SOLD
Multidisciplinary Practice - Northern Rivers

This long-standing and established multidisciplinary firm offered a unique combination of financial opportunity and lifestyle, ideally suited for a purchaser seeking a sea change or a firm looking to strengthen its presence in the Clarence Valley. With fees of approximately $1.1 million, the firm provided a comprehensive range of accounting and financial planning services. Over its 40 years of operation, the firm built a strong reputation in the community, driven by its partners’ commitment to servicing the local region.

Key Highlights:

Client Base:

• 800 client groups with an average annual fee of $1,200.
• Diverse industries, including government, real estate, transport, investment, primary industry, and audits for registered clubs, schools, and nursing homes.
• Many clients retained for over 25 years, with younger clients continuing to join, ensuring stability.

Revenue Composition:

• Individual returns: 26% of fees.
• Companies: 19% of fees.
• SMSFs: 13% of fees.
• Financial planning services: 11% of revenue.
• Top 20 client groups contributed 21% of overall revenue, with the largest client generating $23K in FY 2017.

Lodgements:

1,550 tax lodgements in 2016, with an average fee of $650 per return.

Operations:

• Senior partner retiring, with other partners reducing workloads but willing to remain as employees.
• Retiring partner available to assist with a transition for up to 12 months, particularly for audit work.

Premises:

Continuity at the current location was preferred, although amalgamation with another local firm was possible.

This community-driven practice combined financial success with a lifestyle opportunity, offering growth potential for an incoming purchaser.