About Allan McKeown: Prosperity Advisers

Allan McKeown is the CEO of Prosperity Advisers. He has over 25 years experience providing business growth advice, corporate assurance, and strategic taxation services to a range of business clients. Asset Magazine has rated him as one of Australia’s “Magnificent 7” Financial Advisers and he has extensive experience as an independant Director of businesses in a number of industries including Power, Ports, Banking and Professional Sport.

Prosperity wins Advisory Firm of the Year Award

Prosperity is delighted to confirm that the firm has secured the prestigious Hillross Financial Services award for Advisory Firm of the Year. Highly sought after, this award recognises the firm’s overall professionalism, operational excellence, superior client service, advice delivery and implementation.

Allan McKeown, CEO and Founder of Prosperity Advisers Group said, “To win the Advisory Firm of the Year is wonderful recognition for the tremendous effort our team has demonstrated showing ongoing excellence in providing personal financial advice as well as a clear passion for clients. We are very proud of the collective efforts of our people across our Newcastle, Sydney and Brisbane offices.”

Independent client research through the Beddoes Institute was instrumental in deciding the award winner as was demonstrating a commitment to ongoing excellence in providing personal financial advice, robust and high quality advice processes and a clear and demonstrable passion for clients.

At the ceremony the firm was also recognised again as a leading advice practice securing its status as a member of the Elite Strategist Group among Hillross licenced financial advice firms.

Senior appointment locks in Prosperity’s Lending Growth

Prosperity Advisers Group is pleased to announce the appointment of Alex Warian as Head of Lending and Leasing.

Alex Warian joins Prosperity following strong growth in the multidisciplinary advisory firms lending services. From a meagre start Prosperity has settled over $30M in loans in the last six months. Recently in a Head of Equipment Finance role, Alex had also previously spent 19 years at Macquarie Bank. There Alex held various senior positions, the most recent one being Division Director: Head of Professionals Bank, Business Banking, where he established new stand alone segment strategies, setup distribution for a new lending offering as well as promoting and championing insight driven events.

Alex said he is looking forward to the challenge of further developing Prosperity’s lending offering and said his decision to move was driven by the opportunity to be a part of the firm’s growth and innovative business model.

“I am excited to be part of the Prosperity team and a firm that is progressive and innovative in its thinking in its approach to client services and its people.” he said.

“Prosperity’s Sydney, Newcastle, Brisbane, east coast footprint and our 4,000 direct and over 20,000 indirect clients provide an exceptional opportunity for lending.” he added.

Prosperity Advisers CEO, Allan McKeown said, “Alex’s appointment reflected the firms drive to further grow the lending offering and was an exciting move for the expanding division.”

He added, “Alex’s impressive experience and knowledge will be a great asset for our clients, and will serve to strengthen and broaden our advice capability in this specialist area.”

Growth creates opportunity at Prosperity

Double digit growth has been the catalyst for the announcement of six internal promotions.

Alex Hardy from the Corporate Assurance team has been promoted to the senior role of Associate Director. Alex has progressed through the ranks since he started with the firm in 2006 when he commenced as a Trainee Accountant. The Directors of Prosperity are delighted to have him as a member of our Director Group.

Alex is also the Treasurer of the Hunter Young Professionals group and was recently appointed to the inaugural Youth Leadership Committee with the Institute of Internal Auditors – Australia.  He was recognised at the NSW Business Chamber Regional awards this year as Young Business Executive of the Year and was a finalist in the State Awards for the Chamber.  In 2016 Alex was also recognised as Rising Star at the Australian Accounting Awards.

Sascha Kass from the Marketing team has been promoted to Manager. Sascha has been a strong contributor to Prosperity working across the divisions to build the firms profile through various marketing and communication strategies.

Harry Charalambous and Zoe Wright from our Business Services and Tax team have been promoted to Supervisor. Ben Hailstone has also been promoted to Senior Accountant.

Sally Wilson from the firms internal Finance team, has been promoted to Assistant Accountant where changes in the team have allowed her to participate in more analytical style work.

Chief Executive, Allan McKeown said, “Our goal at Prosperity has always been to foster an environment that supports the growth and development of our people. We provide challenging professional experience and deliver the right tools and support to assist our people to drive their careers forward.”

Research reveals critical risk concerns for SME business owners

Understanding and managing risks sits squarely at the centre of this year’s annual SME Research Report covering the attitudes, practices, ideas and concerns of more than 500 SMEs operating across Australia.

Now in its third year, the Report provides a comprehensive picture on the core concerns for SME owners with Business Planning (#1), Protecting the business and family assets (#2) and Stress and lifestyle (#3) as the standout areas of greatest concern.

Click here to access the 2017/18 SME Research Report provided by Prosperity Advisers Group.

98% of business owners believe there are opportunities to grow their business however many cite barriers to growth which make realising this opportunity highly stressful.

Only 20% of those researched have any form of business plan and perhaps more concerning is that 73% of SME owners believe that their business could not continue to operate without them. So while business owners haven’t labelled succession planning as a core concern (perhaps due to a lack of understanding about what it means), the fact they don’t believe their business can exist without them is stressful, affects their lifestyle and importantly presents problems for protecting the sustainability of their business as well as their family assets.

All three of the top concerns in this year’s Report are strategic issues which are intrinsically linked and are associated with identifying and managing risk. This is in stark contrast to the issues identified by the research three years earlier where SMEs cited cashflow and profitability among their top business concerns.

CEO and Founding Partner of Prosperity Advisers Group, Allan McKeown says, “We should all be concerned about the future of SMEs in this country. At Prosperity we are helping hundreds of business owners to address their risks – whether financial or strategic – so they can shore up the sustainability of their business and reduce their stress. As the largest employer in Australia, SMEs are the lifeblood of this country so if we don’t help this sector to succeed for future generations then the flow on will directly affect the economy as a whole.”

Unsurprisingly business disruption through technology, the changing buying practices and preferences of consumers, and access and retention of the right resources are all factors which have contributed to the changing needs and issues for SME business owners.

Providing the ‘how’ for SMEs is a key feature of this year’s Report with ideas for what business owners can do to gain greater control, and to grow and improve their business so they can transition and exit on their terms.

Strategic business adviser for SMEs and Director of Prosperity Advisers Group, Siobhan Sellick says, “Embarking on a ‘better business program’ immediately eases the pressure on business owners and their families because it deals with the top three issues raised by the SME Research Report. When I work through strategic planning with my clients there is a sense of relief and a new found enthusiasm for the business and for their future. Not only this, but my clients experience far better financial outcomes too – so it works on many levels!”

For more information please contact:

Siobhan Sellick, Director Prosperity Advisers Group, 02 8262 8700

Allan McKeown, CEO Prosperity Advisers Group, 02 4907 7222

 

About Prosperity Advisers Group
Prosperity Advisers Group is an award winning chartered accounting, business advisory and wealth management practice. Clients partner with Prosperity for strategies and techniques to minimise taxes, maximise profit, drive growth and build or protect their personal wealth.

About the 2017/18 SME Research Report
Businesses valued at between $500k and $10 million are classified as SMEs for the 2017/18 SME Research Report. The Report draws on insights from face to face interviews and surveys with SME business owners across Australia.

Double Accolade for Advisory Firm

Prosperity Advisers selected as national finalist in two categories of the 2017 Hillross Financial Services Awards.

Prosperity Advisers is delighted to confirm that Hamish Landreth, Financial Adviser has been selected as one of three national finalists in the prestigious Hillross Financial Services award for Adviser of the Year. This significant achievement recognises Hamish’s genuine commitment to his clients by making a tangible difference in their lives. Prosperity Wealth Advisers Director, Gary Dean won the award last year.

Prosperity Advisers has also been selected as one of three finalists for Advisory Firm of the Year. The award recognises overall professionalism, operational excellence, superior client service, advice delivery and implementation.

Allan McKeown, CEO and Founder of Prosperity Advisers Group says, “We are very proud to have Hamish as part of the Prosperity team and are delighted that his hard work, knowledge and passion for his clients has been recognised.”

“We are also very proud of the collective efforts of our people across our Newcastle, Sydney and Brisbane offices. To be announced as a finalist in the Advisory Firm of the Year is a wonderful recognition for the tremendous effort our team has demonstrated showing ongoing excellence in providing personal financial advice as well as a clear passion for clients.”

The winners will be announced at the AMP National Advice Summit in Sydney, 17-19 January 2018.

Prosperity adds SME specialist practice

  • Supplements stellar growth in Brisbane practice
  • Holistic service offering key attraction
  • SME sector not well served

Roger Ng & Co – a specialist SME Brisbane-based Accounting & Tax practice has joined the Prosperity Advisers Group.

The SME sector is the engine room of the Australian economy and Queensland has a burgeoning small business sector. A key client group for both Prosperity Advisers and Roger Ng & Co, the SME sector features prominently in Prosperity’s growth plans. Joining forces means greater access for Roger Ng & Co clients to an expanded group of services and is a boost to Prosperity’s SME and private client network.

Combining the long history of both firms in delivering quality accounting, tax and advisory services in the Queensland market made a lot of sense for Prosperity Advisers’ Founder & CEO Allan McKeown, “We’ve experienced double digit growth at our Brisbane practice in each of the last four years including 12% year to date, so when the opportunity arose to merge with Roger Ng & Co we were excited by the prospect.”

Prosperity is a leading adviser to SMEs and HNW families with specialist teams in the Medico and Hospitality sectors and possessing a well-resourced Asia Desk. Expanding its client base in each of these areas is a key factor in its growth plans. “Our project to build the Advisory Firm of the Future involves embracing technology changes in order to advise clients using the latest thinking. Being a progressive firm was attractive to Roger Ng & Co and we welcome the more than 120 client groups and the team, from Roger Ng & Co that have joined Prosperity.” says McKeown.

“We are pleased that both Karen Ng and her father, Roger will continue with our firm. Their specialist SME knowledge will be invaluable in assisting Prosperity to cater for a market that is often not well served by its advisers; many of whom are trapped on the compliance treadmill.”

Following a searching selection process, choosing to join with Prosperity Advisers was a logical next step for Partner Karen Ng, “Prosperity offers a complete service for our clients from financial planning, accounting and business management using the latest technology, through to tax consulting and structuring, employee benefits and superannuation. It’s a one-stop-shop where our clients will benefit as they grow their businesses and family wealth. In addition Prosperity’s people really stood out for us as very approachable, client nurturing, highly knowledgeable and leaders in their respective fields. We are delighted to be on board.”

Prosperity creates opportunities for professionals to thrive

Prosperity is delighted to be a finalist in this year’s Australian Accounting Awards across two categories.

It follows recent awards for excellence among our team – Hillross Adviser of the Year for Gary Dean and 2016 Rising Star of the Year for Alex Hardy. Siobhan Sellick has been announced as finalist for Partner of the Year while Prosperity’s Professional Development Program is also shortlisted for recognition at this year’s Australian Accounting Awards.

Staff feedback surveys tell us that what sets Prosperity Advisers Group apart from other firms is our collaboration, professionalism, learning culture and team ethos – especially the lengths that we go to make a difference for our clients and to support each other.

This recognition builds on firm and individual successes awarded in 2016. We have been recognised again for the contribution our people make in helping to create stronger financial futures for our clients.

In becoming a finalist for Partner of the Year, Siobhan Sellick consolidates her 20 years of business advisory, accounting and tax experience working closely with individual, family and business clients.

Siobhan says: “I like to spend time with my clients getting to know them well. I meet with a client’s team, partners, children and people who influence or rely upon them. Prosperity gives me the freedom to work with other teams and the time to get close to clients and their families. I am not restrained in my approach so that I can provide holistic solutions and not just piece meal advice.

Mentoring my team to go beyond traditional compliance accounting has reaped rewards for individuals who have stretched themselves and discovered new skills and knowledge. It’s a very satisfying part of being a Partner.”

The Professional Development Program award recognises achievement for innovation in program development, implementation and outcomes achieved. Prosperity’s Learning Organisation approach underpins how we engage with each other and how we work with clients. For us to be recognised as the Firm of the Future we are embracing technology, changing how and when we advise and engage with clients and reshaping how we build enduring client relationships.

HR Director, Tanya Craft said “Personal and career development is an important consideration when people join Prosperity and our program aims to address the balance between technical, personal and professional growth.”

Category winners will be announced on 26 May at a gala dinner in Sydney.

Senior appointments cap Prosperity’s Bumper New Year

Award winning financial advisory firm, Prosperity Advisers, welcomes new talent in Brisbane & Sydney.

Senior leadership additions in both Brisbane and Sydney heralds continued growth for the firm and new opportunities for Prosperity’s clients. Joining the firm’s director team is Michael Mahabeer, specialist internal auditor and risk adviser and Michael Bode, business and personal taxation specialist.

Speaking about the additions to Prosperity’s talent line up, Chief Executive and Founder Allan McKeown says “The calibre of our directors is testament to the quality of work we undertake for our varied clients. Without quality clients and exciting and challenging work we would not be able to get the attention of candidates like our two newest directors. I’m excited to see the impact that our new starters will have on our clients and team.”

Michael Mahabeer boasts an impressive track record in senior leadership positions across internal audit and risk management. He led the transformation of the internal audit function at a large government owned corporation in Queensland and has held previous senior roles with Suncorp and PwC. Michael is an internal audit expert with specific knowledge and technical competency of the public and finance sectors. 

Michael Bode specialises in providing advice on Australia’s complex tax system for corporates, businesses and individuals. Having previously been director for many years in the tax consulting division of a global accounting firm, Michael has considerable experience advising on all aspects of taxation for international inbound corporate entities and high wealth private client groups, including mid-cap and family owned businesses. Michael is known for his straight-forward approach and skill at translating complex matters into every-day language.

These appointments capped an outstanding year for Prosperity. The firm picked up three industry awards; moved into fresh new workplaces in Sydney and Brisbane; and launched our Future Thinkers Program and Business Advisory Academy to ensure our people are ‘future fit’ for a fast changing professional environment.

Prosperity Wealth’s Gary Dean recognised as ‘Most Trusted Adviser’, securing Adviser of the Year Award from Hillross Financial Services

Gary Dean - blog

“To me this is the most important aspect of a financial adviser – someone who can take all the stress of managing the money on my behalf and at the same time be able to convey to me the knowledge and confidence to rest easy about the decisions I make.” Client, 2016

Prosperity Wealth Advisers is delighted to confirm that Gary Dean, Associate Director, has secured the prestigious Hillross Financial Services award for Adviser of the Year. Highly sought after, this award recognises not only the expertise which Gary brings to his dealings with clients and the industry, but the depth and meaning with which his clients view their relationship with Gary.

Allan McKeown, CEO and Founder of Prosperity Advisers Group says, “In helping our clients to create stronger financial futures, Gary has secured a position with his clients which is based on trust, mutual respect, genuine care, and of course, excellence. We are very proud to have Gary Dean as part of the Prosperity Wealth family and are delighted that his hard work, knowledge, abilities and passion for his clients has been publicly recognised.”

Independent client research through the Beddoes Institute was instrumental in deciding the award winner as was demonstrating a commitment to ongoing excellence in providing personal financial advice, robust and high quality advice processes and a clear and demonstrable passion for clients.

At the ceremony Prosperity Wealth Advisers was also recognised for a further year as a leading advice practice securing its status as member of the Elite Strategist Group among Hillross licensed financial advice firms.

Speaking about the award Gary Dean says, “To me it’s simple, I get to know my clients as individuals. Providing financial advice is personal and that’s the approach I take. Working with my clients gives me incredible satisfaction, I highly value my interaction with them and the trust they place in me and Prosperity. I am very grateful and humbled that my clients provided such great feedback which contributed to winning this award.”

For more information, please contact: Anne Adams (02) 8262 8718

7 business strategies for 2017!

youth-active-jump-happy-40815

(First published in Kochie’s Business Builders)

What can you do this year to ensure 2017 is their best year in small business yet? Here are 7 important strategies to help put you on the road to success.

# 1. Rest and read
As we know the whirlwind of being a business owner operator can provide a tremendous sense of achievement, however it can also take its toll mentally and physically if you don’t take time out regularly to recharge the batteries. Waiting for a time when things are quiet will mean the break may never come. A good friend of mine got me into the habit of booking a few breaks at the beginning of the year before the pendulum starts swinging. That way you will find it much easier to step out of the furnace.

Make sure you take a good book with you as well to improve your business skills. As business growth guru, Verne Harnish likes to say those who don’t read, barely have an advantage over those who can’t read. Exponential Organisations, the best seller by Salim Ismail was my choice over the holiday break and should be on your list.

# 2. Understand disruption
The book Exponential Organisations by Salmi Ismal is a good start to get an understanding of what all the talk about disruption is actually about. Moores Law – the doubling of computer processing power each year doesn’t just mean cooler iPhones. Coupled with some smart thinking, advances in technology are changing business models and all of our businesses will be profoundly affected over the next five years. It’s not all bad news though as your small business can benefit from better technology, higher efficiency and lower costs together with the fresh opportunities that change can bring.You need to start thinking now about:

  • What industry is my business really in?
  • What industry will my disruption come from?
  • How can I future proof my business and take advantage of these rapid changes

# 3. Embrace innovation
Innovation is not just about creating a new revolutionary app, it’s about ways of doing the same things better. Technology enables all of us to take advantage of these innovations to run our businesses better, faster and cheaper. The challenge for you as an owner operator is to commit the time to understand what’s available, what will help you serve your customers better and make your team members more productive. Don’t be distracted chasing every ‘bright shiny thing’ but there will be two or three systems or processes you can implement to radically transform your business.

# 4. Minimise your largest expense
Most small business owners don’t think about it this way but taxation is usually your largest expense. While we don’t advocate tax avoidance in any way there are many opportunities to legally reduce your tax. As the late Kerry Packer famously said “if anybody in this country doesn’t minimise their tax they want their head read because as a Government I can tell you you’re not spending it that well that we should be donating extra.

”You will need good advice though and if you don’t think you are getting it, there are plenty of good accountants that would be happy to review your position.Some very substantial changes to the Superannuation system have recently been passed with an effective date of 1 July 2017. While this sounds like a long way off, but depending upon your age and the amount of assets you have inside (or outside) of super, some planning opportunities may be available.

# 5. Plan to succeed
A recent Research report from BStar revealed that 72% of SMEs don’t have a formal business plan with only 34% allocating any time at all to strategic planning. Economic growth and opportunities are not evenly spread throughout Australia. Labour markets, population trends, business and consumer confidence are all influenced by local factors and we also have the impact of innovation and business model disruption. Business planning approaches have evolved to see the wasteful 20-page document become a thing of the past replaced by concise one page versions that can help you and your team understand the critical success factors for your business and stay focussed on implementing the necessary actions to achieve your goals.

# 6. Get great advice
Not even the great sports people can achieve success on their own. Business owners have clear needs for advice and assistance. You need an experienced sounding board, someone you can trust to discuss your plans and issues with and ideally keep you accountable to achieving your goals. There are many names for this role – mentor, guide, coach or adviser. It may be a friend, colleague, accountant or lawyer with some larger businesses forming a proper ‘board of advice’.Find the right person or structure that suits you, take some time out to think about where you want your business to go, get to work on your strategic plan taking advantage of some smart technology and you will be well placed to avoid the perils of disruption while you build your superannuation nest egg.

# 7. Have fun!
Don’t forget to take some time out to enjoy the ride.