Accountants and Financial Advisers – can you derive value from work you don’t do?

Jason Cook, Director, Integrate Finance, Woolloongabba, Brisbane Qld.

I’ve been in and around professional services for well over a decade now; and, over this time, I’ve come to realise that whilst Financial Advisers and Accountants offer a defined set of services, it is possible to derive value from work you don’t do.

My personal experience is that my clients enjoy when I make them money; save them money; and, educate them on how to do the same next year, and into the future. Early on, as I started digging through financials and statements for clients, I quicky noticed opportunities arise frequently for instant savings just by structuring debt differently, refinancing to a better deal; or indeed, just asking for a better deal. Once I started making this a habit, I was seeing clients making savings regularly of between $3,500 per annum (p.a.) to $5,500 p.a; and, at the extreme, we get the occasional $15,000+ saving p.a. Many of the clients were saving more on this process than they were paying me in annual fees, and they thanked me for it; often.

The process was easy; all I did was pay some attention to their debt position and pricing (which I was obligated to do as part of the financial planning process), have a basic understanding on what current best pricing was, and refer to a competent Finance Broker that I trusted in this space. It was, after all, what a competent Financial Adviser and/or Accountant would, or should do, to improve the client position. Clients love to save money as much as they do to make it — it was an easy value-add, and I’ve not stopped doing this since.

Integrate Finance was set up with this value-add in mind. We deal only with professional services providers and offer a ‘ring fence’ around your clients so that all finance-related matters are shared with the primary Accountant/Adviser, and referred back through this channel as return opportunities present themselves. It’s a cost-free value-add, with you at the centre of the relationship. The kicker is, you’ll no longer come across situations where your client has borrowed money in the wrong entity or borrowed where they shouldn’t have, as you’ll now be kept ‘in the loop’.

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