Has the Change in Training Requirements for FP Advisers Prematurely Led to Industry Departures?
I have been reading with interest the varying commentary around the declining number of licensed financial advisers within Australia with a more recent piece reporting a decline in calendar year 2021 alone from around 21,000 to almost 18,000 advisers by year’s end. Reportedly, many of those retiring and leaving the professional have done so based…
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Summation 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…
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Tips & 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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Have We as a Profession, at Least in Part, Contributed to our Current Staffing Issues?
Let’s face it, staffing has typically been a world of pain for the accounting profession for many many years now, with perhaps the exception of the last GFC, as well as may be during the early onset of this pandemic when so much was unknown. However, as NSW and VIC began coming out of lockdown…
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Am I Old Fashioned or Do I Just Not Understand the Younger Generations’ Need to Chop & Change Jobs?
Call me old fashioned or out of date, however how do employers feel about employing staff who seem to chop and change jobs every couple of years? This was a question I found myself posing during an assignment we were engaged to perform for one of our clients. The task was to find a senior…
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Are Advisers’ Services at Risk from Banks & Super Funds?
Watch out advisers, the relationship you have with your clients is at risk! Well maybe, maybe not. However, recent times and the immediate future does pose some intriguing considerations and potential trends, perhaps more influential in specific locations and professions. During the past 18 months or so, many advisers across the professions based in NSW…
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Is My Firm Big Enough to Support an Additional Equity Holder?
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
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?
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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