DMY Associates
Retention - What You Need to Know, Reminder New Practice for Sale
DMY Associates

Welcome to this week's Market Update. 

Firstly, as a reminder, we have listed three great practices earlier this month:

Bookkeeping Melbourne Inner East 632,000 fees (ID#273)

Accounting and Bookkeeping Melbourne South-East $1,163,000 fees (ID#257)

SMSF Audit Brisbane $302,000 fees (ID#269)

Interestingly, not one of them is a "vanilla" accounting practice. An ongoing trend over recent years is the increasing range of specialty and mutli-disciplinary practices coming to market, which we expect to continue. If either of the two Melbourne practices look like a good fit, don't delay in registering your interest. For the Brisbane SMSF audit practice, this has moved very quickly and the Vendor is already moving to Heads of Agreement discussions after less than a month on market.

A core part of our purpose at DMY is to help educate the market on successful ways to buy and sell practices. We spend a lot of time speaking about this with practice owners either 1:1 or at various industry events. Not surprisingly, many of the questions we are asked follow a similar theme so we have decided to share the most common ones, together with our responses, in these Market Updates over the coming weeks and months.

Our first subject in this new What You Need to Know series is Retention, where we deep dive into all aspects relating to this critical element of any practice sale or purchase including: 

  • What is retention? 
  • What is its purpose?
  • How does retention work in practice?
  • How is the percentage determined?
  • How long is the retention period?
  • What is included in the retention revenue?
  • How can Vendors help secure their full retention payout?
  • What retentions are we seeing in the market?

You can access the article here: Retention - What You Need To Know. It's a valuable ten minute read for anyone serious about successfully selling or buying.

We have plenty more topics coming up in our What You Need To Know series. Next time round we will be looking at The Changing Role of the Vendor Post Sale. 

See you out there!

Mark and Daniel,

DMY Associates
DMY Associates

1 Principal firm, Mornington Peninsula $1,000,000 in fees (ID#98) - sold 08/23

1 Principal firm. Melbourne $372,000 in fees (#259) - sold 08/23

1 Principal firm, Melbourne Inner North fees of $1.040,000 in Accounting and $200,000 FP (ID#218) - sold 07/23

1 Principal firm, Melbourne - Inner North $560,000 in fees (ID#243) - sold 07/23

2 Partner firm, Melbourne South $1,200,000 in fees (ID#226) - sold 07/23

1 Principal firm,  Regional Gippsland Victoria $1,300,000 in fees (ID#162) - sold 06/23

1 Principal firm, Melbourne Inner South East $630,000 in fees (ID#57) - sold 05/23

1 Principal firm, Melbourne Inner Suburbs $430,000 in fees (ID#200) - sold 03/23

1 Principal firm. Melbourne East Fees of $448,000 Accounting and $294,000 (ID#209) - sold 02/23

1 Principal firm,  Regional North Victoria  $1,132,000 in fees (ID#199 - sold 01/23

1 Principal firm, South Melbourne $620,000 in fees (ID#204) - sold 11/22

2 Partner firm, Melbourne Inner Suburb $1,500,000 in fees (ID#168) - sold 09/22

1 Principal firm, Regional North East Victoria Fees of $433,000 in Accounting and $62,000 Financial Planning (ID#151) - sold 08/22

1 Principal firm, Melbourne West  ~$700,000 in fees (ID#122) - sold 05/22

1 Principal firm, Melbourne North  ~$300,000 in fees (ID#127) - sold 03/22

1 Principal firm, SE Gippsland ~$430,000 in fees (#SM401) - sold 01/22

1 Principal firm, Melbourne Inner South East ~$555,000 in fees (ID#123) - sold 12/21

1 Principal firm, Melbourne South East ~$1,360,000 in fees (ID#116) - sold 11/21

1 Principal firm, Regional NE Victoria ~$1,000,000 in fees (#SM427) - sold 11/21

1 Principal firm, Geelong region ~$495,000 in fees (ID#117) - sold 10/21

1 Partner firm, Melbourne CBD ~$1,250,000 in fees (ID#96) - sold 09/21

 1 Principal firm, Melbourne South East ~$540,000 in fees (ID#105) - sold 06/21

1 Principal firm, Melbourne Inner North ~$360,000 in fees (ID#413) - sold 06/21

1 Principal FP firm, Mornington (#SM403) - sold 07/20

Melbourne/National bookkeeping practice ~$1,100,000 in fees (#SM404) - sold 06/20

1 Principal firm, Melbourne Inner North ~$800,000 (#SM417) - sold 12/20 

1 Principal firm, Melbourne SE Suburbs ~$636,000 in fees (#SM402) sold 12/20

Phone: 03 9448 2308

Sydney: 903/50 Clarence St, Sydney NSW 2000 
Melbourne: Level 8, 805/220 Collins St, Melbourne VIC 3000 
Brisbane: 9/204 Alice St, Brisbane QLD 4000
Adelaide: 3/55 Gawler Place, Adelaide SA 5000

Copyright DMY. All rights reserved. Any unauthorised use or duplication is prohibited.

Sent to [[Customer\PrimaryEmail]]

This email was sent from Sonia Xerri to < >
If you'd rather not receive future emails from Sonia Xerri click here to unsubscribe.