Success Insights

Neil Sinclair
WK Advisors and Accountants
New Zealand

Sticky, actively engaged clients

Within four months of launching their Business Advisory Services, fee growth and opportunities being created for WK was ‘miles ahead of expectation’ according to Director, Neil Sinclair.

‘Our advisory offering has a number of elements to it, but one of the key foundations is an organisation called Mindshop, who want to truly assist their clients by offering deep advisory solutions, this is not the cookie cutter model offered by others. Now all trading clients get an element of advisory in their annual compliance services, basically every client is walking away with a load more value. We now have incredibly sticky clients, clients who actively engage with us more and the organic fee growth opportunities coming from this is amazing. What Mindshop has provided us is the tools and confidence to essentially smash the traditional compliance model.’

Practical approach, tangible outcomes

‘The most exciting aspect to me is having the tools to really add value. Good example, last week I signed off a set of books from a retail business. Their margins were down following the purchase of another business. Previously, I would have highlighted this to the client in the annual meeting, had some general discussions about how they could improve, the client would have left, probably done nothing and we would repeat the cycle the following year. This year I ran a ForceField workshop, the result – the client walked away with 16 tangible actions to improve his margin, the client’s staff are on board and motivated to help achieve the target. WK now is engaged to do a quarterly business review and accountability meetings, and full management reporting. More than quadrupling the fees charged!

This I truly believe is game changing stuff.’