SOLD in less than 4 months
This long standing firm is located in the heart of Sydney’s CBD with fees forecasted at $680K for FY 2016. Services are representative of general accounting and tax compliance with some 440 lodgements in 2015 excluding BAS. There is a good spread of trust (88), company (52) and SMSF (48) returns in addition to the 243 lodged individual returns, most of whom are linked to other entities.
The average client size for this firm is around $3.6K with only 179 client groups and a top 20 client contribution of 58.5%. These clientele are diverse in age and industry, however many are investment focused and have the potential requirement for more expansive services. The largest client contributed $31K in fees for 2015, whilst some 75% of total revenue originates from $5K+ annual fees and greater.
The clients of this firm are typically well informed, worldly, entrepreneurial, business-minded, and investment oriented, often delegating many of their key decisions to the current principal.
The most significant opportunity within this client base is for the expansion of services including greater advisory type services including succession planning as well as perhaps the introduction of wealth management. That said, a handful of clients have their own financial planners whilst others are very financial savvy.
The ideal purchaser will be a firm with up to 4 experienced partners who are astute and knowledge beyond basic compliance requirements who can engage and become the true trusted adviser to these clients whilst continuing to provide respectful, proactive, quality, personal service.
The retiring vendor is negotiable regarding the transition terms and would ideally desire to see an ongoing employment opportunity for their trustworthy and competent professional personnel.
With the lease expiring at the end of October, the firm is relocatable within the CBD and adjoining suburbs or alternatively the purchaser has the option to renegotiate a new lease with the landlord.
E-mail practicesales@robknights.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.
