Data – Deluge and Decisions | Episode 10 | More than just numbers


Telling the complete financial story in accountancy goes beyond the numbers LubbockFine Chartered Accountants and its global network of independent firms has found that delivering Game-changing business advice is often the result of building strong client relationships, Robin Ross reports Back in the 1950s, Derek Bradshaw owned a Mercedes-Benz car dealership, his son Nick took over the business in the 70s and now his grandson Is also a successful entrepreneur. Designing and producing promotional products for big brands. There has been one constant throughout the generations LubbockFine. A top 50 chartered accountancy practice founded in 1929 I was a one-man band So I’ve worn you know every hat in the company. I’ve done every job and today. We’re way over a hundred people Trading across five offices around the world and really they have helped me through that whole journey They’ve been instrumental in the growth LubbockFine doesn’t just help with tax and accounts it advise on all financial matters helping startups and establish businesses Covering industries from media and medical to technology and leisure Some of us may still remember the old Monty Python sketch about chartered accountants But the times they are changing. Jeff Gitter is a massive Bob Dylan fan. Just like his hero, he believes words connect people The most important thing that an accountant must have in practice is Communication skills the ability to advise and make clients understand what you’re saying in a language that they can understand We are now advisers and I think the word trusted advisor is so important because we are independent We’re not selling anything. We don’t have any access to grind With officers in a prime location right next to San Paul’s Cathedral LubbockFine also partners with 300 officers in 100 countries to provide local knowledge globally With 5,000 staff worldwide in all major financial centers and not so major financial centers Which means that we can provide advice by firms who are like-minded And of a similar size and have a similar attitude. They’ve been there every step of the way And they’ve really been instrumental in helping me look at what my growth strategy was how I could fund that And along the way various questions on How do I set up a company in the US and Hong Kong and what would I do in this region And they’ve always been there to help with all of the questions Businesses are facing more and more scrutiny over their tax affairs and LubbockFine has seen a rise in HMRC investigations They’ve got to squeeze more blood out of the same stone, so that could be a fairly significant event in the clients life You know the fees are not not insignificant the risk from a financial point of view Reputational point of view there’s a name and shame list out there on the internet of people who’ve Sort of caught it on the wrong side So I think it’s important to a lot of our clients to get things right and to get the right advice I think the moral compass here is very strong Yeah, you never get. There’s plenty of ways legal ways that you know tax avoidance can be achieved It’s certainly never something that I’ve done and and I’ve never been advised to do Many of those working here have arrived from university or straight from school. The firm invests in people who like people Simon left briefly for one of the big four but quickly came back because he missed the personal touch. A lot of my clients they will contact me with issues throughout the course of the year And I think that’s only going to happen if you have that sort of a firm relationship And you know the reason they do it is because It eases their worries that they’ve got an extra advisor that they can come and speak to you that can help them Mark Turner has known Charlie for 15 years He regularly sends in relevant news stories and is also executor of his will We’re looking at the whole picture for the whole family So they’ve got their business interest and their will so the personal interests And that’s even down to you know the homes they live in and then also their wealth management’s are looking at their Pensions and investment and saving for tomorrow and retirement and where they would like to get to and then Whether that’s business or personal affairs, It’s mixing everything together. so you looking at the whole picture And Mark may soon be seen Charlie’s, son. My eldest is definitely very keen to be an entrepreneur. He’s made it quite clear age 12 that he wants to be a businessman So I’m sure he’ll be knocking on their door at some point soon

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