In The Beatles Anthology there are a couple of references to accountants. In one, Paul McCartney reveals: "We used to ask, 'Am I a millionaire yet?' and they used to say cryptic things like 'On paper you are.' And we'd say, 'Well, what does that mean? Am I or aren't I?...' It was very difficult to get anything out of these people, and the accountants never made you feel successful." Doubtless, McCartney and the rest of the Fab Four are not the only people who have been frustrated by folks with renown for numbers.
Accountants Jason Cunningham and Rob Hadded, both 37, are the founding partners of The Practice. They first met in primary school (Hadded's first memory of Cunningham is the boy being in charge of the sports room and doling out footballs at play time).
They went on to the same Melbourne high school and studied at university together. This twinned background might be a little unusual for business partners. But Hadded and Cunningham are, first and foremost, mates. Still, the unusual is appropriate because, as McCartney would find were he a client, they do things a little differently at The Practice.
"Traditional accountants are too busy being accountants," Cunningham says. "Our point of difference is going that extra yard. We are really focused on helping our clients out. Helping them purchase property, liaising with solicitors, doing whatever it takes to give our clients what they want."
If you have been frustrated by voice recordings telling you how valuable a customer you are while remaining on hold for the same time it takes to crawl to Pluto, faced with a string of unreturned phone calls or simply sold the wrong product, it can be easy to covet any organisation that makes an art of customer service.
"When we started our business we were 24, our peers were 44 years old," Cunningham says. "They had 20 years more experience than us. We couldn't say we were better accountants. But we had enthusiasm, raw talent and this whole ideal about customer service."
Cunningham is the public face of the company, speaks at investment expos around the country every year and has run GST seminars for CPA Australia, the third largest accounting organisation in the world.
The Practice opened for business in Ascot Vale on December 1, 1997, with a staff of two. In their first year the pair turned over $60,000. Thirteen years later, with over 30 employees, the company will turnover in excess of $5.0 million.
The original two-desk office was outgrown within two years. They moved to a converted chapel in Carlton but growth forced another move in 2003. They are still in Carlton, however, now in the heart of Lygon Street. Our latest move still sees us in Carlton but with purpose built offices and leading edge technology, a far cry from the original workplace.
The growth has been organic up until Alan Bliss joined the partnership of The Practice in September 2009. Bliss Accountants had a number of clients that have been with the firm for well over 35 years who have followed Alan into The Practice, as the business continues in developing long term trusted relationships. “These opportunities may present themselves again, and if the people fit we will continue to expand by rolling in likeminded businesses as we expect to double staff numbers in the coming 5 years” says Cunningham.
With the increasing emphasis in providing more holistic relationships with clients, a Wealth Management division was established in 2004. Initially a small team but now with two financial planners and two support team members, our clients are enjoying the opportunity this approach offers. There are grand opportunities and plans to significantly grow this part of the firm in the coming years.
In December 2005, the Mortgage Broking division of The Practice was established providing relevant and expert appraisal of situations and financing options with a committed approach to excellence sees this division continuing to promote value to an escalating range of clients.
“We really see ourselves as being a wealth creation financial services group,” Hadded says.
We are focused on helping our clients achieve both their business and personal goals. We are about giving our customers what they want in a timely manner. We really explain to clients what we have done and why we’ve done it.
“We have had people come to us and have no idea why their family trust was created.”
There is, not surprisingly, an effortless affinity between Bliss, Hadded and Cunningham. All are natural entertainers, as keen for fun as they are for figures and helping others achieve individual versions of success.
“At the end of the day if Rob, Alan and I weren’t enjoying ourselves, weren’t having fun, we wouldn’t be doing this,” Cunningham says.
All men acknowledge, however, that there have been tough times.
"There was a time (2004) when we weren't having fun and we were questioning what we were doing," Cunningham says. However, it is a childhood bond that bolsters the partnership. Through his business they have continually evolved to meet the needs of clients in today's rapidly changing business environment.
"What helps us work through those challenges is the fact that we have known each other a long time," Hadded says.
"We respect each other's opinions. We've always maintained that the personal relationship is of the utmost priority."
'Customer service' and 'respect' is Hadded, Bliss and Cunningham's mantra. Could this, somewhat ironically, be representative of accountancy's changing nature?
Certainly accountants who live up to the stereotype have no place at The Practice. And the business' growth would suggest this repertoire is bound to catch on. Now, if someone will just let big business and their penchant for voice recordings know.
And maybe you could tell Sir Paul while you're at it.
