Advisor Case Study: Advivo Accountants and Advisors

Advivo is a proactive and highly innovative, client-oriented accounting firm based in Brisbane CBD focused primarily on business clients, the business owners and their SMSF. The firm changed its name to Advivo in 2014 and has been through a number of mergers and de-mergers over the years since original inception in 2000.

Advivo specializes in financial management as a core component of their frequent client meetings, also addressing other compelling issues such as estate planning, succession planning and utilizing their corporate advisory team and skills.

Our team met up with Advivo partner, Dale Edwards, to talk about how Fathom solved an 'age-old problem' for accountants.

The focus of Advivo

Advivo is passionate about assisting business owners with growth through sound financial management, cost certainty and monthly fee instalments allowing clients to smooth their cash flow. They use many tools to deliver business advisory and financial management services and whilst Fathom is but one, it is considered an integral part of their advisory solution. Fathom provides an engaging experience for clients where they can become ‘hands-on’ and gain valuable insight into some of the core drivers of their business.

Advivo uses Fathom and other tools to identify existing and potential problems, and then set to creating constructive solutions which can be modelled, assessed and reviewed in regular meetings making the business owners accountable for their actions.

The age old problem

Advivo was struggling to produce real data to clients in an efficient, cost effective manner and deliver meaningful, visually oriented reporting client's understood and were comfortable in discussing. Fathom was the solution to this.

"We incorporate Fathom into our regular financial management meetings with business clients as a tool to provide visibility and accountability; creating an advisory relationship between accountants and their clients."

Fathom provides a visual representation of client's financial data; without necessarily involving an extensive time investment towards the accountant or dollar investment for the client. Fathom has been used as a primary tool for their client's regular meetings, the core for differentiation, which helps the business owner understand what drives their business.

"It has helped our clients to understand the various concepts through an easy to use and visual interface, which in turn has led to an increasing popularity amongst banks and grown their referrals to us."

Industry specialization

Advivo’s industry specialization encompasses a broad range of business but they must have a commitment to growth and enough sales to be able to seek assistance from Advivo; normally a turnover of $1.5 - $10m. Advivo uses Fathom in their initial meeting to drive action plans with client’s to deliver business improvement outcomes. They discuss where the client is currently positioned and why then proceed to where they want to be by utilizing the 'Goal Seek' function and 'KPI Dashboard'.

"I love the way our client’s eyes light up and how animated they get when I run them through the 'Goal Seek' scenarios."

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