Accurate Financial Benchmarks
Start │ Buy │ Invest
Prevent buyer/successor remorse
Identify industry strongest/weakest drivers Access most accurate industry financial benchmarks & exclusive non-financial KPI data
Formalise a Top Performer Plan
Top 3 Concerns
Where does your practice sit?
1. Net profit per FTE
45% of practices were below budget, after adjusting for notional partner salaries
2. Partner reliance
48% said partner reliance was High or Very High
3. Partner departing with key clients
36% of practices would lose key clients if a partner departed
Most Accurate Industry Benchmarks
Extensive financial/non-financial data: Legal Services
Earnings before interest & taxation (EBIT) as a percentage of gross fees after partner(s) salaries
Average: 17.2%
Fair market value business valuation multiples (sourced from a trusted & reliable business valuation tool) Industry Average: 3.34
Grow │Improve
• Grow specialist services that rely on business valuations - Family Law, Dispute resolution, etc
• Attract ideal clients
85% - consider AI and new tech a threat to services
80% - are improving productivity with efficiency systems & technology
Non-Financial KPI stats
Compare your practice to 70 KPIs, start with these…
55% - struggling to attract and retain experienced fee earners
38% - receive strong word of mouth referrals from their clients
18% - implementing targeted marketing growth strategies
6% - confident their practice & growth prosects were attractive to a buyer
Access resources to target business valuation weaknesses
Attract Ideal Clients
High Value Industries
Industry-niche market specialisations are proven to fast-track profitable practice growth and optimise valuation multiples
Non-financial KPI data, benchmarks, reporting and top concerns infographics can be sourced to understand and engage ideal clients
The data source is growing, 1.77m to 5m benchmarks and non-financial KPIs
Value │ Succession │ Exit
Understand AI risks
Internal succession
Determine your practice current & true value
Manage formal succession planning to grow wealth in & outside your practice
Attain value needed to achieve financial independence
The rapid emergence of AI presents a significant risk to all advisory enterprises
Study the risks to ensure AI can have a positive impact on your practice
Succession Planning
Attract experienced fee earners and future successors
Internal
Succession
Attract with performance rewards Develop professional & business skills Retain with ownership pathways
Motivate fee
earners
Non-cash incentives, flexible working conditions, performance bonuses…
34% of practices are implementing innovative strategies to retain & motivate fee earners
Succession Essentials
Only 49% of Partners are like minded with the same vision
Practice valuation & annual revaluation
Top Performer Plan & sounding board support
Reduce personal goodwill risks
Planned, structured exits
Case Study Personal Goodwill
Who owns your practice clients?
Case Study Insights
“The business had no documented succession plan. Shareholder & staff agreements did not address key succession risks such as personal goodwill. The share sale was deferred.”
Peak Performance Start now!
• Complete a Risk-Profit-Value Driver analysis on your practice
• Why do the analysis?
o Lower risks & secure funding
o Discover profitable growth opportunities
o Identify key strengths/weaknesses
o Leverage the power of non-financial KPIs
• Receive your Scorecard, Top Performer Report & improvement planning action items
Improvement Planning & Accountability Support
Action items to fix high concerns & practice weaknesses
Why Azimuth Partners?
Adding real value: specialist advice & support
Highly respected & trusted advisory practice
Industry thought leaders
Specialists in Law Firm data mining
Most accurate industry financial & valuation benchmarks
Exclusive, scalable AUS/NZ non-financial KPI data
Helping clients become an industry Top Performer
Support gap?
Has your accountant, banker, financial planner, finance broker, law society offered you these data insights and support?
