So the scenario usually goes something like this.

1- The trigger – a discussion with someone has caused you to question how good your existing accountant really is. Your accountant takes a long time to get back to you, and when they do, it is sub-standard service. You meet an amazing accountant at a party, and think, why isn’t my accountant like this. Whatever the reason, there is always a trigger.

2 - The guilt period – You have usually already made up your mind, as the trigger is usually your mind telling you subconsciously that maybe it is time to move on. But the issue you are struggling through is this. You have known your accountant for X years. He/she knows everything about you. He/she knows your mum, dad, uncle, brother. You usually run into your accountant at the local IGA. This is what we call the guilt period. What we say to people that we meet in our discovery session is this – decide on who will provide you with the best and most tailored service, and then make it a business decision to move on. If you engaged your original accountant from an emotional perspective, then it is most likely the wrong choice to begin with. That’s not to say that they are bad accountants – they just may not be suitable for you or your business.

3 - The changeover – So then you have pushed through the guilt period, and have decided, YES – I am moving forward with this fantastic, wonderful new accountant. Next comes the transition. There can be a bit of pain through this process, and you may need to be involved in helping to pull together the information for the new accountant to understand where everything is at. The process of transition is usually a smooth one, if the emotion is left out of the process.

4 - The breakup – this is the stage that most clients dread, and is usually happening in conjunction with stage 3. Telling your existing accountant, that you want to break up, and that you want to move on. Now, there is no right or wrong to this, and it depends on your relationship with your accountant. How do you usually communicate? Is it once a year? Is it regularly? 

For some clients, there is no relationship. So we simply takeover, send the outgoing accountant an ethical clearance letter (this is a professional letter notifying them of the change), and everyone moves on. About 60% of the cases we have managed fall into this category.

For other clients, it is an emotional one. Think the isles of IGA, think kid’s birthday parties, think school functions etc. This one is a tricky one to navigate, and will be dependent on how truthful you want to be. All we say is – be honest, and be kind. Especially if it’s not because of anything the accountant did wrong. One suggestion is to state simply that it is time for you to find someone who has more experience or better fits your needs.  Always remember to thank your accountant for their work in the past as well. Because they did look after you, regardless of if it is to your level of expectations.

If you communicate with the outgoing accountant, let them know why (because it is the end of a relationship after all), then they will also have closure and be able to move on. A professional accountant should not react, as they would understand that people do move on, and that the needs of their clients do change. In fact, if your outgoing accountant gets mad, than that should reinforce your decision that you made the right decision (it is a sure sign that they lack the professionalism and experience you need.)

5 - The new relationship – after all is said and done, you are now in a new relationship with your accountant. and hopefully it is a lifelong one.

Change is always hard. But if you want your business to grow, or your property portfolio to be managed properly, and the accountant you are using is just not the RIGHT one, then you just have to move on. After all, if there is no growth, there is decline.