Mistakes made with Contractual Agreements

Most of our colleagues and clients will recall our usual disclaimer ‘we are not solicitors and therefore not providing legal advice’. On that note, the following comments are in keeping with this qualification; we are not providing legal advice. Over recent months we have received a number of enquiries regarding Contracts; most are for the Find out more…

Timing Your Exit to Maximise Your Sale Price

We recently completed a round of Boardroom Briefings where one of the sessions was on ‘how to maximise the sale price of your practice’. We felt this was a useful topic because we see so many vendors that could have achieved a better price than they did if they had just done some lead up Find out more…

Acquiring Free Revenue has its Drawbacks

I’ve now spoken with a few firms who have made acquisitions of fee bases below $1 Mill where several clients have multiple years’ lodgements outstanding. Initially this is perceived as a real win or bargain. Often the deal goes something like this. The purchaser pays a reasonably competitive market price for the fees based on Find out more…

Identifying Your Post Practice Identity

In the past week or so, many of us would have seen or read about the latest downfall of the great Grant Hackett. At his peak, he was idolised by Australia at large, he was one of our greatest swimmers and to some, almost a God. But for some time now we have watched his Find out more…

The Importance of Keeping the Vendor as an Advocate

The success or failure of any practice transaction significantly hinges on the ability to transfer client relationships from the vendor to the purchaser. After all, this is essentially what is being transferred, the right to revenue generated from the continued servicing of a group of clients. However, as we all recognise, there is no guarantee regarding Find out more…

Why Planning for Your Platinum Years or Third Act is a Must

We are often asked why the baby boomers have yet to depart their firms. In the professional services industries, there has been much anticipation since the late 1990’s for this time to arrive, and that time is well and truly with us now. Apparently there are some 5+ Mill people in the baby boomer generation Find out more…

Buying & Operating Secondary Offices has Some Challenges

As more and more practices seek to achieve growth through acquisition, an increasing number seem to be considering the purchase of secondary offices located, at times, in significantly different geographic areas that vary from their original location. This can be in a completely different area or even State. This concept is not necessarily new for Find out more…

Securing a Successful Transaction is so much more than Simply Finding a Buyer

With most practice transactions taking place off market and without the services of a practice broker, we are bound to find some parties who felt the transaction was a success, whilst others will no doubt have wished the outcome was better. The sale process is long, detailed, complex, and at times, trying. With experience comes Find out more…

What’s Your Back-up Plan if You Die at Your Desk?

Firstly, let’s acknowledge that this is a terrible subject to discuss or consider, however it’s because of this awkwardness that so many people, including professionals, fail to plan for such scenarios. As our baby boomer generation continue to work longer, we need to be realistic about the likelihood of more practitioners passing away whilst still being Find out more…

Are Valuations Really Beneficial or Necessary at the time of Equity Exchange?

If I had a dollar for every time I was asked what an accounting, financial planning or legal firm was worth, I would be a very wealthy woman. Of course, my reply is generally, “how long’s a piece of string” or “that depends on a number of factors such as ……….”. One of the hardest Find out more…

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