Financial planning firm, Altitude Wealth Management, has continued its growth trajectory in Townsville and the Burdekin with the recent merging of Grasso Financial Services into its business earlier this month.
Established in Townsville in 2007, Altitude Wealth Management is a boutique financial management and advisory firm specialising in retirement planning, investing, superannuation and insurance.
Founder and Practice Principal, Dennis Di Bartolo, said that consolidation in the industry was important to drive cost efficiencies following years of government interference where the cost to provide advice has spiralled.
“Despite government attempts to make financial planning advice more affordable to everyday Australians, increased regulation, higher insurance costs and the cost of living, is putting pressure on salaries which has only added to the cost of advice,” said Mr Di Bartolo.
“Over the past few years, adviser numbers have fallen by 50 per cent across the country following new education requirements to be enforced by January 2026.
“It comes at a time where quality financial planning advice is more necessary than ever to help people navigate the cost-of-living crisis and plan for a comfortable retirement that is not reliant on government support.
“Integrating the Grasso Financial Services business is a good fit for us as it provides strength and synergies to help combat the industry challenges, ensuring continuity and quality advice to clients.”
“My business partner Mark Tyrell and I have taken pride in building a business based around trust, transparency and quality advice. Our clients are our priority, but our people closely follow them, and we know that John, Tonia and team share our values and will be instrumental in building on the success we’ve had thus far.”
Grasso Financial Services was founded in Ayr by John Grasso 18 years ago, with Tonia Sanderson in a supporting role before she became a business partner eight years later. Together with their team, they continued to grow and open a second office in Townsville in 2013.
“As a former Ayr local myself, John and I are long-time mates and the potential to merge is something we have always talked about,” Mr Di Bartolo said.
Combining the two businesses has bolstered their adviser numbers to seven covering all areas of advice with an additional thirteen support staff across the Townsville and Ayr offices.
“It has been a seamless transition,” said Mr Grasso.
“All our staff are very excited about the next phase, and joining with the Altitude Wealth Management team simply strengthens our service proposition and provides continuity to our clients.”
Photo Left to Right:
Mark Tyrell, Partner Altitude Wealth Management, Tonia Sanderson from Grasso Financial Services, John Grasso from Grasso Financial Services and Dennis Di Bartolo, Founder and Practice Principal of Altitude Wealth Management. Photo supplied
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