In this edition, we profile Melbourne based DFK Benjamin King Money. We asked Cheree Woolcock CEO/Managing Partner about herself, her firm and DFK International.
FS: Cheree, tell us about yourself.
CW: I was appointed CEO/Managing Partner of DFK BKM in 2013, having commenced with the firm as a graduate in 1987 and joining the partnership in 2004. I joined the board of DFKANZ and was appointed Chair in 2017. It is a great honour to be the leader of such an organisation.
I was fortunate that BKM enabled me to work part time whilst my children were young and once they were established in school I was able to return to a full-time role as part of the BKM leadership group.
I remain very hands on with my main areas of expertise being business advisory, tax, audit and superannuation. I recently obtained my superannuation specialist qualification.
FS: What is the history of DFK BKM? When and why did it join the DFK International group?
CW: DFK BKM was founded in 1960 by Phillip Benjamin and by 1987 when I joined there were 9 in the practice. Today the BKM team numbers 45 and growing.
In 2011 BKM joined the DFK International alliance as a member of the DFK Australia New Zealand group, enabling the firm to move into the international space. As our client’s needs were expanding offshore we needed an alliance that would enable us to partner with international advisors. DFK International has been a great fit for us. As part of DFK we participate on many committees including locally and internationally. The knowledge that is shared is invaluable to our collective and individual firm’s ongoing successes
FS: DFK is one of the world’s largest accounting and business advisory groups. How big is the group globally and locally?
CW: In 2017 the alliance was ranked 7th of the independent international accounting associations with 214 member firms across 92 countries with in excess of $US1.2 billion in revenue. In our local ANZ region there are 14 firms across 18 locations and we are ranked 19th in the 2017 AFR Top 100 Accounting firms.
The importance of local knowledge with national connections and international reach is what being a part of DFK can deliver.
DFKANZ is actively seeing new members particularly in Tasmania and the South Island of New Zealand but all major capital city firm applicants would be considered.
FS: What services does BKM provide? Are there any areas of specialty?
CW: BKM is a full service practice offering Tax / Business Services and Advisory / Audit / Wealth/Financial Planning / Superannuation and SMSF / Virtual CFO / Back Office
The leadership team consists of myself, Terry Stramotas, Tim Kelleher, Brent McCartney, Kevin Adams and Julia Bull. Each has extensive experience in their fields of expertise. Terry is a well respected practitioner with over 20 year’s experience as a Chartered Accountant, whose strengths are Tax, Advisory and IT. Tim is a representative on the DFK International tax committee, a role he fills wonderfully as he is dual qualified in both Australia and the United Kingdom and has over 25 years experience. Brent recently attended the DFK International Emerging Leaders summit in Dubai and his strengths are Tax and Superannuation. Kevin leads our Audit division and he has a lifetime of experience. Julia heads our Wealth division and she was awarded the 2017 Securitor Award for Technical Excellence in Australia.
We have many long term employees who make BKM as good as it is and our longest serving employee is Marie Lettieri-Passarelli, who leads our HR and corporate secretarial divisions, this is testament to the BKM family with her 33rd anniversary with us fast approaching.
FS: How is BKM adapting in an ever changing technology world?
CW: We understand the world is changing and how important it is to keep abreast of these changes.
Embracing IT changes via cloud services and emerging systems and processes, changing the way we receive and delivery services to meet the changing needs of our clients is important. Baby Boomers want different deliverables to Millennials and it is important that we understand everyone’s needs and adapt accordingly.
FeeSynergy has been part of our recent journey by enabling clients to finance their fee, this has been an enormous benefit to our clients and mutually beneficial for FeeSynergy and BKM.
FS: What are your aspirations for BKM over the next 5 years?
CW: Our 5 year plan is very clear on where we see our business heading. We have put the foundations in place to be able to handle significant growth in the next phase of our business by having our clients and prospective clients be able to access our full suite of products and services and have all aspects of their professional needs be handled from the one office. We care about our clients and we are business partners with them and are excited to be part of their journey.
We believe in what we do and we have the technical expertise to deliver a superior product. We always say we are … Big Enough to Know and Small Enough to Care
We have continued to be strategic in our recruitment, many of our team have been with us for 10 years or more and this is supplemented by our graduate programs where we have an intake of 3-4 each year. They complement of both skillsets enables us to service and understand the needs of all potential clients from baby boomers through to the millennials.
As we move into the next phase of business in Australia and internationally the message as far as I am concerned is clear:
- Surround yourself with the best possible people – team members, colleagues, clients, networks
- Embrace technology changes
- Understand what clients want and how to deliver to their needs
- Take every opportunity that presents itself
- Be true to yourself and strive to be the ‘best you’ you can be
