CASE STUDIES

Tom, an accountant, had a partnership in a financial planning business with a financial adviser.  The financial adviser wanted to retire and sell the business.

For Tom the major concern was the proposed purchaser was an accounting / advice business and there was a chance the accountant, although he would get paid for the advice business, would loose the accounting clients to the new business.

HNW agreed to purchase the partner’s share of the business and continued to service the clients.  In the 12 months since the transaction:

• No accounting clients have left the practice
• The retiring partner was paid out 100% upfront
• The business revenue has grown as new opportunities were identified
• Profit has increased

Joan has run a successful accounting practice for almost 3 decades and for most of this time has provided financial advice to her clients either with a full or limited authority.

As higher education and Financial Adviser Exam approached, Joan was faced with 2 more years of study where she was only going to work for another 5 years.

HNW formed a joint venture with Joan’s practice, provided Joan with a general advice authorisation and now provides advice services to Joan’s clients with Joan still able to maintain an ownership interest in the clients, is still able to control the business and share in the profits.