This feeling continues until, nearing Mother Earth’s embrace, everything
seems to speed up until you land with a mild bump and the experience becomes
history. With three working weeks left, in project terms we are now experiencing
that ground rush before final landing, and wondering when is the best time to
open our eyes.
As we get ever closer to Independence Day, here are my free tips on the
- Do your feasibility study and identify the best conversion date for you.
Work back from that date and be totally realistic in setting the timetable.
- Choose your legal advisers carefully. Recent experience is key and being
able to call on the wealth of experience of someone like (in our case) Richard
Linsell of Mayer Brown Rowe and Maw was a real bonus (on a fixed-fee basis too).
- Select your project manager and the rest of the team very carefully. Aside
from the bigger issues, such as the buy-in of the partners in the first place,
there is a huge amount of detail to plan through. We found that a steering group
of five was the perfect number to distribute the burden and keep driving it
forward. The devil is indeed in the detail.
- Communicate, communicate, communicate. Having briefed everyone on why and
how, keep them informed of progress and ask them for feedback.
With the benefit of 20:20 hindsight, I think the only major thing that we
would have done differently is to have separated the conversion date from the
end of the financial year. That heady mix of budgets, billing and business
transfer has made me a very tired boy.
And, of course, if you want reasonably priced advice and project assistance,
you know my number.
Mike Tovey is managing partner of Chantrey Vellacott DFK
Carter Backer Winter has acquired Edwards Financial Services, expanding its financial planning department
New growth opportunities in Aberdeen, North East Scotland, are being invested in by Grant Thornton
Colin responds to the call for 'Darwinism' in accountancy
A new partner, Dermot Callinan, has joined Saffery Champness from KPMG where he was recently the head of the UK private client advisory team