News and Articles

The sun is fast setting on the old way of business brokering. The privileged position of a business broker as a gatekeeper to information and connection is under threat in a world where clients can now find each other via searches on smartphones, and that means the most fundamental adage of business survival applies: adapt, or die.

Ever since we commenced selling accounting practices in 2001 the normal range of price for accounting fee parcels hasn’t varied much from where it sits today which is 70 cent to $1.10 of expected recurring turnover.

The Private Broker Network™ (PBN) is a members-only walled garden marketplace for business brokering and succession transactions. It is intended to be used by large networks of member businesses such as financial planning dealer groups and franchises.

A long weekend is a welcome break from the weekly routine, a chance to rejuvenate and reconnect with family. Maybe a short trip away from home, fishing trip, weekender… or just a chance to put your feet up and forget the schedule for a day. What if this were the norm, not the exception?

There are many pathways to succession. Many practitioners in the accounting space are choosing to broaden their succession options by appointing an equity partner. But how do you find the right one?

With the pending FASEA requirements and predicted changes as a result of the Hayne Royal Commission into the Financial Services industry we are certain to see planners exiting the industry in increasing numbers. Should you go? And if so, when?

When I bring up the topic of succession with accountants there is a common theme: "I want to improve my work/life balance and maybe take some equity off the table, but I don’t want to retire yet."

One of the most disappointing things I see is when an overworked practitioner writes to some of their long-time clients to say that they can’t represent them anymore. It’s the business goodwill equivalent to burning cash.

In response to an increasingly competitive marketplace many Financial Planning firms are bundling an accounting service to make it easier to attract and retain clients.

Now that the Financial Services Royal Commission final report has been handed down one thing is clear – the way Financial Planning and Insurance Businesses are traded in the market place will change.