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Managing Partners Meeting

The Managing Partners Meeting on 15 April was the second one that I have attended as HB&O only joined MGI late last year. The first meeting was only just after we became members and therefore there was little I could contribute and in reality it was a learning experience for me.

The main motivation for HB&O joining MGI was the international association, and being able to offer our clients worldwide support, as well as hoping to obtain reciprocal referrals. However I also hoped that we would obtain value from building strong relationships with the other UK member firms and I am delighted that this has turned out to be the case.

As advisers to owner managed businesses I am fully aware how isolated some of the business owners feel, and we are always offering ourselves as being part of their support structure. As a managing partner I find it invaluable to have the ability to speak to like minded people about how they are dealing with issues that concern us. The fact that none of the member firms are in competition makes it even easier to share ideas and business development initiatives.

At the last meeting we discussed the level of gross margin that each of us were attaining, and where they were differentials as to why they existed. We also discussed a number of marketing initiatives that were being carried out which again gave us ideas on potential additional income streams.

There was also a discussion on group PI cover, fee protection insurance, group medical cover, marketing literature etc. We are all doing very similar work, with similar client banks, and there is no need for any of us to “reinvent the wheel”.

Having now attended two meetings, I am very much looking forward to the next where I will be seeking to use the knowledge and support of my fellow managing partners to a much greater extent.

Robert Kendall
Harrison, Beale and Owen