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…

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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…

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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…

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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…

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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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So we all know and appreciate the basics of supply and demand. This has been a principle that has been influential upon the transactional market, of particularly accounting firms, for many years now. Essentially, the availability of accounting practices for sale in the open marketplace in many core areas throughout Australia has been limited for…

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We recently released our 2021 Efficiency and Productivity Reports which highlight the number of hours charged to clients, as well as the revenue produced, by various personnel within firms. This data is often utilised by firms to assess excess capacity amongst its resources, as well as set salaries and performance targets, finetune budgets and forecast…

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As advisers, most, if not all of us, would spend a proportion of our time encouraging our clients to seek legal advice in respect of the implementation of partnership or proprietorship agreements when in business with others, as well as the drawing up of documents such as wills, powers of attorney and enduring guardianships. However,…

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