The Sydney branch of Grant Thornton, one of Australia's top five accounting firms, is ramping up its financial planning business.
To spearhead the growth Matthew Kidd has been appointed as a wealth investment management division director, starting early February.
Kidd was head-hunted from Accru Financial Planning (AFP) where he was a director and authorised representative.
"The growth we have experienced in a short period of time indicates that there are limitless opportunities in our existing client base," Grant Thornton Sydney chief executive Mark Bisset told InvestorDaily.
The firm began providing financial planning services two-and-a-half years ago when investment management specialist John Hornbrook was head-hunted.
Kidd will work alongside Hornbrook and report to Bisset.
Grant Thornton member firms have 521 offices in 113 countries. Its Australian offices are also in Adelaide, Brisbane, Melbourne and Perth.
Kidd was hired in 2000 by Accru Felsers Sydney to help create its in-house financial planning division.
Today it has more than $150 million in funds under advice and about 120 clients.
"[AFP] is a very good business, it's growing organically [and] providing a great service for accounting clients," Kidd said.
"My skill set is getting my hands dirty and growing businesses. [Grant Thornton has] got a very exciting vision of where they want to go with financial services and I want to be part of that."
Kidd was also co-brand manager for Accru nationally. Previously he was Adelaide Bank state business development manager for NSW and ACT.
AFP director Greg Newbury said he was finalizing the appointment of a new financial planner to join in early 2008.
