There seems to be a growing concern from many of our Accounting Clients about emails received from "rookie" agents trying to specialize in the Buy/Sell/Merge aspect of accounting practices. Let’s be clear and frank here, not only do you need to be a licensed agent, you also need to talk, walk and understand the CA market. An expert Broker will understand it is a different ball game all together.
You can't 'fib" your way through accounting talk when it comes to brokering accounting practices.
Hopefully this provides clarity below, the CA market requires experts that add value and not more sales people trying to proclaim they are experts in brokering, yet lack the skill set required in this sensitive market!
We all know owning a Practice is sensitive, emotional and requires time to discuss this with an expert! That is why at Accounting Practices, we have brokers that have skin in the game and can advise when they acquired, merged or sold!
This year has already been another dominant year for our brokering team!
Our executive search team continues to thrive in placing high end Accountants in firms also!
Do I need to sell or buy ( Accounting Practices) through a licensed Broker?
Under the REAA regulations it states that you need to be a licensed broker to sell accounting practices.
Sure selling privately does not require a license, however when you are advertising on behalf, soliciting business to sell etc you do fall under the REAA and a license is required.
Why use a licensed Broker?
A licensed broker first and foremost is required to sell accounting practices, solicit and advertise etc
- A specialist broker in the Accounting field would have specific industry knowledge and experience of the overall market.
- Many Partners, Firms whilst they may have the knowledge of running a practice, they do not all have the innate skills needed to be a successful broker, trust me we have looked at this.
- Brokers must be more sales and business development focused
- Good understanding of the metrics and various levels set in understanding an accounting practice.
- It takes skill to negotiate two parties towards a successful outcome, it also reduces unnecessary stress for the vendor if they tried to sell privately
Put it this way,
When you use a specialist broker to sell your accounting business, rest assured you would get a near perfect match not just in the money wanted, but also in the culture/personality, location fit etc etc
Cold calling, building up our data base, follow ups, market trends, negotiating, market experience etc is part of our everyday work cycle.
Most Accounting Practices would shy away from cold calling so leave it to the experts- Accounting Practices ( 110% focused in Accounting Practices nationwide)
A Director of Accounting Practices
firstname.lastname@example.org 022 0432 880 OR office main line 09 363 9584