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“I trust Geoff and the HMcR team because they are straight talkers and there is no rubbish. You know where you stand and you don’t have to waste time ‘beating around the bush’.”
Malcolm Becker, Tintinara
A lot has changed since 1929 when Malcolm Becker’s father set up a small General Store in the town of Tintinara, a farming community in the south east of the State. Over the years, the business grew into a successful newsagency, hardware store, drapery and a supermarket.
In 1999, the accountant, who had been with the business since Malcolm’s father’s time, decided that the GST and Y2K were issues he did not wish to tackle. Following advice from a friend and financial adviser, Malcolm decided to have a chat with Geoff Hattam. For many years, Hattam McCarthy Reeves had been making regular visits to the South East, becoming well-known and trusted by many in the area.
It took Geoff Hattam some time to sort through the outdated book-keeping records and get to grips with the multi-faceted nature of the business. Once he did so, his sound advice helped Malcolm Becker to streamline the accounts system as well as get the business onto a solid footing for the future.
In 2003, Geoff asked Malcolm, then aged 63, about his plans for business succession. Malcolm confessed that he had never heard of the concept before. Geoff Hattam provided the example of the client who worked from 7.00am – 7.00pm, 7 days a week, who never stopped working and who, one day, had a heart attack and died. His widow had no alternative than to sell the business at a fire-sale price, getting just half of its true worth. Malcolm decided that it was not what he wanted for himself or his family.
Guided by the advice of Geoff Hattam and a financial adviser, Malcolm decided to plan for his retirement and to put the business up for sale. He fully expected that it could take as long as 5 years to sell. Fortunately for Malcolm, it took just 12 months and Malcolm was then able to invest in his superannuation. With the help of Geoff Hattam, Malcolm made the break from his business in an orderly and planned manner, and in his own time.
Malcolm is able to appreciate the time he spends with his family and regularly travels to exotic locations, knowing that he can trust that his financial affairs are being looked after while he is away. Taking full advantage of all the years of hard work in the business, Malcolm is grateful to have achieved retirement at a younger age than he ever expected. As well, he now has enough money to spend in retirement.
Over many years of working with Hattam McCarthy Reeves, the personal relationship has developed to the extent that Geoff always visits Malcolm and his wife, Faye, whenever he goes to Tintinara on business.
Malcolm Becker says that he “openly recommends HMcR to everybody he sees”. Several friends have made the move to Hattam McCarthy Reeves, with Geoff Hattam and the other partners continuing to build on the strength of the longstanding relationships that are a hallmark of their accounting business.