FS360 Podcast - Episode 40

FS360 Podcast Episode 40

Values Based Advice in a modern business world.

Gavin Nash introduced Scott Kitchin, Accounting Director at Mulcahy’s Geelong office. Scott began practising Accounting in his hometown of Horsham, before moving to Geelong in 1998, where he became a partner in a multi-partner firm.

In 2014 Scott started his own practice, launching his vision of a different way of running an accounting business. He proceeded to recruit others who shared his vision, won awards, and built a client base of professionals and business owners in the Geelong Area. When a client introduced him to Mulcahy & Co, he found that there was a shared mindset, and in 2021 he moved his business into the Mulcahy & Co Group. Whilst Scott was initially concerned that he might lose his point of difference, he very quickly realised that Mulcahy & Co had the same approach and values as himself.

The move also gave Scott the opportunity to provide his young and energetic team with a dynamic career path. The multi-disciplinary nature of the Mulcahy & Co company structure provides Scott’s team with the valuable experience of collaborating with other professionals to create strategies for their clients.

Scott Kitchin

Accounting Director

Mulcahy & Co Geelong

Scott explained his Values Based Advice system – he and his team spend time with clients in order to get into their hearts and minds; from there he can provide relevant, tailored and sustainable advice in line with his clients’ values. Clients have dreams and goals but don’t always know how to achieve them.

Helping clients in this way is not only rewarding and relevant, but also builds sustainable relationships with clients which carry through generations of families and businesses. Scott finds it rewarding to see someone able to bring their retirement plans to life, or to assist their children to build their dream home – this point of difference is what adds value to a relationship which could otherwise be just transactional.

Scott cited the example of a client whose retirement plan was to sell his business for an expected sum. His plan was, however, severely flawed as he had overestimated the value of his business - Scott worked with the client to review his plans.

Being part of the Mulcahy & Co Group has provided Scott with the opportunity to work with financial planners, other accountants, the legal team, and other professionals to obtain powerful outcomes for clients in a short time frame. With a broad spectrum of clients in the Geelong area, including doctors and other professionals, tradies, and small businesses, as well as a number of agribusinesses in the Western District, Scott finds that he has diversity in his client base without the risk of losing focus on particular trends in specific industries. The Mulcahy & Co model also provides referrals to new clients which are very welcome.