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Why Some Firms are Not Experiencing Recruitment & Retention Difficulties
I recently met with a practitioner who was probably one of the most fortunate within the profession at present. Unlike every other firm I have spoken to in the past year, two years, etc, they were experiencing absolutely no difficulties in recruiting or retaining their personnel. This was put down to firm culture. They took…
Read MoreImproving Your Firm’s Lock Up & Cashflow
Managing a firm’s lock up and cashflow often varies across the profession depending on profitability, practice structure and size, desired salaries or drawings, profit distributions, external funding sources and even the desire to manage the payment of tax. However, pleasingly we have been noticing some gradual improvements in the average WIP and debtor days being…
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,…
Read MoreHave 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…
Read MoreWe need to find a way past generational expectations to aid succession
For almost as long as I can remember now, many professional firms throughout Australia, and probably the world, have utilised two primary reasons why their firms have no internal options for succession. These being: 1. The staff have not expressed any interest in becoming equity holders in this firm 2.…
Read MoreWhat our Charge Rates and Salaries survey delivers for your practice
Our Charge Rates & Salaries Surveys give you the very latest data to underpin your review process. Benchmarks are an invaluable tool for REVIEWING and IMPROVING the performance of your practice. It’s immensely important to have the latest market data and commentary at hand to underpin and inform decisions. Why benchmark your salaries and charge…
Read MoreFive things to avoid at sale time
Doing the wrong deal is worse than doing no deal. But, getting the right deal takes time. Here are five critical factors to ensure the best result when selling your practice. Don’t wait too long to initiate a transaction. You risk giving the process enough time. We all hear commentators and advisers say, ‘Plan well…
Read MoreGood Advice Gives a Superior Outcome
If I had a dollar for everyone who said they wished they had spoken to me prior to the sale of their practice, I would be one wealthy woman. Helping our clients get the best possible outcome is the focus of all our services. And, good advice is the key. I often say when providing…
Read MorePre-planning to maximise succession value
I recently had to tell an accounting practitioner that the value of their equity within the firm was worth less than ten cents in the dollar. Unsavoury of course, but it needn’t be this way. I advised three options that provided a better outcome. Two of these required additional time pre-transaction. This is essential. Taking…
Read MoreOur Firm
Our Firm Rob Knights & Co commenced operation almost 40 years ago under the leadership of Rob Knights. Rob studied accounting, qualifying as a Chartered Accountant in 1971, whilst working in a large firm in Melbourne, which later become part of one of the Big 4. His background was predominently in audit. Our services are…
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