A Message From the CEO

A fresh financial year always serves as a pertinent milestone to take pause and reflect on the accomplishments of the previous 12 months, while also setting our sights on future opportunities.

For Moore Stephens Victoria one word defines the past year’s activity - growth.

Not only have our Directors and team members enjoyed the challenges presented by an expanding client base, but we’ve also had the privilege of helping our clients realise their full potential, whether that be nurturing their existing businesses, building their private wealth, or assisting them to explore new and exciting directions.

To all our clients, I want to express my sincere thanks for your ongoing support. Seeing you prosper is our greatest reward.

We’ve welcomed 42 new staff and 20 new roles to the Melbourne and Geelong offices which have deepened our expertise and extended our service offering.

Four new directors have recently joined our ranks and they’ve brought with them different client profiles, expertise and an energy that is consistent with the organisation’s long-term strategy and vision.

I am a firm believer in investing in our people, and our stand-out growth is defined just as much by our employees’ professional development as it is by Moore Stephens’ performance.  

At our Geelong office, this has meant recruiting local talent from the state’s western corridor and establishing meaningful roots within the community, while also being able to leverage the capabilities of our larger Melbourne office.

We’ve also embraced new technologies including live data which has enabled our clients to make decisions with greater precision and speed. Technology, while necessary, however, cannot replace the strength of relationships or the understanding of the intimacy of running a business. It’s why our partners best complement this service by providing meaningful analysis, so the data is also relevant and useful.

It would be amiss of any discussion about the past 12 months not to address the fallout of the Financial Services Royal Commission which has seen the financial sector capture the national media’s attention for all the wrong reasons.   

The most immediate impact resulting from the Royal Commission has been the move by some of the big four banks and other large-tier firms to distance themselves from the financial advice arms of their businesses. CBA, NAB and Macquarie are all either selling up or restructuring.

The Royal Commission has already led to a tightening in lending conditions and moving forward it will also alter the way many licensed financial advisors do business. Many are employed either by a bank or large institution via a series of dealer groups but trade under a different brand name. This means there will be a greater desire for quality, independent advice and fortunately, Moore Stephens is well equipped to answer this need as we have our own licence, autonomous from the large institutions.

Despite the continuous changes in the economic landscape, I believe businesses which are agile and creative will thrive. For such clients, we’re witnessing growth of 30 per cent and beyond. There’s also increasing demand from international organisations wanting to do business in Victoria, and together with our overseas affiliated offices, we are well placed to facilitate that interest.  

As for Moore Stephens, our upward trajectory is set to continue, and we have plans to build upon the strength of our leadership. Moving forward, we will also be making significant investments in our corporate bookkeeping, family office and debt advisory divisions to ensure we can meet and exceed expectations.