Mazars’ private client partner, Hina Desai: advisors now a client ‘sounding board’
The importance of the advisory role has increased substantially after the turbulent last few years
Several years of economic volatility for businesses have resulted in advisors becoming a ‘sounding board’ for their clients, according to Hina Desai, Mazars’ private client partner.
In January, Desai joined Mazars after leaving her role as managing director in the North and Midlands at Abrdn. Desai brings 25 years of experience in client advisory services, including 14 years at Grant Thornton.
Desai leads the private client team in the East Midlands, an area where Mazars has seen substantial growth in recent years.
In her first 100 days in the role, Desai told Accountancy Age the advisory role is now “essential” because firms can reassure clients when they face difficulties.
Advisors are the person clients will reach out to whenever something occurs within the business, she notes.
“There are scenarios that you could talk through with them, and you act as a sounding board for them.”
Desai believes this allows advisors to connect clients with various departments in an accountancy firm which suit their requirements for a specific problem.
“I have clients who have been approached to invest in businesses where the business may not be the right option for them, or they don’t know whether it is or isn’t. But we’ve got the people who could look at these to say, if it is viable or not for them.”
The pandemic created various challenges for businesses and accountancy firms had to be on hand to help combat these struggles.
“I knew which clients usually wanted a phone call when the pandemic started, and which clients would need a check-in because they’ve all got other things going on in their life too, “she adds.
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“The pandemic meant many individuals had to reassess what they wanted from life and whether they should cut back or not, she notes.
The cost-of-living crisis has resulted in individuals having to cut back their spending, meaning advisors have had to assist clients to be wiser with their business costs.
“Cash flow analysis is quite key here because we’re able to help clients and say, what we’re trying to create for you is to make sure this lasts you for the rest of your life. So that they can then pass wealth on through successive generations.”
The opportunity of the East Midlands
Desai grew up in Leicester, and so the opportunity to grow a team in the midlands is an extremely exciting proposition for her.
Additionally, Desai views this position as a chance to return home and work with people she recognises, and she believes she understands these communities.
“I think the East Midlands is an exciting opportunity overall because of the types of businesses that are there,” she states.
“If you look at the past, we would have had historic businesses like manufacturing, and hosiery and we would have had the lace.
“It’s evolved over a period of time so that what you’ve now got is businesses that are tech-savvy and that are internationally known, they’re building their brand and being involved in the chambers that have been really important for us in each of the areas in the East Midlands.”
Desai says Mazars has 10 people in the region in its SLT and 150 people out talking to clients, opening an opportunity locally to help the individuals behind these businesses, and this is a priority for her.
“Nationally, we’ve done a lot of things that have worked brilliantly, and now it’s also about shaping and leaving a legacy in the Midlands long term,” she adds.