Posts by Rob Knights and Co
Achieving a Fair Value for Your Equity
As we approach the last quarter of the financial year, those parties looking to retire, sell down equity, or depart a firm, will often start considering the potential value of their equity. All too often we hear a comment along the lines of ‘I just want to do what is fair for all parties’ or…
Read MoreHighlights from our Typical Fees Report
Our 2023 Typical Fees For Common Services Report was released yesterday to a strong participant and non-participant group. We had expected to find some fairly healthy increases in these fees for the period given the static or conservative nature of fee reviews during the pandemic by many firms as well as the underlying inflationary pressures…
Read MorePractice Assets that are Typically Transferred upon Sale
A couple of recent practice sales reminded me that not everyone is necessarily aware of all the assets or items that are typically incorporated within, and transferred as part of, a practice sale. Hence, I thought it may be helpful to outline some of the common inclusions and the prep work that is required in…
Read MoreSourcing Succession Can Be Hard
Sourcing and attracting new partners to a firm can be challenging at times with our many years within the professions highlighting that many firms experience one of two trends. The first is a pattern that we’re often asked to advise on where a firm is unable to source internal successors and therefore feels they need…
Read MoreStaff Culture and Management Key to Successful Practice Sales
One of the primary drivers, in addition to growth, for the current acquisitions of practices / fees is the desire by the purchaser to also retain any professional staff that may currently be employed in the practice for sale. This is also generally a key criterion for selecting the right purchaser with most vendors telling…
Read MoreSecuring Your Succession
Succession planning is something that is done rather poorly in businesses across the country and perhaps the world. All to often, little or no preparation is performed. Arguably, succession is something that requires planning from day dot. However, getting to a desired retirement age, either willingly but without forethought, or through necessity, due to poor…
Read MoreFive Do’s and Don’ts When Selling Your Practice
Selling your professional practice comes with numerous challenges that should never be underestimated. Achieving a successful outcome, or otherwise, will often be driven by how familiar both parties are with the process, their knowledge of current market conditions, their willingness to be reasonable within their expectations, and their availability of time to work through the…
Read MoreAre Salary Reviews About to Supercharge?
We have been hearing from firms since the last quarter of 2021 of the difficulties they are experiencing in attracting and retaining personnel, as well as the expectation of staff for more significant salary reviews, particularly amongst the Eastern States. This seems to be on everyone’s lips based on the number of questions we are…
Read MoreSummation of Our Latest Benchmarking Results
With the initial results of our December 2021 Charge Rates & Salaries Benchmarking report released prior to Christmas, we have been able to update both participating and non-participating firms with the very latest key performance indictors within Australia’s public accounting firms. This report is suitable for sole practitioners all the way through to second tier…
Read MoreTips & Traps When Changing Financial Planning Licensees
Through our practice broking and valuation services, we have for many years now observed the interactions between Dealer Groups/Licensees and their representatives within multidisciplinary and standalone financial planning firms. Prior to many of the more recent industry changes, there was this underlying view by the licensees that they owned the clients serviced by the planners,…
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