MGD Wealth chief executive John Barton tells Miranda Brownlee how assigning each team member with a different specialisation has kept his firm on top of its technical game.

Snapshot

Company: MGD Wealth
Location: South Brisbane
Directors: 8
Clients: 1,800
Total staff: 42
Platform: BT Wrap
Software: BGL, MYOB
Research: Lonsec, BT Select and Morningstar

One of the key challenges within the SMSF industry, according to John Barton, is that SMSF professionals often aren’t willing to admit they are not across all aspects of tax, investment and superannuation.

There are many moving pieces in the superannuation space, so many smaller firms struggle unless they partner with other professional firms in areas outside their main focus of expertise.

“We’ve got the advantage of having eight or nine senior people across all the areas of tax, investment, financial planning and superannuation and if you include some of our up and coming staff, then we have 15,” says Mr Barton.

Even with this number of staff, the firm still partners with third parties to solve specific problems, since this ensures clients get the best advice they can.

“You’ve got to invest in those relationships as well. It’s about putting professional pride ahead of personal ego and saying, ‘Look, I need to go away and do some homework and maybe get someone else involved to help here’,” he says.

To read the entire article please click here