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Is SMSF Licensing Really that Imperative to Your Firm? In the first instance, let me emphasise, if your firm currently provides advice around SMSFs that will require a license post July 2016, our strongest recommendation is to complete the necessary training and obtain the appropriate license, whether that be as an authorised representative of a…

Are Off-Market or Publicly Listed Practice Sales Better? Practitioners often ask me, ‘what’s the market like for practice sales at the moment’? My recurring response is generally along the lines ‘I would be a very happy woman if I had a practice to sell for everyone who wanted to buy one’. In essence, it still…

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December 2018 Charge Rates & Salaries Survey REGISTRATIONS NOW OPEN Powering practice performance with the latest industry data. Ensure you have this key data at hand to assist with the all important Christmas / New Year review period. If you are contemplating paying bonuses for the Festive Season, first know how your current remuneration packages…

The Double Edged Sword of having Future Partners within Your Firm Many firms would probably die to have this problem. All too often when we discuss the future succession options for a firm, we hear two predominate comments; ‘no-one currently in the firm wants to be a future partner’, or our favourite, ‘there is no-one…

The Nature vs Nurture Debate Around Professionalism As some of you will no doubt be aware, the 2015 Roy Morgan Image of Professions Survey highlights a less than desirable trend for our specific professions of interest based upon a survey of approximately 600 people aged 14 years and over. Last year, the percentage of respondents…

Is Spreading Your Wings Your Next Growth Strategy? Historically the professions have been pretty good in terms of growth. The accounting profession would grow year on year, 10% or so, without much difficulty, until the last GFC. Now, if we think about how this event impacted the professions; our legal colleagues were probably a little…

Mistiming Your Exit Won’t Necessarily Result in a Shorter Transition Period Trying to get the timing right for your departure from practice is often one of the most difficult aspects of succession or sale. People often say that by the time someone decides to resign, leave or otherwise change their circumstances, the decision in reality…

The Impact on Client Retention when Selling to an Unfavourable Firm When selling a firm, most vendors say to us that they want to find a new home that will look after their clients and staff well. In essence, most parties want a transaction to be successful. We want the clients to be happy and…