Equity Planning and Succession
Succession · Equity Buy-In The Equity Promise Most Firms Cannot Keep Capable senior people want to buy into accounting practices again, for the first time in about a decade. But there are only two ways to give them equity — add a seat, or free one up — and a great many firms can do […]
AI in Accounting Firms: Why the Client Relationship Still Wins
Growth · Artificial Intelligence AI in Accounting Firms: Why the Client Relationship Still Wins Used as a shortcut, it quietly erodes the one thing clients pay you for. Used well, it is the best chance in a generation to be the firm they will not leave. Michelle Knights · Rob Knights & Co Every few […]
Accounting Firm Consolidation
Practice Broking · Industry Insight We’ve seen this before. Australian Accounting Firm Consolidation: What the 2000s Aggregations Teach Us About Today’s Buyers The last time this happened, four major aggregators tried to roll up the profession. Three collapsed. One survived — and not in its original form. Michelle Knights · Rob Knights & Co We […]
Do you have a succession plan for your accounting practice?
Succession · Staff & Training Do You Have a Succession Plan for Your Accounting Practice? The accounting staff shortage has reshaped succession planning. Here’s what it means for your practice. Michelle Knights · Rob Knights & Co I wrote recently about the tendency in this profession to dismiss senior staff as “not partnership material.” That […]
Partnership Material
Why Your Firm Has No Internal Succession — And What to Do About It Succession & Partnership There Is No Such Thing As “Not Partnership Material” The phrase senior practitioners use most often to explain why they have no internal succession options is also the one that reveals most about why they don’t. I have […]
New Anti Money Laundering Rules For Accountants
Anti-Money Laundering (AML) Law Changes in Australia What Accountants, Lawyers and Finance Professionals Need to Know Before 1 July 2026 Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) framework is entering its most significant expansion in more than 20 years — and the practical impact will extend well beyond banks and financial institutions. If you’re an […]
Future of Accounting
The Great Exit: Why Australia’s Accounting Workforce Is Shrinking — And What Happens Next — Australia’s accounting workforce is shrinking. Retirement, compliance burdens, staffing shortages and shifting career paths are driving more practitioners to exit earlier than expected. At the same time, AI is reshaping roles, salary pressures remain intense, and succession opportunities are opening […]
Real Succession Planning Includes Planning for a Loss of Skill & Expertise
Successful succession planning is as much about understanding – and preparing for – the skills, expertise, and knowledge that will leave with the exiting partner as it is about selecting the right fit.
The Five C’s of Succession Planning: What Really Matters?
An important consideration as part of succession planning is how you will ensure a smooth transition that retains clients, preserves firm culture, and upholds professional standards. Whether you’re passing the baton internally or selling externally, the key to a successful transition lies in five core principles:
The Ultimate Guide to Succession Planning for Accounting, Law, and Financial Practices
Succession planning is not just about preparing for the eventual sale or transfer of your practice; it is a strategic approach to ensuring the long-term success of your business, your clients, and your team. A well-executed plan safeguards your legacy, maintains continuity, and provides clarity for all stakeholders. Here, we explore why succession planning is vital, the common mistakes to avoid, and how to create a tailored plan for your practice.
