It operates within a social enterprise model and donates all of its profits to its charitable foundation, which supports charities around the world, the announcement stated.

Omniwealth Services managing director Matthew Kidd said the firm is pleased to have Pure Advice join its dealer group since it provides Omniwealth’s advisers with an option for clients who wish to become involved with philanthropic initiatives.

“We believe what [the team] are achieving is incredibly commendable and socially committed,” said Mr Kidd.

Pure Advice principal Matthew Byrne said most of the dealer groups the firm approached were shocked and confused when he mentioned that the business donated all its profits.

“We were looking for a group that really understood what we were trying to achieve,” he said.

“Not just a dealer that wanted to assist us professionally but a group or community that was value-driven and actually willing to work 'with us' to create a greater social impact.”

Mr Byrne said Omniwealth embodies the community and values that Pure Advice had been looking for.