National Property, Business Tax Accounting and Wealth Advisory Group Chan & Naylor yesterday officially launched its South Australian headquarters in the State’s CBD. This is the third office that Chan & Naylor has launched in the State in less than two months on the back of the firm also announcing its fourth Joint Venture Partnership of the year with Shugg Group, which has a presence in Victoria and South Australia. The occasion was formally celebrated at a special evening event attended by special guests including Steven Marshall MP, State Liberal Leader for South Australia.
“Industry consolidation and the emergence of several large sovereign players is a genuine concern for independent accounting firms and their clients,” said John Harriott Group CEO of Chan & Naylor. “In direct response to client demand our intent is to provide a holistic one-stop accounting and financial advice service in more major metropolitan and regional centres around Australia. We thank our SA clients for their support and are thrilled to now have a presence in Adelaide, Murray Bridge and Berri to better serve them.”
In addition to Chan & Naylor’s complete portfolio of services, the firm’s new Adelaide office will also offer a dedicated business advisory service. As well as providing business accounting, development and structuring services, the business advisory team will offer practical advice to help improve clients’ broader commercial acumen and potential for success.
“Business conditions continue to be challenging nationwide and certainly this is the case for the 140,000 small businesses that operate in South Australia,” said Mr. Harriott. “In addition to Federal and State policy, which should be applauded when it incents business and boosts employment, there are many practical means that small businesses can implement to build a competitive advantage and our accounting firms are in place to fulfill our responsibility to step up as trusted business advisors to meet these diverse and important needs.”
Mr. Harriott encourages small business owners to become more ‘business-centric’ in their commercial approach as opposed to simply being subject matter technicians. He also recommends that all business owners be encouraged to improve their financial literacy to better understand the taxation, asset protection and estate planning structures that are available to them.
“Chan & Naylor is a shining light in an otherwise tough environment for business in South Australia,” said State Liberal Leader Steven Marshall.
“Chan & Naylor’s commitment to metropolitan and regional South Australia should be applauded – this is a real success story for South Australia.”
Chan & Naylor’s new Adelaide headquarters located in Suite 13, 300 Gilles Street – is in part a result of the firm’s Joint Venture Program and formally brings together the union of Peter Appleyard & Associates and Shugg Group (which also has a presence in Victoria), with the latter being formally announced today.
Recent partnerships with Shugg Group and Appleyard & Associates now sees Chan & Naylor having two regional Victorian offices (in Mildura and Robinvale) and two in South Australia (Berri and Murray Bridge) which further strengthens their ongoing commitment to country Australia.
Established in 1999, Shugg Group provides specialist accounting and advisory services to small business clients and a broad range of services including SMSF, trusts, auditing, wealth creation, management consulting and financial planning. The firm’s business advisory strength will be leveraged to the entire group through a newly established entity: C&N Business Advisory.
“Being able to draw on Chan & Naylor’s national brand gives us a point of difference as well as access to expertise and resources small firms are just not in a position to acquire alone,” said Philip Shugg, Director of Shugg Group.
The attraction of a strong national brand was also appealing for Toni Easterbrook, Director of Shugg Group Mildura.
“While we are still the same recognisable and trusted local firm to our clients, access to Chan & Naylor’s central IP and broad potential for future business growth and succession planning make this new partnership a win-win,” said Ms. Easterbrook.
Chan & Naylor’s partnership program offers multiple benefits including: centralised marketing support, a proven operations system, outsourced IT, HR, regulatory support; access to CN Academy, expert financial planning and financial strategist capabilities within the Group.
In addition to becoming part of a recognised national brand, growing their own company’s value and better enabling the Firm’s Principals to evolve their succession planning strategy, partnering with Chan & Naylor provides independent accounting firms with a wide knowledge base and exclusive access to unique products including Property Investor Trust® (PIT®), Business Enterprise Trust™ (BET™) and the Enduring Family Superannuation Fund™ (EFSF™).
“Less than a year into our go to market strategy Chan & Naylor continues to be in a position to offer firms the opportunity to consider joining a national brand in a joint venture arrangement. This is based on CN investing in an equity share and driving mutual growth whilst the recently joined firm retains operational control of their business and client engagement,” indicated Mr. Harriott.
Mr. Harriott today also announced the launch of the Chan & Naylor Foundation. This facility will be available to any client or employee of Chan & Naylor nationwide and to third party philanthropists who have considered making a donation but have held back due to uncertainty regarding the most practical and efficient manner in which to do this.
“Australians sincerely want to give. This is particularly the case with many who have achieved financial success with our assistance,” said Mr. Harriott. “We are proud to have been able to set up and professionally direct the Chan & Naylor Foundation to assist our staff, clients and fellow Australians to donate should they so wish and in so doing assist local communities and charities around Australia to fulfill their full potential”.
The Chan & Naylor Foundation has been established with a mandate that allows donors to either select the charity they wish to contribute to or alternatively enable donators to establish their own sub-account embracing all tax deduction benefits as a component of the wider Chan & Naylor Foundation.