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Your 2025 Resolution Must Be To: Get Digital Advice & Guidance For Your Business
The advice affordability problem is well documented: The majority of Australians know they need advice, albeit they have simple requirements given their financial circumstances, but only a small percentage of the population can actually afford to pay for the rising cost of personal comprehensive (multi-topic) advice. So, what’s being done to solve this problem?: Why…
Read MoreLaunching Business Advisory Services: An Actionable Blueprint for Your Accounting Firm
Accounting firms are in a prime position to expand beyond traditional services and offer valuable business advisory support. Many businesses actively seek this guidance but may not realise their accountant is ideally placed to provide it. With comprehensive financial data at your fingertips, your firm can offer strategic guidance that goes well beyond compliance and…
Read MoreStrategic Planning for Your Accounting Firm
In today’s fast-evolving accounting industry, driven by technological advancements and generational shifts, staying relevant and competitive requires regular strategic planning for your accounting firm. By continuously assessing and refining your approach, your firm can provide up-to-date services while positioning itself ahead of competitors. The Importance of Flexibility in Strategic Planning Flexibility is key to effective…
Read More2024 Marked a Turning Point for Digital Advice
The landscape of financial advice is evolving rapidly, and 2024 marked a significant milestone in the adoption of digital advice solutions. With increasing demand for accessible and affordable financial services, accounting firms and financial planners have embraced digital advice as a powerful tool to enhance client offerings and drive business growth. As we step into…
Read MoreNew Year: Time for Client Engagement
For as long as I’ve been in the accounting profession, most firms I’ve worked with or spoken to acknowledge there are additional services they could provide to meet unmet client needs. In fact, many estimate they could generate 20% more in fees by tapping into these opportunities. Yet, many firms fail to unlock the opportunity.…
Read MoreCapacity? What capacity?
In many firms, the challenge continues to attract and retain star performers. Many are struggling to have sufficient capacity to complete their known work in the pipeline, let alone sufficient free resources to develop and deliver new services. Attitudes don’t help, either. I was recently in a firm where the partners were quite proud that…
Read MoreHow Digital Advice Can Be Used To Engage With More Clients
The problem in today’s advice market: We all know that the great majority of working Australians cannot afford the increasing cost of traditional comprehensive advice. We call that the ’advice affordability gap’, and it impacts approximately 10.4 million working Australians who have unmet advice needs. As well as these unmet needs, we know: The solution…
Read MoreThe Importance of a Strategic Plan for Accounting Firms
In recent weeks, I’ve had the pleasure of connecting with numerous accountants at various events, in particular, the Smithink 2024 Young Guns Workshop on the Gold Coast. One startling observation keeps surfacing: many accounting firms lack a recent strategic plan. Given that these firms help clients navigate their strategic pathways, it’s perplexing that they often…
Read MoreWhy is my AI behaving like a toddler?
I was so excited. The answer to all my questions, the increase in my efficiency, the road to a better life, was right before my eyes as I fired up the latest AI marvel. Why am I both amazed at what it can do for me and equally disappointed at the same time? Why does…
Read MoreAccountants should be key providers of financial advice
“I’ve been lucky to get some good overtime, but I’m being taxed quite a bit. Should I salary sacrifice into my partner’s super? Debt recycle? Or just stay the course with working, saving, and paying down the mortgage?” This is the kind of question accountants are frequently asked. And naturally so. Accountants are among the…
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