Overview
Our clients are second-generation wheat, sheep and large cattle feedlot farmers in Newdegate, 400km south-east of Perth in Western Australia’s Great Southern region. This family has been a client of the Abbotts Group since 1980, choosing us for our multifaceted services spanning chartered accounting, wealth management and finance broking. To quote the farmers, we are a “one-stop shop” for expert financial services.
The Challenge
Like any farming business, this business face a unique set of challenges relating to seasonality. There are often difficulties in sourcing raw materials and equipment, and in maintaining the farm during periods of drought. Despite these challenges, the farm has experienced rapid growth and expansion. With this, however, came growing pains and staffing issues that would need the help of a financial expert with proven skills and a true understanding of farming.
The Solution
To ensure that the clients and the farm’s future generations would be strategically positioned for long-term wealth and financial security, we take a proactive and tailored approach. Our team of client-focused professionals provides accounting, finance broking, taxation and succession planning assistance. We guide them through the purchase of most large assets such as houses, cars and land to ensure the business takes advantage of the best pricing opportunities available at the time of purchase.
The Outcome
We work collaboratively with our clients and the next generation , developing strategies and recommendations to help generate, protect and preserve their wealth. Our expert financial services have empowered their success and helped them to reduce their expenditure, receive a better return on investment on sizeable assets and establish a plan for ownership of the farm from one generation to the next. With our help, the future of the family farm is in good stead.
