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Previously on "Clearsky, Parasol, SJD & Nixon Williams (Optionis) For Sale at £300m !!"

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  • rocketjet
    replied
    Originally posted by Waldorf View Post
    I’ve heard that they’re losing clients now, similar to SJD, they’ve also lost many of their experienced staff, not many left that were there when it was sold in 2014.
    NXW is a sinking ship. Lost experienced staff and clients are leaving in droves.

    Leave a comment:


  • cojak
    replied
    Originally posted by churchillsnip View Post
    Replace 'accountancy practice' with 'IT consultancy' and the above still holds true Chris.

    I wouldn't expect you to share your trade secrets on here, though that process could make interesting reading for those on the forum that are interested in the indie consultancy route.



    Interestingly, SJD are the 10th largest insolvency practice in the country according to this league table (which only looks at certain types of insolvencies). that means that if many contractors do leave the contractor market, there is a short term boom coming their way.
    FYI - I checked out the No.1 on that list (due diligence and all that - a colleague of MrC had used a company that they'd bought out), and they were more than twice the price of MVL Online.

    Just sayin'.

    Leave a comment:


  • regron
    replied
    Been with NW for nearly 4 years and have definitely seen a change in the level of service in the last 6 months. New accountant(s) and delay in answering queries.

    Leave a comment:


  • Waldorf
    replied
    Originally posted by rootsnall View Post
    Are Nixon Williams starting to pick up any flak ? I've been happily tootling along in year 2 back in contracting and they've been OK so far but I have noticed the Point of Contact has changed quite a few times.
    I’ve heard that they’re losing clients now, similar to SJD, they’ve also lost many of their experienced staff, not many left that were there when it was sold in 2014.

    Leave a comment:


  • rootsnall
    replied
    Originally posted by cojak View Post
    First Freelance customers - expect the same level of service as those clients who used to use SJD...
    Are Nixon Williams starting to pick up any flak ? I've been happily tootling along in year 2 back in contracting and they've been OK so far but I have noticed the Point of Contact has changed quite a few times.

    Leave a comment:


  • VelcroPower
    replied
    Originally posted by Maslins View Post
    I guess this perhaps isn't that weird...but just to check my understanding, this means at the same time as trying to sell the whole combined business, they're still buying up further smaller businesses to merge in?
    Just for the numbers at the top end I assume.

    The higher the client base the more opportunities for "Monetising clients" for new investors, plus the turnover goes up and they can say to potential buyers "...and that EBITDA is without any integration / efficiencies / further massive reductions in service levels"

    Leave a comment:


  • saptastic
    replied
    I must say I have never heard of First Freelance and First Umbrella in the contracting world.

    Leave a comment:


  • Maslins
    replied
    I guess this perhaps isn't that weird...but just to check my understanding, this means at the same time as trying to sell the whole combined business, they're still buying up further smaller businesses to merge in?

    Leave a comment:


  • cojak
    replied
    Originally posted by Darren at DynamoAccounts View Post
    Looks like the announcement has been released about First Freelance

    Link
    First Freelance customers - expect the same level of service as those clients who used to use SJD...

    Leave a comment:


  • Darren at Fox-Bartfield
    replied
    First Freelance

    Looks like the announcement has been released about First Freelance

    Link

    Leave a comment:


  • cojak
    replied
    Building trust take time and I trust Maslins. Simple really.

    Leave a comment:


  • MrButton
    replied
    Originally posted by cojak View Post
    For the same reason that you are seeing more outside IR35 contracts in the Public Sector.

    They need contractors, the sort who walk away from inside contracts.
    Exactly

    Leave a comment:


  • Andy Hallett
    replied
    Clearsky, Parasol, SJD & Nixon Williams (Optionis) For Sale at £300m !!

    Fascinating what you hear around the campfire when your role has moved to investments...

    Leave a comment:


  • Darren at Fox-Bartfield
    replied
    Liquidators

    Originally posted by Maslins View Post
    Liquidators can't pay for referrals, as of course it could lead to unscrupulous accountants persuading all their clients into liquidation to make cash for the accountant.

    It seems most liquidators get around this by asking the referrer to do a trivial amount of work then pay them a vastly OTT fee for doing it.
    Referring to the infamous statement of affairs fee! Seems to be becoming less frequent these days.

    Leave a comment:


  • Maslins
    replied
    Originally posted by northernladuk View Post
    Do they give iPads for referrals?
    Liquidators can't pay for referrals, as of course it could lead to unscrupulous accountants persuading all their clients into liquidation to make cash for the accountant.

    It seems most liquidators get around this by asking the referrer to do a trivial amount of work then pay them a vastly OTT fee for doing it.

    Leave a comment:

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