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Accountant Financial Planner JV- creating client value & driving growth
Sherhan Fernando, ASVWadeson Chartered Accountants, Mt Waverley
By: ASV Wadeson
A trend that is gaining momentum is collaboration with providers of complementary advisory services. Specifically, structured alliances or JVs with Financial Planners that drive business growth and success for practices that understand the need to change with the times.
Although time poor HNW clients and SMEs expect a one-stop-shop approach from their Accountant that goes beyond compliance related services – the reality is it would be impossible to do so.
To provide a full suite of services that includes financial planning requires multiple licenses and registrations;
As an accounting professional, creating value for individual clients (including preserving / enabling transfer of wealth); supporting SMEs operate their ventures more efficiently and implementing exit and succession strategies is what we do best with our skillsets – and this should be our function as Accountants and Trusted Advisers.
Hence, Accountants first need to understand that the days of 'I refer you and you refer me' are gone and a much deeper alignment, commitment and structure is required to provide clients access to professional financial planning services.
Our ASVW Accountant-Financial Planner JV commenced this year and benefits in terms of value-add services, client experience, satisfaction and appreciation were realised almost immediately.
The reason for the success is that by joining forces and combining knowledge, experience and expertise enables the delivery of superior value add services, benefits and outcomes.
For clients, the JV provides
- A comprehensive service offering
- Process simplification
- Seamless engagement and billing regime; and
- Greater trust and certainty
I have been in the accounting profession for nearly two decades and just over two and half years ago joined the ASVW partnership team to acquire a boutique accounting practice and operate under the group.
Since acquiring the practice, my goals were to deliver value to clients and drive sustainable growth in the business; staying true to our core strengths and values. We've been able to achieve both outcomes by providing consistent level of client support and adding value through analysis and insights to protect and grow clients' financial well-being; driving business improvement for SMEs; and implementing robust exit and succession strategies for business owners.
The financial planning JV has fast tracked the realization of those objectives and the practice now provides clients with a service experience that reflects the times we are in.
ASV Wadeson www.asvwadeson.com.au
Joe Perri & Assoc
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