Succession Planning: For Owners of Financial Planning and Accountancy Practices

Written by Jon Glenn Thursday, 30 April 2009 17:01

The first in Professional Planner’s independent practice management program, the Succession Planning series examined the key issues to be considered when thinking about exiting your business or buying another one.

Tailored to owners of planning and accountancy practices, the series took place over three weekly lunchtime sessions, broadcast via the internet.

Drawing on the expertise of our guest panellists, the series offered insight from a technical perspective, along with real-life examples from planners/accountants that have been through the sale and purchase process.

Program and scheduling details are as follows:

PART 1 – PLANNING AND PREPARATION

download for offline viewing (right-click and click 'save as')

The first part of the series examined the planning process and steps to get the business in shape - including your timeframe, maximising business value, due diligence, valuation and negotiation.

Panelists:

Simon Hoyle – Editor, Professional Planner
Andrew Moylan – Consultant, The Encore Group
Scott Brouwer, CFP - Senior Financial Planner, Outlook Financial Solutions

PART 2 – GET READY, HERE COME THE TYRE KICKERS!

download for offline viewing (right-click and click 'save as')

A poorly structured sale can cost everyone money – buyer and seller alike. Part 2 examined the important tax and legal issues to be taken care of, including tax efficiency, structuring the deal, contracts and completion.

Panelists:

Simon Hoyle – Editor, Professional Planner

Martin Checketts – Partner, Corporate Advisory, Mills Oakley Lawyers

Anthony Carafa – Director, Dobbyn & Carafa

PART 3 – FINANCING ARRANGEMENT

download for offline viewing (right-click and click 'save as')

The third and final session examined the financing options around the transaction, funding options, choosing a partner, preparing budgets, security requirements and what a well structured deal should look like.

Panelists:

Simon Hoyle – Editor, Professional Planner

Ian Anderson – Financial Planning Banking, Commonwealth Bank

Thomas Ilinkovski - Managing Director, Insight Financial Services Pty Ltd

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