In September 1897 John Stubbs open a sole practice accounting firm in Shepparton where for the next 30 years he built the company into a prominent accounting and auditing firm for many of the districts major private and government organisations.
The Ardmona cannery had its first annual meeting with the auditor being John Stubbs. Pickworth Orchards, a valued long standing client of Stubbs Wallace was represented on the Board of Directors by an ancestor of current day director, Mr Stuart Pickworth.
Vic Stubbs joined with his father prompting a name change to Stubbs and Son, and a new chapter commenced.
With the desire of Vic to expand the business, 1935 saw him join with Jim McNeil and Neil Dennis as partners, expanding the firms auditing of the local cannery – SPC.
World War II begins.
With the passing of John in 1940 Vic Stubbs assumed senior partner. John Stubbs had been an active member of the community for many years including as secretary of the Shepparton Cemetery Trust for 38 years. He had also maintained other business interests in Shepparton, one such being a motor garage on Wyndham Street.
Neil departed in 1942 to join SPC as a senior executive, until his retirement some 25 years later.
Jim retired leaving Vic as sole proprietor of the firm with five staff members.
The firm was operating from the old AMP building situated on Wyndham Street, Shepparton.
The story of Stubbs and Son entered a new chapter, the same year that the torch of the Melbourne Olympics was brought through Shepparton. For almost 60 years the firm had remained in the Stubbs family, but with the retirement of Vic the firm was purchased by local Shepparton accountant Errol Wallace. To the firms name he added his own – renaming it “John Stubbs, Wallace and Co” and was operating with a staff of six employees.
The firm has by now grown to include a staff of 12 members and has moved to the old CML building on the corner of Wyndham and High streets.
Whilst Vic Stubbs had plans to expand the business into other towns it wasn’t until 1965 under Errol that this came to fruition, establishing the firms first Branch office in Kyabram.
Closure of the Kyabram branch to ensure greater concentration on the Shepparton operations.
Saw Errol join partners with Ken Tyquin, Albert Kellock and Brendan Kelly, and with the new partnership the firm was renamed “Stubbs Wallace and Partners”
Whilst the Kyabram office may have closed, Stubbs Wallace and Partners continued to expand with the purchase in 1973 of a practice from Keith Kitchen in Jerilderie. Brendan Kelly was involved in the development and structure over the initial years, and a staff of two employees was maintained at the office.
Purchase of a Euroa office in Railway Street from Neil McKernan, Brendan Kelly assumed responsibility with Ken Tyquin, performing a similar role for Jerilderie.
Continued growth saw more changes for the firm along with the demand to relocate to the larger premises of 158a Welsford Street. With the advent of the PC came a major computer acquisition for the firm. The first computer in the firm was a huge beast by today’s standards, with no hard drive and had less than 512 K memory. Accountants had to change the way they worked and this was the start of the firms heavy commitment to technology.
Gradual growth and the need for more storage space prompted extensions to the rear of the building at 158a Welsford Street, Shepparton.
Errol Wallace retires after 27 years as principal, coinciding with the appointment of Ian Nalder and John Lyle to partners. With his retirement, the firm maintained a partnership of 5 and a staff of 13 (including two personnel at the branch office of Jerilderie and 3 at Euroa).
Stubbs Wallace and partners acquired the practice of Joe Goyen. Partners and staff then totalled nineteen.
Bill Lee joined the partnership becoming the sixth partner. The introduction of Capital Gains Tax in September saw a major change to Australia Tax laws.
John Lylen left to take up a Finance Manager position with the Shepparton News Group.
Expansion continued with the purchase of chartered accountancy firm Doug Wastle and Co. in Finley, and the retention of his four staff members.
Ken Tyquin partner for 26 years retires. The firm’s Euroa office was sold to branch manager Noel O’Meara, who had been managing the office since 1979. Noel continued to practice under the name “Noel O’Meara and Associates”.
Albert Kellock retired from partnership. In October of the same year, extensive flooding to the Shepparton region affected Stubbs Wallace and Partners with water flooding storage facilities under the Welsford Street building, destroying many of the old tax and office records.
The Shepparton Practice of Albert Borzillo’s was acquired – the same year the firm celebrated its Centenary. On May 31st, Stubbs Wallace and Partners held a Centenary reunion of past and present at the Shepparton and Baringa Centre to celebrate.
The partnership dropped to 3 until Thomas Chick joined.
The Shepparton office at 158a Welsford Street was extended again, this time creating a new entrance at 160 Welsford Street and adding much-needed space to the building, which now houses 4 partners and 15 staff members.
Brendan Kelly left the partnership to open his own financial planning business – Strategic Wealth.
Change of name to Stubbs Wallace Pty Ltd.
Appointment of Adam Purtill to Director, located at the Finley and Jerilderie offices.
July saw Bill Lee step away from the role of director after 25 years and Karen Collins joined the directorship.
In December Ian Nalder resigned as director after 29 years.
Closure of the Jerilderie office.
Thomas Chick resigned as Director in June of 2014