One of the industry’s most successful mortgage brokers has expanded his offering by launching an accounting business, appointing a senior chartered accountant.
Fornaro Financial Group (FFG) founder Tony Fornaro, who launched the diversified group in 2000, was named Residential Broker of the Year in 2015 and ranked in the top ten Elite Business Writers in 2014.
The Queensland-based FFG’s accounting services will include strategic tax planning and compliance, entity establishment and structuring, SMSF compliance, cash flow and budget management, and business advisory, structuring, performance and compliance.
The expansion bolsters the group’s service offerings of mortgage and finance broking, financial planning and wealth creation, accounting, property and professional services.
Mr Fornaro said that up until 2006 the business had been purely a mortgage and finance brokerage, but he found his clients were increasingly looking for a complete financial solution.
“Since then FFG has continued to expand its service offering to meet the needs and aspirations of our clients,” he said.
Obtaining a Tax Practitioners Licence was the next logical step in FFG’s evolution and complements the group’s Australian Financial Services Licence and Real Estate Licence.
“I firmly believe in order to stay relevant in the market, brokers need to look for ways to better service and retain their clients; diversifying to offer more services to meet your clients’ needs does this,” Mr Fornaro said.
“The evolution of our industry has long been happening and clients are becoming savvier, more time poor and more demanding of comprehensive solutions and results from their financial experts,” he said. “Our industry is about creating long-term meaningful relationships with clients and not just transactions; FFG does this by being our clients’ true financial expert.”
The group said that more than 50 per cent of its clients engage FFG for more than one financial service.
Mr Fornaro has steadily rocketed up the rankings in The Adviser’s Elite Business Writers, placing 35th in 2012, 29th in 2013 and 9th in 2014.
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[Related: Are you one of Australia's top 50 brokers?]
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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