Dear Friends,

This website site was set up by one of our consultants back in 2005 after successfully selling his practice a few years ago. He wondered why he had to wait for the Accountants Journal to come out each month before he saw what advertisements appeared either to buy or sell practices or a block of fees.

The wait after submitting his advertisement until the Journal came out was frustrating and filled with a certain amount of anxiety.   And then of course, he had to wait again until he received the responses!

Then there are the increasing numbers of tax agents who are NOT Chartered Accountants.  They may be qualified by experience or belong to an organisation like Taxation Institute of New Zealand. They do not have ready access to the Journal and so feel left out on a limb.

Advertisements for practices or blocks of fees always seem to draw alot of responses. In our experience when one of our brokers sold his Practice, he got something like 16 replies and of those there were six who were serious and completed their confidentiality agreement.

So, there is the background to one of our founders and consultant. Our consultants have now retired from owning their own practices & working fulltime for Accounting Practices, talking to Accountants everyday and doing alot of the ground work in person! As you know its the law of averages " the more you talk to people, a ratio will appear!"  Two of our consultants are all ex Big 4 Partners & have sold numerous practices in their professional career, so they know the angst and heartache this process brings!

Price of sale (and of purchase) of a practice or block of fees is always a talking point. In previous years  the goodwill yard stick was 50c per $1 of fees. Recently this has moved up as the likes of WHK and other consolidators who have moved into the market in both Australia and New Zealand a few years ago.

So the current price is what you make it!   As always there must be a range.   If you have heard David Connell from Anzam speak you will have heard of the very high prices of practices that he relates in Australia.

In our view it is the fee earning (and so net profit) potential that you should consider. Clients in my experience are loyal and will stay with a new owner and will also give him/her the benefit of the doubt before they decide to leave.

Remember, there are always people looking to buy and/or sell accounting fees! The holiday season is often a particularly good time as tired practitioners do not want to come back and restart the grind!

So, our site is still being modified and polished.  We will be launching it through various data bases in the New Year.  However we have been extremely gratified with the number of registrants so far without any publicity!!

We will still be doing monthly updates on the market etc

We are more than happy for you to ring/email us to discuss buying/selling/merging or needing Partnerships in the interim.

Please also be aware we do have an Executive search team if you are in need of a Top level Accountant(s). My own record speaks for itself when it comes to sourcing Top talent for Auckland firms & on a  nationwide scale!  

I talk to key people in firms  everyday so I know the market well!

CA  firms we work with range from your Big 4- Sole Director type firms.

We are here to help you!!

With all good wishes
The Accounting Practices Team

"NZ's premier Brokerage and Executive Search team for Accounting Practices"

PS Lastly please let all your professional colleagues know about this site so we can build number and reach a wider audience!