Is My Firm Big Enough to Support an Additional Equity Holder?

By Michelle Knights | October 25, 2021

One of the many areas that we consult with firms is around the introduction or admission of new / additional equity holders. We consult on such matters, we perform valuations for such admissions, and so on. However, it is really important to appreciate that your firm may not necessarily always have the ability to admit…

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Supply & Demand – The Basics Driving Practice Pricing

By Rob Knights and Co | September 29, 2021

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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How Efficient & Productive is Your Firm?

By Rob Knights and Co | September 29, 2021

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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The Importance of Proprietorship & Estate Documentation

By Rob Knights and Co | September 29, 2021

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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SMSF Clients – How will your Firm Address this Need Moving Forward?

By Rob Knights and Co | April 29, 2021

From time to time we have received enquiries from parties interested in purchasing SMSF audits as well as the compliance work associated with SMSFs. It has always kind of intrigued me what that conversation would tend to look like with clients, and furthermore, what the benefit would be for the firms, other than the sales…

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Personnel Problems

By Rob Knights and Co | April 29, 2021

In short, there is something funky happening in respect of accounting personnel and all firms should be wary. We appreciate staff, good staff, are never easy to come by, especially in regional centres, although perhaps with the pandemic we have had some reprieve from the significant need to recruit. That said, since around October last…

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Location, Location, Location, is this as Important Anymore?

By Rob Knights and Co | April 29, 2021

For many many years, professional firms have generally been quite selective about where their offices have been located. The quality of a firm’s office was thought to contribute to their brand, professionalism, image and the like. For the big end of town, this is particularly so, often locating their offices in the biggest and best…

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Build a relationship for better client retention

Relationship-based clients are stickier than you think

By Rob Knights and Co | May 11, 2020

Client retention is clearly one of the greatest unknowns within any business. Once you have serviced a client, will they come back? How many times do I need to have serviced a client before I can really call them “my client”? This will obviously be different across various industries. People are perhaps less dedicated to…

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Succession Planning Rob Knights And Co

We need to find a way past generational expectations to aid succession

By Rob Knights and Co | May 7, 2020

For almost as long as I can remember now, many professional firms throughout Australia, and probably the world, have utilised two primary reasons why their firms have no internal options for succession. These being: 1. The staff have not expressed any interest in becoming equity           holders in this firm 2.…

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