AUB Group has entered into a partnership with accounting and tax services network group Kelly+Partners to provide a wider range of advice and assistance for clients and members.

A new operation Austbrokers Kelly+Partners will market and deliver services, with much of the insurance activity underpinned by the brokerage’s ExpressCover platform.

Kelly Partners Group Holdings (KPG), which has followed AUB’s approach with an owner-driver model, has a 51% interest in 21 operating businesses in NSW and Victoria and has about 8000 clients.

AUB Group intends to reinvest 50% of the profits attributable to Austbrokers from the venture into equity into KPG.

“Our partnership is a natural next step in the relationship between two organisations with a very similar DNA,” AUB CEO Mike Emmett said.

The venture is not expected to deliver any material uplift in underlying net profit this fiscal year for AUB Group, which has a network of 94 businesses servicing 700,000 clients.

The venture’s offerings will include provision of general and life broking services to Kelly+Partners clients and members, delivery of accounting and tax services on the Austbrokers side and the development of insurance, tax and accounting advisory services for the strata industry.

KPG Chairman and CEO Brett Kelly says the arrangement is expected to have a material impact on his company’s earnings over time.

“We expect to continue to significantly expand our client base and revenue streams through this equity partnership, which will grow our service offering to our clients,” he said.