A longstanding, established practice combining both financial opportunity and lifestyle well suited to a purchaser in search of a sea change or for a firm wishing to cement their services within the Clarence Valley.
This firm, with fees circa $1.1 Mill, offers the complete suite of accounting and financial planning services including personal taxation, business accounting and advice, SMSF, financial planning, auditing and assurance, administrations and investigations, estate planning and business succession. The firm is community driven with its partners committed to servicing the local region for almost 40 years. The firm’s regionality benefits the continuity of its operations whilst also offering growth opportunities through the expansion of some already established services.
Many clients have been serviced by the firm for in excess of 25 years, and where such clients have transitioned to retirement, they have been retained through the provision of financial planning services. New and younger clients also continue to be attracted to the firm providing an overall stable client base. The type of industries serviced are diverse ranging from government to real estate, transport, investment and business clients, audits of registered clubs, nursing homes, schools, trust accounts, child care and harvest co-operatives, in addition to numerous clients in primary industry.
Tax lodgements for the 2016 tax year were in the vicinity of 1,550, predominately represented by individual returns contributing approximately 26% of fees, companies with 19% of revenue, and super funds equating to around 13% of income. The average lodgement fee for the period was slightly above $650 per return. Financial planning is also the source of some 11% of the firm’s annual revenue.
Revenue is spread fairly diversely across the fee stratas of the firm with a solid contribution from clients ranging from $3K – $20K per annum. Client groups number just under 800 with an average client size of around $1,200 per annum.
The top 20 client groups contribute some 21% of fees overall with the largest client around $23K in FY 2017. The location of most of these clients tend to the mirror that of the firm’s offices.
A senior partner of the firm wishes to retire and the remaining partners also wish to reduce workloads, thus the practice is being offered for sale as a whole. However, the majority of the partners wish to remain on for an indefinite period of time as employees and the retiring partner is also willing to be available to assist with a transition for 12 months, or perhaps beyond specifically to assist with the audit work on a part-time basis. The location of the firm and its offices tend to require continuity at their current premises, perhaps apart from an amalgamation with another local firm. Leases are currently in place in some instances.
E-mail broking@robknightsbroking.com.au to request a confidentiality agreement or phone (02) 9233 4333.
The completion of a confidentiality agreement is essential prior to the supply of any information.
