Born in only May 2018, the Xeinadin group is a hugely exciting consolidation of over 150 independent accountancy firms across the UK and Ireland.
Written on October 20, 2019 by The Xeinadin Group
These firms have come together as one united, leading professional services provider, motivated by an unprecedented, visionary opportunity to work together as one stronger entity with a common purpose. Positioning itself as the ‘Firm of the Future’, the group aims to proactively tackle challenges facing the industry head on and turn those challenges into solid, marketable business opportunities. By placing technology and best practice at the heart of its client offering, the group’s member firms will ensure that they continue to deliver the very best service possible to their vast, diversified and extremely loyal client base. With technological change comes huge business opportunity for those willing to go the extra mile. The group plans to lead that endeavour.
Accountancy practices within the group range from small, local offices to larger, regional, multi-office practices with several Directors. Together they house many of the hardest working and most innovative entrepreneurs from the professional services sector. Embedded as trusted advisers in their local communities and with strong recurring annual revenue streams, these individual firms have proven themselves extremely resilient to economic uncertainty and couldn’t be better placed to support clients through evolving technological, political and economic landscapes. With so many disruptive but exciting ‘fintech’ solutions emerging, only the most open-minded and determined of accountancy practices will succeed where others fall. The opportunity to embrace and support further firms wishing to enter the group will only serve to make the group stronger, increasing its market share and pooled expertise.
Many of the firms were head-hunted into the group on the basis of their entrepreneurial success, strong historic growth and future potential. Several are regional and national award winners. All are seasoned professionals and all are highly motivated to make the group a resounding success. Importantly the group’s aim is not to impose a centralised brand on its members or restrict successful working practices. At the core of the group’s philosophy is a recognition of the huge value inherent in the individual, regional brand identities of its members firms and the impressive work they have put in to create highly profitable businesses, build the trust of their clients and to tailor their services to the needs of their local communities. All firms will keep their original names and will benefit greatly from the support of hundreds of Directors, pooled resources, cost efficiencies, economies of scale and a network of specialist service providers. In this way all Xeinadin offices can deliver big firm expertise and capability with the care and attention of a small firm.
With a focus on future growth and business continuity the group has developed its ‘NextGen’ initiative, aimed at developing the next generation of business professionals. This initiative will seek to identify and develop the most talented accountants within the group to evolve to Director level whilst simultaneously recruiting the best external talent. In this way the group will address the national succession issue faced by the industry and allow existing partners with a lifetime of service behind them to unlock some of the value of their businesses.
With substantial turnover, the group is forging mutually, cooperative relationships with key technology and software providers. Such relationships and technological tools will allow Xeinadin offices to provide new or enhanced services to existing clients including, but not limited to, business growth, financial and legal management. Greater specialisms available within the group will allow Xeinadin offices to refer more work internally to generate immediate returns, with huge potential for future growth. Examples of specialisms include probate and wills, corporate finance and international tax compliance. Whilst showing a disruptive characteristic, the group intends to build strong and mutually beneficial relationships with suppliers, enabling the substantial sized group to benefit from both cost efficiencies and economies of scale.
With a strong community theme, the group has a major focus on mutual cooperation and collaboration in order to best support all Xeinadin offices and their clients. Partner level expertise will be strengthened through a mixture of internal networking initiatives, group learning exercises and training workshops focusing on dynamic teamwork and leadership skills. Group expertise will be pooled and shared to the enormous benefit of clients’ businesses.
The Group has become the first major UK & Ireland professional services firm with major focus on servicing the OMB and SME markets and with a major focus on improving and evolving client service standards using the very latest available technology to develop the ‘Firm of the Future’ concept.
The Group plans not to be making any further announcements until around 1st July 2019.
The group’s website is: xeinadin.com
The group members have won many national awards including:
- Accountancy Age Firm of The Year
- British Accountancy Award Winners
- Xerocon Firm of the Year
- 2020 Firm of the Year
- AVN Annual Firm of the Year
- Many other awards have been won by the members.