In the first in a series of blogs about Townends Accountants’ Philosophy, Fred Verney, who has been a Townends’ Partner since 1974, explains the core elements of the firms very different approach to providing for their clients’ needs.
The services Townends offer go far beyond the expected remit of a traditional accountancy firm. Not only do we provide the full breadth of everyday accountancy services as well as the more specialist areas, our ultimate goal is to become our clients’ Trusted Advisor on all financial and business issues.
Most mid-sized owner managed businesses are driven by a desire to provide for “the family”. The Townends’ Philosophy is the process we use to deliver a viable flexible “Family Plan” which evolves as the business and family needs change.
Our Philosophy seeks to develop long term working relationships which surround the whole of the family and delivers solutions as their various needs evolve. The “Family Plan” is an enduring proactive, rather than reactive, process.
A number of our family plans date back over 40 years. We regularly work with the different generations of business owners and their families, delivering exceptional continuity for everyone and practical solutions to most major issues. The process never ends!
One of the most interesting and demanding elements of delivering the Philosophy is clarifying the personal and business objectives of those in charge and then providing solutions to deliver those objectives. Clarifying objectives is critical to successful long-term financial planning. In the early days of most businesses, the personal and business objectives of its leaders are often entirely compatible – maybe to build a successful business as quickly as possible. As the business and its leaders mature, the objectives can start to diverge – they maybe want to continue to grow the business but have Fridays off. A good example of how the “Family Plan” evolves.
We believe in straight talking and have considerable experience in providing bespoke solutions to most family and business situations. The one-size-fits-all service just isn’t appropriate. At Townends, we understand that every business and family is unique, even if they may face similar problems and our Philosophy is our own unique approach to providing tailored solutions for most, if not all, business and family financial needs.
We are dedicated to helping clients achieve their personal and business objectives and delivering “the Plan”. By establishing these objectives early on and with regular reviews thereafter, we have a solid foundation from which we can then provide proactive advice to make it happen together.
This definitely works – why not try it?
Fred heads up the Tax and Strategic Planning Department and has worked throughout his career in a tax-driven environment and represents many high net worth families. Fred is actively involved in all aspects of tax planning targeted to meet the personal and business objectives of the firm’s clients and their families through the Townends Philosophy approach and development of Family Plans.