An accounting firm's growth story

Case study

How a QLD accounting firm climbed to the next level

Many accounting firms face a related set of challenges. First, how to efficiently service SMSFs which are often time-consuming, technically complex and reliant on specialised knowledge. Second, how to raise the skill level of junior personnel without burdening senior staff.

The solution for one accounting firm was to engage expert outside help.

The challenge

A well-established Queensland accounting firm was enjoying steady growth — but on the flipside was grappling with capacity constraints.

Much of its new business and a growing proportion of its overall book was self-managed super. Owing to the nature and complexity of SMSF work, the firm, many of whom were at junior level, was struggling to keep pace. The workload was disproportionately shifting to senior staff, who in turn had less time for higher-value client work and internal coaching.

The solution

The firm decided to enlist outside professional help. With expertise and capacity being important factors for the firm, they engaged SuperConcepts to provide two key services:

  • Outsourced SMSF administration – The firm chose our Back-office solution. Here, we did the firm's year-end SMSF processing financials, tax returns and audit  all on a white label basis.
  • SMSF training for staff – The firm chose our SMSF RG146 Compliant Course, nationally-recognised and developed in partnership with the University of Adelaide.

The outcome

What our outsourced admin meant for the firm

  • We relieved the firm of its labour-intensive fund processing work, enabling it greater focus on higher-value activity
  • With our brand hidden from view, the firm remained front and centre with its clients
  • The arrangement proved profitable for the firm, with our wholesale pricing allowing it to capture the retail margin

What our staff training meant for the firm

  • The level of SMSF knowledge and capability within the firm was strengthened
  • Junior staff became more adept with complex SMSF work, easing pressure on senior staff
  • The course equipped participants with the specialist knowledge required to give SMSF advice, broadening their professional opportunities

An accounting firm's growth story

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