News and Articles

Covid-19 has caused unprecedented disruptions to SMEs across Australia. For accounting practices this has impacted the value of goodwill – but how and how much this affects practice value and the sale process is still an open question.

Some practitioners are comfortable with the assumption that they will continue working until the end of their life – what might be considered the “die at your desk” model. Fair enough, but there are big problems if you arrive at this position by default.

Appointing a new equity partner can be an effective way to underpin the continued growth of a firm, particularly when they bring an existing fee base with them. This can mean increased profitability, increased stability – or increased problems, if you don’t pay attention to the terms.

In the first quarter of 2020 we’ve seen a material increase in enquiry from vendors of small financial planning books seeking to sell. And it’s not just Covid-19 or FASEA driving this trend.

Succession can take many forms depending on your situation and goals. Considering a merger can give you options beyond a simple all-or-nothing sale.

One of the benefits of having a tech team working alongside our brokering unit is the ability to draw data from our M&A platform to identify trends. We’ve been developing data prospecting tools to help us build a Buyer Index for the accounting industry.

It’s a mostly acknowledged truth that the pace of Australian corporate world tends to shift following Melbourne Cup day. It comes much later for accountants who, defined by lodgement deadlines, tend to soldier on well into December – whereupon things tend to stop completely.

You love what you do, and you’re good at it. So why should you just stop? Perhaps you shouldn’t.

Embracing technological change is always a challenge, particularly in the field of accounting. How can you keep ahead of the curve without adding even more to your professional education workload?

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."

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.