centre.”

Prior to joining the Findex executive team, Lianne has worked for several large organisations operating in complex environments notably Investec Bank, Bank of Queensland, and most recently holding Chief Financial Officer positions at Maia Financial and Credabl.

Bolton has proven experience in mergers and acquisition, capital raising, securitisation, balance sheet management and risk management. She has additionally demonstrated consistent results driving growth in sales, improving P&L performance, capital planning and executing data-driven product and service development strategies.

“In my role at Findex, I want to challenge what people typically expect out of a Chief Financial Officer. I don’t want to be the finance person that just sits in her office looking over spreadsheets – it’s more than that. I hope to build relationships across the business and with our stakeholders, showcasing how my team and I can contribute with meaningful insights and provide crucial wider market context,” said Findex Chief Financial Officer Lianne Bolton.

“Mentorship is truly a passion of mine and is at the core of what I do. I would not be in the position I am in today without guidance from leaders who took the time to invest in my growth. I look forward to being a visible and empowering leader to my team and the business,” said Bolton.

Findex recently added 57 new Partners and Associate Partners in both metro and regional Australia and New Zealand to its ranks, laying the foundations for a stronger more united support system across the markets.

The post Findex appoints financial executive Lianne Bolton to the role of Chief Financial Officer appeared first on AdviserVoice.

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.

The post Australia’s largest provider of integrated wealth and accounting services appoints Co-CEOs to execute its expansion strategy appeared first on AdviserVoice.

Nell who is based in Sydney and has over 20 years in the Human Resources industry across markets including Australia and the United States, will provide strategic leadership of Findex’s Human Resources function which encompasses culture transformation, people solutions, diversity and inclusion, employee progression and retention.

Findex Chief Executive Officer, Spiro Paule, says, “We are committed to investing in our team and attracting the right talent to provide the highest level of service to our clients. Kath is a deeply experienced senior executive, and her skillset is well matched to our people agenda and attracting and retaining talented people.”

Prior to joining the Findex team, Kath worked for several large organisations operating in complex environments including BlueScope, Campbell Soup Company and NBN Co. Nell has a proven track record in organisational change and transformation where during her five-year tenure at NBN Co, she led the company’s culture, leadership and diversity uplift, translating data into actionable insights resulting in NBN Co’s workforce engagement and performance turnaround.

“It is currently a dynamic job market globally and as Australian employers we need to reframe how we engage with our existing talent and standout to the next generation. The Findex leadership team is very much cognizant of this and I am excited to hit the ground running with this talented team,” said Findex Chief People Officer Kath Nell.

“I pride myself in providing pragmatic solutions at all levels – the enterprise, executive leadership team, functional, and individual levels – catalysing organisational changes, that ultimately make a difference in the long run,” said Nell.

Nell will be joining the 2,700 strong staff that are currently employed by Findex across Australia and New Zealand, servicing a client base of over 250,000 clients and over $17bn funds under advice.

Findex recently added over 50 new Partners and Associate Partners in both metro and regional Australia and New Zealand to its ranks, laying the foundations for a stronger more united support system across the markets.

The post Findex appoints leading HR Executive, Kath Nell, as Chief People Officer   appeared first on AdviserVoice.

Spiro Paule

The Queensland arm of accountancy group Moore Stephens has reached an agreement to become part of Crowe Horwath, Australia’s fifth largest accountancy and financial advisory group, owned by M&A giant Findex.

Findex CEO Spiro Paule said: “Moore Stephens Queensland has an outstanding reputation and history of client service. We have had most constructive and detailed discussions with Moore Stephens partners over recent months and all parties are excited by the opportunities created by Moore Stephens Queensland joining the Crowe Horwath business.

“All Moore Stephens clients will continue to be serviced by their existing adviser who will now have even greater resources at their disposal, courtesy of the Findex network, to help meet the evolving client needs.

“Crowe Horwath already has the largest geographic footprint nationally in the accounting sector and the addition of the seven Moore Stephens offices will be valuable to our network.”

Managing Director of Moore Stephens Queensland said, “We were attracted to Findex because of their approach to holistic advisory, delivered by one trusted adviser through the Family Office model.

“There has been a lot of change in the accounting profession and we believe Findex’s focus on combining relationships and technology will enable us to meet the changing needs of our clients.”

Since 2000, Findex has successfully acquired and integrated more than 45 businesses, including the purchase and privatisation of the Crowe Horwath Australia and New Zealand businesses in early 2015.

Findex’s interest in acquiring boutique and mid-tier firms in rural and regional areas is part of an ambitious strategy to revolutionise the financial industry for mass affluent Australian market.

“There is no question that the accountancy and financial services industry is being disrupted. We see opportunity in disruption. Our adaptability and focus on technology and process means we are at the forefront of the evolution of our industry.

“The partners and staff at Moore Stephens share our commitment and vision to continually improve and refine the financial services offering for SME’s and the people within them.

The post Moore Stephens Queensland joins Findex backed Crowe Horwath appeared first on AdviserVoice.

Spiro Paule

Group transitioning to ‘comprehensive service’ model, or Family Office, across all businesses Findex, the largest privately owned financial services group in Australia and New Zealand has announced a major restructure to its operating model and an associated rebranding to signal this change.

The new branding initiative heralds the group’s formal adoption of a comprehensive service model that will see all businesses in the group offering a wide ranges of financial services including wealth advice, accounting and tax, and a range of related services, regardless of the traditional speciality of that individual business.

Businesses in the group that will now offer what Findex is terming a Family Office, or one-stop financial services shop, include Crowe Horwath accountants in Australia and New Zealand, Centric Wealth, Financial Index Wealth Accountants, Prescott Securities, CIVIC Financial Planning and the MOVO online investment advice portal.

The new branding formally introduces an ‘endorsed branding’ model for the group, which has made more than 45 acquisitions in the financial services sector since 2000.

“In essence, the Family Office model is a holistic advisory vehicle for financial services,” said Spiro Paule, Findex Chief Executive Officer.

“Traditionally a preserve of the wealthy, a Family Office service involves the availability of an extensive suite of financial advice and services from a single, trusted source.

“We believe all of our clients, individuals and corporates, regardless of their size, structure or means, should have access to the advantages of a Family Office – that is, having their financial servicing needs met from a single point of contact in their trusted financial adviser.

“The fact is, a rapidly globalising market means that fulfilling the expanding needs and expectations of clients naturally requires extended resources delivered under increasingly complex business conditions. As such, clients are seeking more and more specialised services under one roof.

“This innovative move will allow us the ability to offer our clients not only wealth protection advice and wealth building advice, but also services relating to risk, lending, accounting, tax, specialists SMSF solutions, estate planning, succession and even philanthropy.

“The client advantages include the peace of mind in accessing services from a familiar and trusted source, more competitive fees and prices through economies of scale and the convenience of having the option of accessing a range of services in one place,” Mr Paule said.

The primary element of the new branding is the launch of a new group name and identity; ‘Findex’.
Findex is an evolution of the Financial Index brand; an evolution of the business’ past. It has been carefully crafted to pay respect to the company’s heritage, but also represent who the group is today and its vision for the future.

The aspiration behind Spiro and Terry Paules’ launch of their fist businesses 28 years ago was to provide an ‘index, or ‘comprehensive list’ of financial services. The acquisition of Crowe Horwath has enabled the realisation of the vision on a wide scale.

An integral element of the Findex rebranding is the adoption of endorsed branding model to create a common thread between the business’ brands, its service offerings, and above all, its people.
This will see all brands in the group sporting the notation “Part of Findex” alongside their existing or refined logos.

“Throughout our journey of growth we have adopted a multi-brand strategy and this branding exercise involves unifying and clarifying the Findex family membership.

“The endorsed strategy will cover all major brands in the group including Crowe Horwath Australasia, Centric Wealth, Financial Index Wealth Accountants, Prescott Securities, CIVIC Financial Planning and MOVO – Online Financial Advice.

“The essence of the Findex brand is an organisation-wide commitment to revolutionising financial services and empowering the ambition of our clients,” Mr Paule said.

The post Findex announces new operating model and new brand appeared first on AdviserVoice.

Peter Gardiner, formerly ANZ’s Head of Origination, Corporate Bank, has been appointed Global Head of Business Development at Findex, expanding the Findex leadership team to seven.

Findex has $17 billion under advice and is Australia’s 5th largest accounting group through ownership and management of the Crowe Horwath accounting practice in Australia and New Zealand. Other Findex businesses include Centric Wealth, Financial Index Wealth Accountants, Prescott Securities and MOVO online financial advice.

Findex CEO Spiro Paule said Mr Gardiner is an exceptional business person with background in banking, accounting and financial planning.

“Peter has deep experience in both ‘Big 4s’. He held senior a position at the ANZ Bank for the past five years and prior to that was with Ernst and Young in a senior client-facing position.”

“He was also a founding director of a UK financial planning business, and importantly implemented a non-aligned fee for service model which, two decades ago, was not common practice in his native Scotland, where the business was based.”

“Peter has a passion for business that is built on his belief that success is driven by championing the client. This approach is in total alignment with the Findex philosophy.”

“His experience across the three financial advisory sectors equips him with a skill set appropriate for our business as we roll out a unique, holistic financial services offering from all Findex brands.”

“The Findex business model is to make available to all our clients a comprehensive suite of financial services under one roof, delivered and managed by a key trusted advisor.”

“Peter’s experiences and insight will play an important role in this process as we take our group to the next level, ” Mr. Paule said.

The post Findex expands C-Suite with appointment of Peter Gardiner from ANZ appeared first on AdviserVoice.

Former long-time MLC Chief Investment Officer and now independent financial adviser Chris Condon, and Emmanuel Calligeris, long-time former Chief Investment Officer of Optimix, will take up the positions immediately.

The appointment of these industry identities to the Findex Group Investment Committee complements the Group’s ongoing program to internalise more investment related processes following the $200m acquisition of the Crowe Horwath accountancy and financial services business in Australia and New Zealand.

These two appointments follow the recent announcement of former UBS and UBS O’Connor identity Dr Stefano Cavaglia as Head of Investment Research at the Findex Group.

Findex Group CEO Spiro Paule said both Chris and Emmanuel bring great wisdom and a wealth of experience to the critical role of investment product evaluation.

“The Findex Group Investment Committee is at the heart of the Group’s philosophy of non-alignment.

“All Findex Group businesses only recommend products that have been researched and approved by our independent investment committee. Findex does not manufacture investment products and does not receive commissions from the manufacturers of the investment products its advisors recommend.”

Chris Condon is now Principal of Chris Condon Financial Services Pty Ltd, a consultancy that advises institutional investors on the development and management of their investment program.

In his former role as CIO of MLC Investment management, Chris led a 19-strong team implementing a manager – of- managers approach for approximately $60 billion in assets, which was one of the largest true manager-of-manager funds businesses in the world.

Emmanuel Calligeris brings a depth of knowledge across all major classes of investment products and detailed knowledge of superannuation, risk management and compliance issues.   He also has a successful history in the development of new investment products.

The post Senior industry figures join Findex Group investment committee appeared first on AdviserVoice.

Dr Cavaglia is an internationally recognized investment manager with over 20 years’ experience across Australia, North America, and Europe.

He is best known for his path breaking work on the importance of industry factors that supported the restructuring of UBS Asset Management’s global equity investment process ($400b) which he led.  He subsequently founded and managed the UBS O’Connor quantitative long/short global equity product, out of Chicago.

His clients included some of the world’s largest and most sophisticated pension plans as well as high net worth individuals.

As head of research, Dr Cavaglia’s main role is to provide investment research services across all Findex brands, and add to the high level of service for clients, accountants and financial advisers.

Spiro Paule, CEO of the Findex Group said “Stefano’s technical skills and hands on portfolio experience have enabled him to deliver best of breed investment solutions to individual investors. These qualities are invaluable.

As part of the natural evolution of our business we will be undertaking a significant amount of administrative and portfolio services in-house. These changes are designed to further improve our client services and client experience and Stefano’s contribution will be invaluable in this process.”

“He has a strong experience in building investments solutions and we look forward to introducing him and his research work to our network of advisers, accountants and clients.”

“Apart from managing research across all our companies, Stefano will be responsible for integrating research and presenting a Findex house view on corporate governance and compliance.  These areas become very significant in a post GFC world and he will follow through integrating this across all our platforms, SOAs, MDAs and brokerage services.

“This appointment further strengthens our footprint as innovators and thought leaders in the financial services and accounting field,” added Mr Paule.

In Australia, Dr Cavaglia was most recently the portfolio manager at Philo Capital.  He has also worked at MLC Investment Management as the portfolio manager for alternative investments.

He was an economist at the Organization for Economic Cooperation and Development, based in Paris.  In addition to this he has consulted to World Bank and United Nations.

Dr Cavaglia has made significant contributions to practitioner’s knowledge and understanding of markets through numerous publications in trade journals.  His article ‘On the Increasing Importance of Industry Factors’ is cited widely as a reference in the CFA curriculum and featured by the financial press around the globe.

Dr Cavaglia holds a Ph.D. – International Finance and Economics, University of Chicago, and an MBA from University of California, Berkeley.  He is an Italian national and has been known to make client presentations in five different languages.

The post Prominent international investment specialist joins Findex as head of research appeared first on AdviserVoice.

Spiro Paule

The Findex Group advises that the Scheme Implementation Agreement proposed to Crowe Horwath shareholders has received a positive vote and Findex will now move to acquire 100% of Crowe Horwath shares in Australia and New Zealand.

Findex Group CEO Spiro Paule said “Findex will apply to the ASX for the removal of Crowe Horwath from the official list of the ASX with effect from the close of trading on 18th December 2014. “

Findex is paying 50c for each Crowe Horwath share, which places an enterprise value on Crowe Horwath of approximately $200million, and covers all Crowe Horwath businesses in Australia and New Zealand.

The acquisition price implies an equity value for Crowe Horwath of approximately $137 million. The balance represents Crowe Horwath debt for which Findex is assuming responsibility.

Findex intends to maintain and build the Crowe Horwath brand, which is the fifth largest accountancy group in Australasia with 110 offices across Australian and New Zealand.

The addition of the Crowe Horwath business will create an important strategic pillar in the Findex Group, allowing it to strike a more balanced service offering between financial advice and accounting. In addition to its wealth management, lending and risk protection divisions, the group now adds further expertise and market presence in accounting plus significant audit and corporate advice capabilities.

The Findex Group’s business model is based around independence from investment products and non-conflicted advice delivered across the spectrum of financial services. The transaction will mean the Findex Group’s advisory businesses will now have more than $15billion under advice whilst its combined accounting businesses will make it the fifth largest accounting practice in Australasia.

The post Findex Group acquisition of Crowe Horwath to proceed appeared first on AdviserVoice.

Spiro Paule

The Findex group yesterday announced the proposed acquisition of Crowe Horwath Australasia Ltd at a price of $0.50 cents per share which, if successful, would ascribe an enterprise value around $200 million and result in the privatisation of the Crowe Horwath business in Australia and New Zealand.

The transaction will take place by way of Scheme of Arrangement, with a Scheme Implementation Agreement having been entered into between Crowe Horwath Australasia Ltd and Findex Australia Pty Ltd. The acquisition price implies an equity value for Crowe Horwath of approximately $137 million. The balance represents Crowe Horwath debt for which Findex is assuming responsibility.

As part of the proposal, Crowe Horwath’s major shareholder, Alceon, has entered into an option which provides Findex with the right to purchase Alceon’s shareholding of approximately 19.87% in Crowe Horwath at the same price of $0.50 cash per share.

The bid follows a lengthy period of due diligence by Findex that included an extended round of face-to-face meetings, presentations and video conferences between senior Findex personnel, led by Findex Group CEO Spiro Paule and the majority of the Crowe Horwath principals.

These meetings took place across the main state offices of Crowe Horwath’s network of 110 locations in both Australia and New Zealand.

The Findex bid has the full support of the Crowe Horwath board who are recommending shareholders accept the offer in the absence of a superior proposal and subject to an independent expert concluding it is in their best interests.

Crowe Horwath Chairman Richard Grellman said: “After careful consideration, the Board has unanimously concluded that the proposal from Findex is a compelling proposition, offering Crowe Horwath shareholders a significant premium to the market price and fair value.”

Findex Group CEO Spiro Paule said: “Findex has a long-term strategy of growth through acquisition of quality businesses.

“We believe the Crowe Horwath businesses in Australia and New Zealand are a natural fit to the Findex stable because of the synergies between accounting practices, financial advice and financial services – a mix in which we have considerable experience.

“We plan to maintain the Crowe Horwath brand, and to grow the business, which we believe will prosper under our systems, culture and guidance,” Mr Paule said.

Crowe Horwath is a leading player in the SME market and is one of the largest and most significant accounting practices in Australasia, ranked 5^th by size in the market after the ‘Big Four’.

“Our group has acquired and successfully integrated businesses on more than 80 occasions since 2000 and Crowe Horwath itself is the result of a ‘roll up’ strategy executed over a similar period.

“Our corporate history demonstrates we are proven long term owners and buy businesses with the intention of adding and unlocking further value,” Mr Paule said.

“The hallmarks of the Findex Group include a strong and open corporate culture overlaid on a business built on robust systems and processes – we are the only financial services organisation in Australasia of any scale that is ISO 9001 quality accredited.

“It will be business as usual for Crowe Horwath clients, principals and staff but over time we are confident clients will notice and appreciate further enhancement to the already high level of service,” Mr Paule said.

The Findex Group is Australia’s largest non-aligned and privately owned financial advisory company. It has businesses across the spectrum of the financial advice industry including high net worth, middle range, public sector and online. The advisory business model is based on independence from investment products and non-conflicted advice.

The addition of the Crowe Horwath business in Australia and New Zealand will create an important strategic pillar in Findex, allowing the Group to strike a more balanced service offering between financial advice and accounting. In addition to its wealth management, lending and risk protection divisions, the business Group now adds further expertise in accounting plus significant audit and corporate advice capabilities.

“The Findex vision is based on our individual business offices being able to meet as many of our clients’ financial service and advisory needs as possible from under the one roof. We aim to offer a ‘family office’ suite of services that are open to all, rather than just a wealthy few, which is the typical domain of a ‘family office’ structure.

“The acquisition of Crowe Horwath, should we be successful, will significantly contribute to the further realisation of this goal,” Mr Paule said.

Findex is part owned by funds advised by global investment firm KKR and was advised by Jeff Singh of Chase Corporate Advisory, King & Wood Mallesons and Deloitte on the acquisition.

Findex Group businesses have around $8 billion under portfolio management, prior to the Crowe Horwath acquisition.

The post Findex agrees to acquire Crowe Horwath appeared first on AdviserVoice.