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Have Lockdowns & WHF regimes now Acclimatised our Clients to the Use of Outsourcing / Offshoring?
Now, we don’t want to constantly be mentioning the past two years and the impact COVID has had on, well, just about everything, however this is our new norm. When asking just about anyone anything, most will typically ponder whether the answer or event was pre or post COVID. Whether we like it or not,…
Read MoreFactors that will Adversely Impact the Sale of Your Practice
As you can imagine, I get to speak to many many people looking to sell or buy professional practices, and it often intrigues me as to what some parties may consider favourable attributes or characteristics when in reality they’re actually not. Now, please let me preface this with, the following examples are not intended to…
Read MoreAnnual Leave Management – How will Your Firm Survive?
I touched on this, in part, a couple of months ago as firms began to re-open following Christmas. As the world learns to ‘live’ with COVID and boarders re-open, both nationally and internationally, there appears to be a real sense of spreading our wings and travelling again, particularly abroad and particularly for those who have…
Read MoreSecuring Your Succession
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…
Read MoreFive Do’s and Don’ts When Selling Your Practice
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…
Read MoreAre Salary Reviews About to Supercharge?
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…
Read MoreAre You and Your Team Back Rejuvenated for the Year Ahead?
Happy New Year. We hope all of our clients and colleagues, their families, staff and firms had a great break over the Festive Season and have returned to offices ready to go for the year ahead. The past couple of years have probably been some of the most challenging in memory for our various generations.…
Read MoreHas 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…
Read MoreSummation 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…
Read MoreTips & 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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