Succession Planning

We are passionate about helping financial advisers with their succession planning, at any stage.  

The approaches that can be used for planning your succession include:  

You may already know your option, or know what you will need to do, however broadly speaking you can use external and internal succession planning in the following circumstances.  

External Internal 
No internal successors Willing and able successors 
Want to exit now, not in 3-5 years Profitability to pay for the investment, e.g. decent payback period 
Too large, too high a sale price Management systems in place 
Not profitable with current operations Time to execute  

Please contact our office to have a discussion around how we can help you frame your succession plan. 

About the Author
Tim Lane , Hobart
Tim helps clients to clearly understand where they are at and plan to achieve their goals. His experience is that small consistent incremental change can achieve big results, with extensive experience in the financial services sector and a wide range of business issues and strategies.
Start Your Journey
Are you in the market for an acquisition? Struggling to get to scale and thinking of merging? Trying to solve a succession issue?

Succession Planning

Buying a financial services business can be an exciting time, but what price do you offer and what protections can you put in place? Already in business and acquiring or merging?

Scenarios where Succession Planning is relevant in your Financial Services Business

Accru has been helping clients buy businesses since inception. Our experience is underpinned by:

  • Understanding the true value of your business
    • Hint: it’s not recurring revenue based
  • Offering key adviser’s equity in the business
  • Encouraging employees in an employee share scheme
  • Planning your retirement gradually or immediately
  • Managing a multi owner business with changing equity holders

Why choose Accru

Accru has been helping clients buy businesses since inception. Our experience is underpinned by:

  • Our valuation expertise
  • Our understanding of financial services transactions
  • Our understanding of cashflows in the industry
  • Our understanding of business risks
  • Our understanding of relevant payback periods
  • Our understanding of the ownership journey
  • Success stories and horror stories of succession planning

Planning your future, like you help your clients do

Our team can assist you to understand your options in planning your retirement whether it is now, or twenty years in the future. We have a proven track record of supporting business owners in their succession journey and we use these techniques in our own business, including an Employee Share Scheme and diversifying our equity holders.

To understand our process please contact us.

Related areas

Accru Succession Planning Experts
hobart
Tim specialises in helping clients plan for the future with a focus on maximising business value.
hobart
One of her core strengths is providing end-to-end tax and accounting support to small-to-medium sized businesses with a high focus on driving profitability and value.
hobart
Fiona is enthusiastic about informing and reassuring clients of their financial position, be it in regard to the value of their businesses, or their tax returns.
About Us

Accru is an award-winning network of Australian accounting firms

OUR CLIENTS

“Accru Hobart has supported our business development, due diligence and governance responsibilities for over six years. Our ongoing relationship is a testament to their professionalism, ability to understand our needs and provide specialised, professional support at a competitive rate.”

ABOUT

Our people are naturally experts in their field. With a team of 200 across Australia, you’ll find a myriad of skills to help manage your business and financial challenges.

NEWS

In medicine, the word profit can garner negative connotations. Often, we see doctors who run practices that make hardly any profit.

SERVICE

Improve your business performance and achieve superior return.

ABOUT

Accru is an award-winning network of independently-owned accounting firms in Australia. We help businesses grow, thrive and generate wealth for their owners…

Start Your Journey
Are you in the market for an acquisition? Struggling to get to scale and thinking of merging? Trying to solve a succession issue?

Succession Planning

What will happen to your business when you are ready to retire? It’s important to create a succession plan for the future so that successors can be groomed and you can enjoy the rewards of having built a business.

Family businesses often find they have waited too long to begin planning their exit. Younger generations don’t always share their expectations of work. At the same time, economic and technological change can have unforeseen consequences.

What is succession planning?

Let’s first consider the definition of succession planning. It’s a strategy through which key individuals within a business, organisation or family are vetted and prepared for future leadership positions within the company.

These individuals may be the children of current business owners and operations, but that is not a necessity. Business succession planning could just as easily involve identifying promising candidates within the company who are being prepared to eventually take the reins from the current leadership when those positions become available.

In either case, the succession planning process is always about making the transition to new leadership as seamless as possible.

Expert support and guidance

We assist clients to successfully hand the reins of the business over to the next generation or to extract its full value on sale. Our advisors are experienced in dealing with all aspects of succession planning. They understand the psychology of success, drafting a will and dealing with the ‘dilemma’ of Capital Gains Tax. We can advise you on:

  • Evaluating where a business currently stands in terms of its development
  • Determining how to maintain and improve the value of the business
  • Transitioning management across to the next generation or an external party
  • Valuing the current business, and strategies to improving saleability and maximise value
  • Minimising taxes and transaction costs
  • Locating potential buyers or external management
  • Analysing the potential for a management buy-out, trade sale or public listing
  • Ensuring that accumulated wealth is separately and safely protected
  • Financing the next generation and ensuring that wills are set up to properly deal with the business
  • Structuring life insurance policies and dealing with risk management issues
  • Ensuring retirement is planned and fulfilling.

Security for your business and family

Crafting effective succession planning strategies requires significant legal expertise. Previous experience is also a critical factor. However, because a major shift in leadership occurs only rarely within the average organisation, experience is often lacking. Fortunately, the specialists at Accru have overseen and helped direct this transition for numerous companies – large and small. We have the experience and expertise necessary to ensure your organisation’s leadership transition is a success.

We work through the challenges and family intricacies with you to maximise family wealth for retirement and achieve a beneficial outcome for everyone involved. Our approach helps to make the process of transitioning to a less hands-on role as smooth as possible.

If a change in leadership is on the horizon for your organization, contact Accru Hobart.

About Us

Accru is an award-winning network of Australian accounting firms

OUR CLIENTS

“Accru Hobart has supported our business development, due diligence and governance responsibilities for over six years. Our ongoing relationship is a testament to their professionalism, ability to understand our needs and provide specialised, professional support at a competitive rate.”

ABOUT

Our people are naturally experts in their field. With a team of 200 across Australia, you’ll find a myriad of skills to help manage your business and financial challenges.

NEWS

In medicine, the word profit can garner negative connotations. Often, we see doctors who run practices that make hardly any profit.

SERVICE

Improve your business performance and achieve superior return.

ABOUT

Accru is an award-winning network of independently-owned accounting firms in Australia. We help businesses grow, thrive and generate wealth for their owners…

Accru Succession Planning Experts
hobart
One of her core strengths is providing end-to-end tax and accounting support to small-to-medium sized businesses with a high focus on driving profitability and value.
hobart
Fiona is enthusiastic about informing and reassuring clients of their financial position, be it in regard to the value of their businesses, or their tax returns.
hobart
Tim specialises in helping clients plan for the future with a focus on maximising business value.
Start Your Journey
Are you in the market for an acquisition? Struggling to get to scale and thinking of merging? Trying to solve a succession issue?