Blog
November 27, 2018

Remembering the GFC – The sky is not falling

Falls in house prices and US stocks are on everyone’s lips. Despite our fantastic economy, we're having a correction in the housing market. The conversation is heating up and its all around negativity. Accountants are asking what it all means for their exit strategy? Are the times a-changing? Is this GFC Mark II? If you planned to sell your business, will you find yourself stuck as sellers did back in 2008. Did your retirement plans just go up in smoke? Some would…
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November 23, 2018

Gains & Pains with Accounting M&A – Report

Strong ongoing demand for M&A within the accounting and financial advisory sectors, despite challenges Despite challenges with integration following M&A within the accounting and financial advisory sectors, there remains strong demand from prospective buyers. This report, based on a survey of 46 accounting and financial advisory firms, confirms that most firms involved in M&A adopt a relatively casual approach to integration. Almost 60% of firms said that their post M&A integration process was loosely planned or completed in an ad…
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Blog
November 8, 2018

AFR’s Top 100 Accounting Firms – 2018 Edition

The results are in from AFR's annual ranking of the top 100 accounting firms in Australia. Accounting firms that have emulated big four firms Deloitte, EY, KPMG and PwC by moving into non-accounting services have been the big winners in a year when the Top 100 firms posted more than $11 billion in revenue. The Australian Financial Review Top 100 Accounting Firms for 2018 reveals a jump in the percentage of Top 100 firms that reported advisory is the fastest growing part of the business. More than 80 per…
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Blog
October 30, 2018

Developing a Retirement Plan – increases your sale price

There is one obstacle in the way of a successful sale of your practice that might surprise you. It has nothing to do with your clients or staff. No. It’s your imagination! What do we mean by that, you ask yourself... Many accountants simply cannot imagine life after divestment of their practice. In my experience, accountants don’t retire; they just find new goals. And they are like Olympic champions (stay with me here); without a gold medal to work for,…
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Blog
September 28, 2018

How to add 20% to your practice value – the hook

What would you do if your new financial year started with one of your key staff walking out the door with $200,000 of your fees? Wouldn’t happen? I have seen it on many occasions. And while I lament the passing of the honourable handshake in business as much as the next person, I have to believe the evidence of my own eyes. The question is, why is this happening? Because it can. Let me explain. Accounting is still a relationship…
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Blog
September 20, 2018

Macquarie AFS Benchmarking Report

It is out, the ‘Macquarie AFS Benchmarking Report’. A fantastic insight into Macquarie Bank’s professional arm and what their stats are surrounding the Profession.   Go to their landing page, click the ‘Download the report’, it will scroll down for the standard ‘populate your details’ and BINGO download a copy of the report:   Link: https://goo.gl/ZoHj7p   In summary, the industry is on the move, acquisitions are still sought, a strong push of systems and procedures intertwined with technology is pushing up metrics and the…
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Blog
August 8, 2018

The Seduction of Growth (gurus)

Are you being seduced by a GROWTH story that could harm your firm? Have you noticed how many growth gurus there are these days. You know the ones, good-looking, silver tongued motivational speakers and authors, bouncing around on stage like they’ve just chugged two energy drinks. Growth gurus have a story, a mantra: Growth is Good. Growth is King. If you aren’t growing, you're dying. Growth is a silver bullet that will solve all your problems. Because if you are…
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Blog
August 8, 2018

2018 M&A Pulse Report

Have you been involved in a merger or acquisition in the past 5 years? Would you like know more about the challenges accounting and financial advisory firms face in successfully integrating following M&A? The 2018 M&A Pulse Report will provide feedback on key aspects of M&A strategies for accounting and financial advisory firms focusing on: Brands, Clients, Teams, Systems and Processes wrapped in Cultural Integration If you’ve been directly involved in M&A deals within your firm (as a buyer or as…
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Blog
July 16, 2018

Happy New Financial Year

It’s the silly season for accounting practices again: busy meeting crazy expectations from clients and scribbling notes to self (as the dollars roll in) – ‘cut hours; increase fees; spend more time with family’. As one door closes, another opens. Banks are hiving off their wealth management divisions as fast as they can, trying to get ahead of the recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services. Blockchain platforms proliferate as fast as opinions…
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Blog
May 16, 2018

Accounting firm values maintain trajectory amid royal commission fallout

Accounting firms that refused to succumb to the allure of financial planning have never looked better. Nothing reinforces the value of a good accountant quite like a federal budget. Morrison’s announcement last week contained no less than 33 tax changes ranging from personal income tax reductions, to instant asset write offs for small business, and tweaks to self managed superannuation funds. Try wading through that quagmire without the aid of a sensible accountant and your sanity intact. Not likely. On…
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