The William Buck Adelaide Story

QLD

2 OFFICES
10 DIRECTORS
105+ PROFESSIONALS

SA NSW NZ

1 OFFICE 2 OFFICES 2 OFFICES
24 DIRECTORS 34 DIRECTORS 11 DIRECTORS
190+ PROFESSIONALS 235+ PROFESSIONALS 85+ PROFESSIONALS

VIC

1 OFFICE
25 DIRECTORS
170+ PROFESSIONALS

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Chapter 2 | Growth and Resilience would stand together to rebuild the William Buck Group. “We
were very clear that we were going to rebuild,” Mark says.
STEP BACK IN TIME: “The relationships were good and we all had a strong work
THE WILLIAM BUCK ethic. We had a lot of similarities and were determined
WOBBLES to make our mark on the world, so it just made sense.”
As adversity so often does, the ‘William Buck Group wobbles’
In 2007, William Buck Melbourne, the founding and largest provided a valuable learning opportunity, particularly for
office of the William Buck Group, underwent a change of the three firms who decided to stick it out. According to
leadership and expressed its interest in joining Mazars to Mark, there were just two rules when they began rebuilding
become part of an international partnership where all six the national alliance.” The number one rule was we would
William Buck offices would operate as one business. The never allow a big office to dominate ever again,” he says.
other William Buck offices said ‘no’. Then out of the blue, “The second rule was that it would truly be a national group,
William Buck Melbourne dropped a bombshell, and left the in other words it was going to be the AFL, not the VFL.”
William Buck Group. Some time earlier, William Buck Brisbane With this agreed, away they went! Firstly, they recruited
had been sold to a consolidator firm called WHK, leaving just a new Melbourne outfit; Hawthorn-based Webb & Co in
Sydney, Adelaide and Perth, as well as the smaller Auckland 2009, followed by Cranstoun & Hussein in Brisbane. Then
associate office, O’Hallorans, which was “hanging out on a Nick visited the Auckland office, to apologise on behalf of
limb,”. Mark Collins (Perth) and Nikolas Hatzistergos (Sydney) the Group, for hanging them out to dry. These six offices
flew to Adelaide to make sure the three remaining firms

Mark Collins, Managing Director
of William Buck Perth

"We learned a lot, contributed a lot
and spent a massive amount of time

building relationships."

– Mark Collins, Managing Director,
William Buck Perth

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Nick Hatzistergos, Managing Director Changing of the Guard
of William Buck Sydney
Nikolas Hatzistergos took over as Chairman of the
formed the new William Buck Group which quickly put into William Buck Group from Ian Lee in 2008. He stood
place all the structures required for this new association to be up and said "I will be the leader of the national
successful. Mark says the old William Buck Group was the group" when it was time to rebuild. Nick was also
pioneer development and there were many good constructive the architect of the Group’s mantra ‘Changing
debates about how it should be. “But we never quite got Lives’ which came about because he wore his heart
there,” he said. “The second time it was quite different. on his sleeve and didn’t like the firm being called
We learned a lot, contributed a lot and spent a massive 'beige'. According to Mark Collins, Nick’s leadership
amount of time building relationships. The second time style has been very lateral, very understanding,
around we had lessons from the past, and one or two extra very accommodating. Bill Hermann, former
numbers at the table which made a big difference in having Managing Partner of US accounting giant Plante
a core coalition of the willing to take it to the next level.” Moran, has watched with interest the evolution
Mark says that as well as the Partners of the six offices, of the William Buck Group, led by Nick, whom he
there were several other people who made a significant describes as “probably the most consistent pursuer
contribution to the rebuilding of the William Buck Group, of knowledge that I’ve worked with.” “He’s what I
including Lynda Clark from Sydney, Helen Withers from would refer to as a hobo on a ham sandwich,” Bill
Perth and Kerry Wight, the General Manager of William Buck says. “He’s like a dog on a pork chop.” In mid-2021,
Adelaide. “Kerry was outstanding,” Mark said. “She made Jamie McKeough, who has been Deputy Chairman
a very big contribution. These three ladies ran their offices of the William Buck Group since 2010, took over
and did an awful lot of work to help us rebuild.” from Nick as Chairman. Mark says this is a very
good appointment. “In all the time I’ve dealt with
Jamie, I’ve really seen him grow and mature into
a very good leader,” Mark says. “I think his best is
yet to come and his appointment as Chairman is
another stepping stone for his growth as a leader.”

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Chapter 2 | Growth and Resilience

RELOCATING
TO THE CBD

A sequence of sliding doors moments between
2007 and 2009 catapulted William Buck into the
upper echelon of accounting firms in Adelaide.

A sequence of sliding doors moments between 2007 and a “defining moment”. “I think this was transformational for
2009 catapulted William Buck into the upper echelon of them in the way they viewed themselves and also the way
accounting firms in Adelaide. The “William Buck Group they were perceived. If the swagger was there before they
wobbles” was such a moment! It caused the firm’s leaders moved to the city, it certainly was a lot more evident after
to re-evaluate what they stood for and their future. Around they moved into the city.” Since moving to its city office,
this time, the firm made the decision to relocate from 48 the firm hasn’t looked back. Being in the heart of the city
Greenhill Road to the CBD. Another sliding doors moment! has given the firm a fresh vibe, as well as greater visibility
When the GFC hit in 2008, this could have proved disastrous, than ever before!
but despite taking up twice the space they needed in their
new city office, the Directors were committed to growth. Right: 211 Victoria Square, Adelaide
This bold move signalled the firm’s intent to the market. Level 6, Reception
It said, “we’re no longer a fringe firm, we’re here to play
in the A League.” The firm moved into 2000m2 over two
floors at 211 Victoria Square, right in the heart of Adelaide’s
business district. According to the firm’s long-time marketing
consultant Marc Makrid, it wasn’t just the move to the city
that was important, but the scale of the new office.”You walk
in here and you feel their success,” he says. “You could still
feel the success at Greenhill Road, but it was cramped. I
think the city location is important, but I think it’s secondary
to the scale and the feel of the place.” Nikolas Hatzistergos
describes William Buck Adelaide’s relocation to the city as

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54

Chapter 2 | Growth and Resilience Mawson confessed he didn’t care much for the city office which
was “jammed in the centre of the city”. This was no doubt due
STEP BACK IN TIME: to his empathy for the bush and his country clients who often
PREVIOUS OFFICES found it difficult to find a park. In 1965, Mawson orchestrated
the move to 68 Greenhill Road on the city fringe. “I take full
When Ken Giles parted ways with Jack Evans in 1943, he credit for that move. It was my idea,” he said in an interview in
moved his office across the street to 47 Waymouth Street, 1991. Ken Giles did not join his brother and the other staff at
where Giles & Giles took up three rooms in the Norwich Union Greenhill Road. He was not keen on moving out of the city and
Fire Insurance Society Building. In the 1950s, the firm moved was ready to retire. However, he wanted his son, Bruce, to have
to the historic Tattersalls office at 12-14 Grenfell Street. This some ownership in the new building. It was an indication of
was built in 1917 as the clubrooms of the South Australian the philanthropic attitude prevailing at Giles & Giles at the time
Tattersalls Club, a betting and gaming club in the style of that the first owners were four Partners and two employees
the London Tattersalls. Membership topped 1,500 in the (Bruce Giles and Doris Brokensha), neither of who contributed
mid-1920s, but the Great Depression saw numbers decline to the capital required. It cost £5,000 to buy the old house
and after WWII the club was forced to reconsider its facilities on the block and the Partners at the time put some money in
and services. Mawson Giles recalls that Giles & Giles initially and borrowed the rest from personal clients. This investment
leased two thirds of the fourth floor but later took over the rest proved to be quite a useful addition to their retirement sum!
of the floor. This required knocking a hole through the wall to
access the new section.

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Northview House, as the new office was known, was only the
second office building to be erected on Greenhill Road. Giles
& Giles moved into its new office in 1966. Mawson said the
new building was all nice and modern and stood out amongst
all the houses, but then others moved out and eventually the
Giles & Giles building became the “ugly duckling”. Due to the
steady growth of the firm, the office became crowded within a
few years and the building was extended by adding a second
section out the back. In 1984, the office underwent additional
modifications, firstly to accommodate computers and secondly
by adding partitioning to create access to various departments.
This renovation included the addition of a boardroom and the
installation of a new telephone system.

Left: Giles & Giles move to Norwich Union Fire
Insurance Society Building, 47 Waymouth Street, 1946
Image courtesy of City of Adelaide
Right: Giles & Giles move to Tattersalls Building,
12-14 Grenfell Street, 1950s
Image courtesy of City of Adelaide

"Northview House, as the new office was known, was only the second office
building to be erected on Greenhill Road. Giles & Giles moved into its new

office in 1966."

Former Senior Partner Dean Trowse, with wife Doris and Northview House, 68 Greenhill Road, built 1965
daughters in front of home to be demolished, 68 Greenhill Road

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Chapter 2 | Growth and Resilience
Once again in 1988, the office underwent modifications. This
time a $50,000 facelift to update the firm’s image and provide a
warmer welcome for clients. Improvements included dark blue
furnishings to reflect the Giles & Giles logo and the addition of
comfortable couches to replace the wooden benches in the
reception area. By 1997, Giles & Giles had once again outgrown
its home of more than 30 years and made the move to a larger
office building at 48 Greenhill Road.

Below: Northview House renovated, 1984
Bottom: Giles & Giles moves to 48 Greenhill Road, 1997
Bottom Right: Former Senior Partners, Peter Brock,
Graham Perrin and Dennis Laundy discuss plans for
Northview House, 1984

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Above: Directors pictured advertising move to Victoria Square, 2008
Below: Staff preparing for the move to 48 Greenhill Road, 1997

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Chapter 2 | Growth and Resilience

JOINING
PRAXITY

Having a strong international alliance was important
for William Buck Adelaide’s clients who were starting to
deal internationally and needed to be in safe hands when
setting up their overseas operations.

By 2009, the William Buck Group had become increasingly come on the back of building strong relationships within
disillusioned with its international association with AGN the Praxity network. Each year, Partners from the William
(formerly TAG). The Group was seeking a decent international Buck Group attend Praxity’s global conference where they
group to align with, which was a natural progression following relish in the opportunity to visit much larger firms in the US,
the successful rebuild of the William Buck Group. Having a Europe and Asia. The North American firms have hundreds
strong international alliance was important for William Buck of Partners and thousands of staff and study tours to these
Adelaide’s clients who were starting to deal internationally massive offices enable William Buck’s leaders to immerse
and needed to be in safe hands when setting up their themselves in new ideas and experiences. Another benefit
overseas operations. The other reason for pursuing a decent of the alignment with Praxity is access to advice for clients
international group was so that the firm could reciprocate expanding offshore.
this service for international clients coming to Australia.
Nikolas Hatzistergos says the William Buck Group is very
Praxity was an active group and the largest accounting good at observing and taking away things, particularly when
alliance globally, but more importantly, its values were closely it comes to Praxity firms. “We have unashamedly copied and
aligned with the values of the William Buck Group. The borrowed a lot of intellectual property that would have taken
decision to join Praxity proved to be a good one! According us a long time to try and develop ourselves,” he says. As a
to Jamie McKeough, the Praxity connection has provided an result of this collaboration, the William Buck Group’s culture
unbelievable learning experience for William Buck Adelaide
as well as the Group. “The access to IP, the advice on how
to run your firm, and how to grow and develop has been
exceptional,” Jamie says. He says without doubt, the primary
benefit of being aligned with the William Buck Group and
Praxity is shared knowledge and experiences. This has

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is very similar to Plante Moran in the US, while its approach accepting,” Bill says. “They were looking for ideas, but they
to marketing is modelled on MNP’s in Canada. Bill Hermann didn’t want them to be packaged. They wanted to put their
from Plante Moran and Randy Mowat from MNP have been own bells and whistles and adjust them.” This willingness
out to Australia on several occasions to generously share to learn from others has accelerated the journey of William
their knowledge with William Buck’s Directors. In addition, the Buck Adelaide and the Group’s other offices, placing them
William Buck Group has learned about practice management in the enviable position of leaders in the mid-market.
from BKD and some of its business development and learning
and development activities have come from DHG and Moss "The willingness to learn from
Adams. Moss Adams has also given the William Buck Group others has accelerated the journey
a good understanding about agile workforce and the use of of William Buck Adelaide and the
technology. Nick says the knowledge and experience these Group’s other offices, placing them
Praxity firms have shared is almost priceless. in the enviable position of leaders in

Bill Hermann has witnessed first-hand, the William Buck the mid-market."
Group’s thirst for knowledge. “It was clear to me from the
first meeting I had with them in 2010 that this was a group of
open-minded people, hungry for ideas. They were open and

Adrian Chugg, Nick Hatzistergos and Jamie McKeough in Beijing for the Praxity conference, 2015

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Chapter 2 | Growth and Resilience

Praxity – The world's largest US$8
independent accounting and BILLION
advisory alliance
TURNOVER
PRAXITY IS AN INNOVATIVE, INTERNATIONAL
ALLIANCE OF MORE THAN 850 OFFICES OF
BEST-IN-CLASS INDEPENDENT MEMBER FIRMS.

PRAXITY MEMBER FIRMS SHARE THEIR EXPERTISE
FROM STRATEGIC LOCATIONS AROUND THE WORLD,
COMBINING DEEP REGIONAL UNDERSTANDING WITH
HIGHLY-CUSTOMISED BUSINESS SOLUTIONS TO DRIVE
OUTSTANDING RESULTS FOR CLIENTS IN OVER 110
COUNTRIES. THROUGH THE PRAXITY ALLIANCE, ONE
FIRM CAN APPROACH ANOTHER WHEN SPECIFIC ADVICE
IS REQUIRED OUTSIDE ITS USUAL TECHNICAL EXPERTISE
OR GEOGRAPHIC KNOWLEDGE OR PRESENCE.

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850+

OFFICES

110+

COUNTRIES

60,000+

INDEPENDENT MINDS

The statistics in this graphic were accurate at time of creation (April 2021)

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Chapter 2 | Growth and Resilience

Secondment

Several staff members from William Buck Adelaide
have benefited from a secondment to one of the large
Praxity firms overseas, including Tax Manager Matthew
Simmons who was seconded to MNP Vancouver in
January 2018. Matthew says this secondment provided
him with a valuable opportunity to get out of his
comfort zone and obtain new knowledge, as well as
grow and develop his professional skill set. “Whilst it
was challenging preparing tax returns for both the US
and Canadian income tax jurisdictions and navigating
their legislation and regulations, the secondment was a
rewarding experience,” Matthew says. “It unquestionably
helped shape me into the taxation professional
I am today.”

Matthew Simmons in Vancouver
for secondment to MNP, 2018

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Audit & Assurance Managers Leng Phuah and Alistair Above: Alistair Taylor-Spry and Leng Phauh in
Taylor-Spry also benefited from secondment to MNP in Calgary for secondment to MNP, 2019
Calgary in 2019. Alistair says it was a valuable once-in-a- Below: Andrew Nicola with his wife Rebecca
lifetime opportunity. “I was exposed to new industries travelling around the US during secondment
and accounting concepts which further developed my to DHG, 2014
technical skills and abilities. The experience provided me
with a different perspective on audit methodology which
has helped in improving efficiencies in the audit division
at William Buck.” Such secondments also provide staff
the opportunity to live and travel in another country.

Leng Phuah agrees with Alistair’s statements “My
secondment in Calgary has definitely changed my life
and professional career for the better. Whilst it took me
out of my comfort zone and had challenges along the way,
I thoroughly enjoyed my time, met some amazing people
and learnt so much during my secondment period. I was
able to bring back the experience and skill set that I learnt
to Adelaide and shared them with my team. If I hadn’t
been through the secondment experience, I wouldn’t be
where I am today!”

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Chapter 2 | Growth and Resilience

MERGERS

There is no doubt that a series of strategic mergers
have also benefited the firm, not just in size, but in the
expansion of specialist services and the acquisition of
many valued professionals and support staff.

One of the stand out features of William Buck Adelaide "We see William Buck as a partner
over the last 12 years has been its consistent growth. While to our business who always
more than half of this can be attributed to organic growth,
there is no doubt that a series of strategic mergers have brings innovative ideas to the table."
also benefited the firm, not just in size, but in the expansion
of specialist services and the acquisition of many valued – Michael Horrocks, Lifestyle Bakery
professionals and support staff. The firm’s first merger of the
modern era was Moore Stephens Adelaide in 2009. Prior to Michael Horrocks, Owner and Managing
this, Giles & Giles had undertaken two smaller mergers with Director of Lifestyle Bakery, and Adrian Chugg, Director.
Higgins Botha and Harmer & Associates. Henry Botha, who
is still a friend of the firm, sold his small, business focused
practice to Giles & Giles in 1993. One of the staff members
who joined Giles & Giles following the Higgins Botha merger
was an accountant called Michael Horrocks. He left after a
couple of years and started up a gluten free bakery at home.
In 2016, Michael’s business, Lifestyle Bakery became a client
of William Buck, based on the good relationship he had with
the firm. Lifestyle Bakery, is now a market leader, supplying
gluten free bread and baked goods to Coles, Woolworths
and many other customers. Michael works closely with
William Buck and says this has provided his business with
long running benefits beyond his expectation.

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In 2004, following the departure of two Partners and a number firm had been keeping an eye on Moore Stephens and had
of clients, William Buck wanted to bulk up its business. The talked to them about merging but was initially knocked back.
outcome of this was a merger with sole trader Chris Gebhardt Managing Partner John Lampard then came to William Buck
from Harmer & Associates. Long serving staff members and the merger eventually took place in 2009. Jamie says
Rosemary Pahl and Rosa Baldino also came across to William John played an important role by embracing the merger
Buck and still remain with the firm today. Chris stayed with from the start.
William Buck until 2018 and prior to his departure, headed up
the Business Advisory division and led the national Business David Mounce and John Lampard, Moore Stephens
Advisory Focus Group.

With a growing appetite for mergers, the next integration
with Moore Stephens in 2009 was significant because it
consolidated the firm’s move to the city and commitment
to grow the firm on the back of the William Buck Group
rebuild. This merger took William Buck Adelaide from 75
staff to 100. At the time, Jamie said he felt this merger was
a pivotal moment in the firm’s history because it would make
subsequent mergers easier. “That has certainly proved to
be the case,” he says. Moore Stephens (formerly Priestley &
Morris) was Giles & Giles’ next door neighbour when it was
based at 48 Greenhill Road. Back then it was a stronger
firm, however, within 10 years, Giles & Giles had significantly
outgrown Moore Stephens, which remained a small firm
with just two Partners and 25 staff. “They had challenges
like small firms do,” Jamie says. “At that size you’re neither
small nor big, which can be problematic.” Jamie says the

Melbourne Cup

One of John Lampard’s father’s early clients, Max Bailey, safe at Moore Stephens' Adelaide office. David Mounce,
was a builder and lucky enough to own a horse called Manager - Business Advisory, who is still employed at
Galilee which won the 1966 Melbourne Cup. Galilee was William Buck Adelaide today, says that every week he
trained by the legendary Bart Cummings and is often had to move the Melbourne Cup aside to make room
claimed to be Australia’s most successful racehorse. for the back up tapes. John and David recall that to help
He was the first and is still the only horse to win the celebrate the running of the Melbourne Cup one year,
Caulfield, Melbourne and Sydney Cups in the same year. they pulled the 1966 Melbourne Cup out of the safe and
After securing the Melbourne Cup, it turns out Max sat it on the reception desk for the day.
didn’t have anywhere to keep it, so he stored it in the

66

Chapter 2 | Growth and Resilience William Buck as a Manager, but is now a Business Advisory
Director, who leads the way when it comes to caring about
Babis Mavrakis, Director, Business Advisory clients and building a strong rapport with them. Other staff
Moore Stephens' other partner, Andrew Craig, had a significant have observed and learned from Babis’ approach, while
number of health clients and provided valuable support to enjoying his charismatic personality.
William Buck’s Health division which was established as
a result of this merger. When Andrew and the firm parted While Moore Stephens may have been the firm’s most
company in 2016, the Health division lost some of its clients, significant merger in terms of staff numbers, the merger with
but has since been rebuilt into a strong portfolio of medical MSI Tilley in 2011 has been the most successful on many
and health professionals, under the leadership of Health fronts. As with the Moore Stephens merger, the initial approach
Director Tom Laundy. Today, Babis Mavrakis is considered a to MSI Tilley was floated many years before it transpired. MSI
shining light of the Moore Stephens merger. He initially joined Tilley’s history dates back to 1947, when John Tilley went into
partnership with Peter Murphy to form John Tilley Murphy and
Co. John was very well regarded in Adelaide business circles
and he also started up a Berri based firm called John Tilley
Nettle and Co. When Nettle retired in the late 1960s, Barry
Hughes joined the partnership and John merged the two
firms to become Tilley Murphy Hughes (TMH). Paul Mansfield
joined the firm in 1970, followed by Dean Spencer in 1980,
by which time the firm had a burgeoning Audit practice with a
strong regional flavour. Every major centre in the Riverland had
a packing shed and John was an expert at converting them
into cooperatives. The firm spread its wings by joining national
group McIntyre Strater International (MSI), however, it wasn’t
until 2006 that the firm changed its name to MSI Tilley. Paul
and Dean said the name change was about becoming more
contemporary, whilst still acknowledging the firm’s founder,
John Tilley who had passed away in 1980.

William Buck Merges
with MSI Tilley

William Buck has cemented its position as a leading Jamie Dennis Martin Chris Andrew John Adrian Tom
SA mid tier chartered accounting and advisory firm McKeough Laundy Hill Gebhardt Craig Lampard Chugg Laundy
after merging with MSI Tilley Adelaide.
Ian Priit Chris Wendy Grant Dean Paul Ben
MSI Tilley Directors Grant Wilson, Dean Spencer, Paul Mansfield, Ben Trengove and staff have significantly Snook Taylor Kennedy Drake Wilson Spencer Mansfield Trengove
boosted William Buck’s audit and tax divisions and have grown the firm to 16 Directors and 125 staff.
William Buck’s expertise in business advisory, audit & assurance, tax and wealth advisory will provide CHARTERED ACCOUNTANTS & ADVISORS
even greater value to its corporate, SME and high net worth individual clients.
Call Managing Director Jamie McKeough to see how William Buck can make a difference to you or your business.
Level 6, 211 Victoria Square, Adelaide SA 5000 • Telephone: +61 8 8409 4333
Email: [email protected] • williambuck.com

STRATEGIC THINKING | TAILORED ADVICE | INTEGRATED SOLUTIONS

MSI Tilley merger announcement in The Advertiser, 2011

67

At the time of the merger, MSI Tilley was a classic case of “The idea of two firms disappeared very quickly, it was quite
a business where the leaders were working full time in the remarkable,” Dean says. Since 2011, the team from MSI
business, rather than working on the business. The firm was Tilley have been significant contributors to William Buck
heavily invested in its clients and with Paul and Dean looking Adelaide. Almost all of MSI Tilley’s clients remain with the
for an exit strategy, the merger was all about ensuring their firm today, along with a number of staff, many of whom hold
clients were well looked after and investing in opportunities senior positions, including Directors Grant Wilson, James
for younger staff. After meeting with two or three other firms, Northcote, Ben Trengove and Business Operations Manager,
Paul, Dean, Ben Trengove and MSI Tilley’s Managing Director Sharon Bowden. Despite sacrificing his leadership to ensure
Grant Wilson, came away “pretty disappointed”. However, a successful merger, Grant says he was able to pretty quickly
after a meeting with William Buck they felt confident they had become quite influential because of the opportunities the
found the right fit. William Buck had a strong agri and regional merger created for MSI Tilley’s staff. “William Buck felt like
presence which mirrored MSI Tilley’s client base, as well as a really good fit from the start,” Grant says. “There were a
a small firm ethos when it came to servicing clients. William whole range of reasons for that, but critically it was about
Buck’s direction in terms of developing specialist services looking after the interests of our staff and investing in the
was something MSI Tilley was trying to achieve. “We were future of our younger Directors.”
interested in their very mature Wealth Advisory division and
they were interested in our very strong Audit base,” Grant MSI Tilley merger – Directors Ben Trengove,
says. In addition, one of MSI Tilley’s clear strengths was Dean Spencer and Grant Wilson, 2011
its ability to build and maintain relationships with clients,
which resonated with William Buck. Dean describes the
integration of MSI Tilley into William Buck as seamless and
attributes this, in part, to the support of MSI Tilley’s Practice
Manager, Sharon Bowden during the merger negotiations.

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Chapter 2 | Growth and Resilience

Laucke Flour Mills

Mark Laucke, owner of Laucke Flour Mills can attest to of my business and where we intend to go. It’s a great
his company’s long association with William Buck and match and a great partnership!” Mark says that William
prior to that MSI Tilley. "Successions of people who’ve Buck is innately embedded in his business at everylevel. “I
worked with and created William Buck as we know it appreciate that because William Buck truly do understand
today have worked with each of the four generations of my business because they are part of it. William Buck, more
Lauckes who operated the flour mill,” Mark says. “John than anyone we work with understands partnerships. We
Tilley provided every form of financial advice and service to are willing and active partners working together for the
my grandfather. That has continued, so that William Buck best outcome for this business.”
today provides those same services to me. They are highly
valued because they suit my business, they suit the passion Grant Wilson, Director and Mark Laucke,
owner of Laucke Flour Mills

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In 2012, sole trader Terry Lewis (formerly from KPMG) joined professionalism of the firm. “Everyone was very friendly, and
William Buck as part of his retirement plan, bringing with him the camaraderie was great,” Terry says. “There were Friday
eight staff under the Lewis Richmond merger. According get togethers after work, lots of functions and the social
to those who have worked alongside him, Terry is a real club was really good. The Director group was very tight and
character and the last to leave the party. He stayed with a very friendly group to be part of. It was formal, but also
William Buck for seven years before retiring, but many of relaxed at the same time, and we had a good laugh as well
his clients are still with the firm today, among them the Fitch as getting things done. I was very happy at the end of my
Group. Terry says he decided to join William Buck based on career, it was a very good place to end up.”
the combination of the social side of things and the technical

Fitch Group

Originally a client of Lewis Richmond, the Fitch Group is which successfully transitioned into other ventures,
still a valued client of William Buck today. The business including BusTech (formerly Precision Buses), when the
bought the Brabham name and makes Brabham racing local auto manufacturing industry collapsed.
cars. More recently they have added the manufacture
of electric buses to their impressive portfolio. The Fitch Former Director Terry Lewis and
Group is an excellent example of an innovative business, Managing Director, Jamie McKeough at
the launch of Brabham Cars 2018

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Chapter 2 | Growth and Resilience

A subsequent merger with Flood Allen, was likewise a businessmen. This helped build Flood Allen’s impressive list
retirement plan for David Flood who merged his clients of investment clients, many of whom became millionaires
with William Buck Adelaide in 2014. David began working for as a result of shrewd investment in blue chip shares and
Ingleton Chambers & Co in 1963 and became a partner in first issues. David says the merger with William Buck was
1969. Over many years, the firm built strong relationships with all about finding a good home for his clients.
many wealthy clients, with a particular focus on investment.
As part of a succession strategy for these clients, David It was considered quite a coup in 2017, when William Buck
teamed with another firm called Cambrell & Allen. He and Adelaide was selected from a large number of firms all seeking
Michael Allen formed Flood Allen, but they kept their clients to acquire SP Accountants. Once again, this was a retirement
separate and Michael left the partnership in 1998 to set up plan for the firm’s Managing Partner Steve Pikramenos.
a practice with his son. Flood Allen’s office was located “Steve said when he talked to us, he felt very comfortable
next door to the Adelaide Club, where David was a regular and he thought we would be a good home for his clients,”
guest, giving him access to many of Adelaide’s leading Jamie says.

Michael Fairlie, Gary Hugo, Luciana Larkin and Ken Tregloan, 2019

Tregloan’s first client

When Ken Tregloan left Coopers & Lybrand in 1969 and the furniture, Ken asked the courier who did his tax.
started out on his own, he didn’t have a single client. The ”No one” the obliging courier replied. So, Ken offered to
story goes that he opened an office on Anzac Highway do his tax return, in exchange for the cost of delivering
and purchased a desk, a chair and a filing cabinet from the furniture. The courier agreed and promptly became
Office Disposals. When the courier arrived to deliver Ken’s first client!

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Tregloans Partners, Luciana Larkin and Michael Fairlie with Jamie McKeough, 2019

Tregloans merged with William Buck in 2019. Tregloans Business Advisory clients. At the time, William Buck was
was established in 1969 by Ken Tregloan who left Coopers dealing with managed funds in a small way, but the firm was
& Lybrand and went out on his own. “The firm had good eager to bulk up this part of the business. Scott is now a
clients, but it was a small firm looking for more opportunities Director of William Buck and heads up the newly formed
for its clients and staff,” Jamie says. Ken and fellow Partners Managed Funds Administration division.
Gary Hugo and Grant MacIntosh were quite entrepreneurial,
and they started up several of their own businesses. Both Scott MacKenzie, MacKenzie Advisory Merger, 2020
Ken and Gary are still clients of William Buck Adelaide and
former Partners at the time of the merger, Michael Fairlie and
Luciana Larkin are still working for the firm as a Director and
Consultant, respectively. Michael’s consistent performance
and safe hands have resulted in him being entrusted with
several high profile clients whose long-term relationship with
the firm is highly valued.

The mergers with Tregloans, Lewis Richmond, Flood Allen
and SP Accountants enabled William Buck Adelaide to bulk
up its Business Advisory division. Referrals flowing from this
traditional area of the practice supported the firm’s goal to
achieve critical mass in its specialist divisions, in particular
Wealth Advisory, Tax Services and Corporate Advisory. But
something else the firm was looking for in its mergers was
the opportunity to provide new services. So, in 2020, when
accountant Scott MacKenzie approached William Buck, the
firm jumped at the chance to secure his Managed Funds
Administration business, in addition to MacKenzie Advisory’s

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Chapter 2 | Growth and Resilience As with all mergers, some staff thrive because they are
presented with new career opportunities that their previous
Each of the mergers executed by William Buck Adelaide firm couldn’t offer.
has had successful elements, in large part due to the
Moore Stephens merger which paved the way for those The main beneficiaries of the firm’s expansion through organic
that followed. ”From that experience, we learned how to growth and mergers, are its clients and staff. Clients have
make mergers successful,” Jamie says. The firm presents benefited from access to a broader range of specialist
a transparent, fair and simple proposition which has proven services, while many of the firm's current Directors and
to be compelling to other firms looking to merge. Jamie staff have benefitted from the additional opportunities for
recalls being told by someone that their first merger was pormotion. For this reason, the firm is wide open to future
90% about the numbers and 10% about the people. When mergers, however, it will be discerning to make sure they
this was unsuccessful, they made sure their next merger offer sensible growth and fit with its strategy of providing
was 90% about the people and 10% about the numbers. the range of services that the mid-market needs. “We’re
Jamie says this rule of thumb has guided William Buck's not interested in pursuing growth for growth’s sake,” Jamie
approach to mergers. "We make it 90% about the people says. “It’s always about values and clients first.”
and 10% about the numbers, because it’s really important
that the people fit in,” Jamie says. "It has to have the right
feel about it and the two companies’ values must align.”

"We make it 90% about the people and 10% about the numbers, because it’s
really important that the people fit in. It has to have the right feel about it and

the two companies’ values must align.”

Kingsley Purdie

Kingsley Purdie, who served on the Board of William
Buck Adelaide from 1998 to 2006 says the growth of the
firm in the last 10 years has been quite exponential.
”They’ve done a wonderful job because absorbing
firms into the existing structure is a very difficult thing
to do. I really admire what Jamie and the team have
accomplished,” Kingsley says. ”To take on all these
acquisitions demonstrates a skill that can only be done
if you have the professionalism but also the people who
are committed to making that happen.”

Kingsley Purdie, William Buck
Adelaide Board Member 1998-2006

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STEP BACK IN TIME:
50TH ANNIVERSARY

In 1996, Giles & Giles celebrated its 50th anniversary. Mawson
Giles said at the time that he was pleased to see that while
growing steadily, the firm has maintained the stability, integrity
and emphasis on personal service that were the basic
business tenets on which he and his brother founded the
firm. A publication to celebrate this milestone claimed, “The
stability of the Giles & Giles team has been one of the firm’s
great strengths across this first 50 years. Partners and staff
alike, have enjoyed being part of this business family and
terms of employment stretching over decades have been
frequent occurrences. Likewise, a lot of clients have stayed
with Giles & Giles for many years…in some cases, with the
association passing down the generations.”

Right: 50th anniversary Giles & Giles story, 1946-1996
Below: Giles & Giles newsletter, 1996

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Chapter 2 | Growth and Resilience

FUTURE
PROOFING
THE FIRM

Two stand-out examples of how the firm has been able
to support its growth are its commitment to building the
William Buck brand and the uptake of new technology.

One of the hallmarks of successful businesses is their ability level. These three factors enable the firm to think through
to react quickly and effectively to change. Today’s firms all available options, make decisions and act upon them,
have to be dynamic. They have to try things and if they without getting bogged down by politics or procrastination.
don’t work, they have to throw them out and come up with
something new. William Buck Adelaide demonstrates this After reaffirming its commitment to the William Buck Group
agility, due to the combination of its openness to new ideas, and moving into the CBD, William Buck Adelaide decided
its strong leadership and the high level of cohesion at Director to invest significantly in building the William Buck brand

Jamie McKeough and Marc Makrid, Marketing Consultant

75

through the Australian and NZ alliance. Marketing consultant now a serious player in the market. The LED signage and
Marc Makrid has been involved in supporting William forging an invaluable partnership with Business SA, have
Buck Adelaide’s marketing activities since 2004. He was helped place William Buck Adelaide in an elite group of
instrumental in helping the firm understand the intricacies of Adelaide’s most successful companies. As well as building
branding, as well as building its resources in this area, firstly the brand locally, the LED signage has helped promote
by assisting in the recruitment of Marketing Manager Jody the William Buck brand nationally, with a very large client
Heptinstall in 2006, the first full time marketing manager, to engaging William Buck Sydney as a result.
drive the firm’s marketing strategy. Jody’s relentless execution
of the marketing plan is fundamental to its success over Jody Heptinstall, Marketing and
many years. Business Development Manager
William Buck LED signage around Adelaide Oval
According to Marc, it was critical to get the foundation
right before the firm was ready to move to the next level.
“The Directors needed to understand the significance of
the brand was not just about a logo and advertising, but
it had a much wider frame of reference, which included
client interaction and understanding relationships,” he says.
Following this education process, William Buck was ready to
start positioning key sponsorships and connecting itself with
credible brands. One direct learning from Praxity firm MNP
in Canada, which sponsored the ice hockey in Vancouver,
culminated in William Buck Adelaide signing up for LED
signage at Adelaide Oval in 2014, for the Adelaide Crows
and Port Power AFL teams’ home games. The impact of this
was immediate! There is no doubt that the firm’s marketing
has taken a quantum shift from where it was in 2004. It is

76

Chapter 2 | Growth and Resilience Martin Haese, Chief Executive Officer of Business SA, works
closely with William Buck through a partnership which
Across Australia and New Zealand, the William Buck Group facilitates a substantial quarterly business confidence and
has worked hard and invested heavily to build its brand. conditions survey for South Australia. He says William Buck’s
There is agreement that the William Buck brand should be brand recognition is growing exponentially based on the fact
so valuable that no office wants to leave the Group. At the it is an extremely stable, sustainable and reliable organisation.
same time, there is an understanding that while it is the “I think in many ways their brand is their people,” Martin
Group Board’s responsibility to protect and promote the says. “They are very good people to deal with and I look
brand, there needs to be some flexibility to allow every office at businesses as ultimately about people. Their people are
to thrive in its own market. As in Adelaide, the development very proactive and professional and very genuine in their
of William Buck Group’s marketing strategy has been a slow approach.”
burn, which gained momentum once Marc Makrid became
involved in 2010. When he first met with the Group Board, "Across Australia and New Zealand,
Marc said it was clear the Group’s brand strategy was limited the William Buck Group has worked
and they didn’t see the individual offices as having much in hard and invested heavily to build its
common. However, they were passionate about the brand
and in a relatively short period of time they went from a very brand."
rudimentary understanding of marketing to an advanced
understanding and commitment to it. Marc explains that Martin Haese, CEO of Business SA, 2021
because accounting is a personal exertion business, you
can say whatever you like about the brand, but if it all falls
down when you meet somebody then it’s a waste of time.
Therefore, investment in people is critical to make sure the
brand and the behaviours are aligned.

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STEP BACK IN TIME: a critical factor limiting the growth and the thought process
FREE PRESS of the firm. But this all changed on 1 April 1984, when
the Institute of Chartered Accountants in Australia and
Today, accounting firms are freely able to promote their the Australian Society of Certified Practicing Accountants
services, through advertising and business development changed their policy with regards to advertising and publicity.
activities, but this wasn’t always the case. Former Senior This was in line with overseas trends and other professional
Partner Peter Brock recalls that until the 1980s, the accounting bodies which allowed accounting firms to inform the general
profession was banned from advertising. He says this was public about their activities and services. Under the new
rules, advertising and publicity were permitted, provided
"In July 1984, Giles & Giles published that the content or nature of advertising or publicity was not
its first newsletter. As well as false, misleading, deceptive nor reflected adversely on the
profession. Direct uninvited solicitation of a specific client
advertising its professional services was still prohibited. From this point on, Giles & Giles began
to clients, the newsletter was used to advertising its services with a view to attracting new business.
inform clients about staff changes and In July 1984, Giles & Giles published its first newsletter. As
update them on legislative changes." well as advertising its professional services to clients, the
newsletter was used to inform clients about staff changes
and update them on legislative changes.

First Giles & Giles Newsletter, 1984

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Chapter 3 | Our Values and Culture

PARTNERSHIPS
AND ALLIANCES

1

2 3
5
4

79

6

78

1 Christopher Pyne (Former Defence Minister) presenting at the William Buck Adelaide 2022 CFO Summit
2 David Basham Minister for Primary Industries and Regional Development of SA with Director Aaron Trombetta and

Kingsley Songer
3 Director Matthew Illman and Senior Accountant Peter Davis at the ThincLab eChallenge Awards, 2021
4 Director Matthew Illman presenting an award at the InDaily 40u40 awards
5 Directors Andrew Barlow, Lee Fuller and Paula Liddle at the Paskeville Field Days, 2019
6 Wealth Advisor Eben Lok presenting at the Womens and Childrens Gala Ball, 2021
7 James Northcote presenting at the SA Produce Market
8 William Buck Group Health Team at the RACGP Practice Owners Conference in Hobart, 2022

80

Chapter 2 | Growth and Resilience
LOGO EVOLUTION
MARKETING EVOLUTION

WEBSITE EVOLUTION
81

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Chapter 2 | Growth and Resilience

As well as helping build the William Buck brand across Australia it engages with them relies on technology more than ever
and New Zealand and leveraging off this at a local level, before. Technology has also impacted on the firm’s internal
William Buck Adelaide has kept pace with the rapid changes in procedures, including the transition from desktop to all staff
technology. Like other professions, the accounting profession having their own mobile devices in 2015. Five years ago, there
has been subject to digital disruption for decades. And while was still too much paper floating around and there was an
technology can threaten jobs, it has simultaneously created opportunity for greater automation. However, in the last few
new tasks, including generating new information to advise on. years, the firm has made excellent progress to improve its
William Buck is in the business of providing advice to people internal working practices. By the time COVID-19 arrived in
and according to Jamie, the bottom line is that people still early 2020, the William Buck office was substantially paperless,
want to deal with people. “When we’re giving people high which meant an easier transition to working from home.
level advice there’s no substitute for sitting around a table The investment in mobile devices to enable all staff to work
and nutting it out,” Jamie says. There is no doubt that the whenever and wherever paid off, because when everyone
rapid changes in technology have, and will continue to have, went home overnight and put their computers on, it worked!
an impact on how William Buck interacts with its clients. Jamie admits the firm wasn’t as quick on the uptake of working
The way the firm provides information to clients and the way from wherever. “But COVID proved we could do it,” he says.

"Our entire team is encouraged to The pandemic certainly played a role in fast-tracking the uptake
share ideas for better ways to do of online meetings and online seminars with clients and staff,
things. With continual improvement however, the firm still values face-to-face interactions. “I think
at the forefront of all our team, our you need to have both, but I think the combination of online
Kaizen committee pulls our ideas and face-to-face will be more powerful than what we’ve had
together to share across the firm and before,” Jamie says. Another benefit of technology has been
the speeding up of data processing and more sophisticated
learn from each other." accounting software which has helped the firm improve its
efficiency. This enables staff to spend more time with the
– Sharon Bowden, Business Operations Manager clients adding value to their businesses, rather than spending
all their time on compliance-related tasks.
83
Today, William Buck has a “Kaizen” committee, Kaizen being
Japanese for “continuous improvement”. The task of this group
is to ensure the firm continues to embrace new technology, to
use technology more effectively, to drive process improvement
and eliminate waste. Business Operations Manager, Sharon
Bowden, says "We’ve always had a focus on becoming more
efficient, but it’s become more of a key focus today than ever.
Our entire team is encouraged to share ideas for better ways
to do things. With continual improvement at the forefront of all
our team, our Kaizen committee pulls our ideas together to
share across the firm and learn from each other. Improvement
is key and whether large or small should ultimately result in a
better experience for our clients and our team.

Sharon Bowden, Business Operations Manager

Bill Hermann, Former Managing Coming of Age
Director of Michigan-based Plante Moran
Bill Hermann recently reflected on how far
"We've always had a focus on the William Buck Group has come since being
becoming more efficient, but introduced to them in 2010.”What I saw was them
it's become more of a key focus as a group espousing ‘we’re going to start with
today than ever, because if you our vision, we’re going to move to strategy, we’re
don't embrace technology you're going to get everybody aligned and we can deal
with change, be that regulatory change, technology
left behind." change or just world environment change. It proved
they can do that.”
– Jamie McKeough
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Chapter 2 | Growth and Resilience

STEP BACK IN TIME: Over the years, Giles & Giles, and later William Buck Adelaide,
LOOK HOW FAR has been consistent in its approach to new technology. While
WE’VE COME the firm lays no claim to be bleeding edge, it has always been
leading edge. Even in Mawson Giles’ time, the firm was seen
For the accounting profession, it has been a long journey as a leader in technology when it introduced its first accounting
from the days of time-consuming manual bookkeeping to machine. David Giles remembers his father’s pride when
instant online lodgment. Information is now available at the Mawson received a phone call from one of the Big 8 accounting
touch of a finger or a voice-activated command! According firms to see if they could come and look at the machine because
to Debbie Colebatch, the journey can best be described as they were still using double entry bookkeeping. After Mawson’s
“big staggers in technology”, particularly since she joined retirement, Peter Brock was tasked with bridging the firm’s old
the firm in 1989. Debbie gradually moved from her full-time systems with new technology, in particular the introduction of
accounting role with Giles & Giles into a full-time IT role, computers. He admits he wasn’t the natural choice as he was
when her hobby of computing “went berserk”. She says almost computer illiterate! “The first computer we had was a
specific points in time, such as new superannuation rules, Wang Paxus computer system, with hundreds or thousands of
legislative changes affecting fringe benefits tax (FBT), the floppy disks; one per client,” Peter says. Once Peter assumed
goods and services tax (GST), capital gains tax (CGT) and the role of Senior Partner, he identified “The Electronic Office”
the millennium bug (Y2K) have all impacted on the uptake as one of six areas of focus in the ‘Giles & Giles Plan for the
of technology. Future’. "As with all facets of life, the future would appear to
be one of increasing productivity and this will be achieved by
the use of electronic equipment,” the report said.

Former employee Michelle Wehr using the firm's first computer, 1976

85

On the Internet

In 1997, a Giles & Giles newsletter included the following
story: “Keeping pace with ever evolving technological
developments, Giles & Giles has now got on the
information super highway,otherwise known as the
Internet. This means that our electronic “mailbox”
is now open for business and you can e-mail us on:
100357,235 (for users with a Compuserve account) or
100357,[email protected] (for non-Compuserve
users).”

Right: Giles & Giles newsletter article, 1997

In 1983, the firm’s two Wang computers were replaced with Kent Sharp, IT Manager
a new Hartley system, with 128MB of storage (less than a
USB stick today), four terminals and two printers. In addition,
to handle general accounting, debtors and wage records,
the system had integrated word processing for producing
financial statements. In 1988, the firm’s computer system
was once again upgraded, with the installation of 16 IBM
terminals and one printer. For the first time, clients’ tax returns
were prepared on computer. PAXUS accounting software was
later introduced which gave the firm the ability to monitor and
immediately act on the latest tax changes and investment
advice. Finally, in 1997, the internet arrived at Giles & Giles,
enabling the firm to lodge tax returns electronically and to
send and receive emails. To support the increased uptake
of technology, William Buck has continued to expand its IT
team, including the appointment of IT Manager Kent Sharp
in 2013, whose considerable skills have taken the internal
IT capability to the next level.

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Chapter 2 | Growth and Resilience

CHAPTER 2
SUMMARY

Adelaide Oval LED signage

87

"William Buck is here for the long
haul and the firm’s commitment
to long-term sustainability is
something it espouses to clients."

Over the last 20 years in particular, William Buck has and our decision making is always about what’s best for
demonstrated tremendous growth and resilience. During the long-term.” Another way that William Buck is able
this time, accounting firms have come and gone, but to survive is by staying ahead of the curve, not just in
William Buck has proven its ability not only to survive, adopting the latest technology or in the way it manages
but to prosper. This is a credit to everyone who has the business, but in how it gets involved with clients.
been a part of the journey. Prior to the Moore Stephens The firm proactively talks to clients about things that
merger in 2009, the firm had 75 staff. Today it has almost might need to be contemplated in two years’ time, to
200! In terms of future growth, Jamie says William Buck warm them up for when that need arises. Jamie says
will not be limited by the notion that it can’t be bigger that in the very simplest terms, the firm helps people
than the Big 4 accounting firms in Adelaide. “We’ll be and businesses make good decisions! William Buck’s
as big as we need to be,” he says. William Buck is track record is one of sustainable growth and resilience.
here for the long haul and the firm’s commitment to Whether it be through the integration of merged firms,
long-term sustainability is something it espouses to adapting to new tax legislation, digital disruption or a
clients. “We would never advise our clients on some global pandemic, William Buck has remained committed
opportunistic, get-rich-quick type thing,” Jamie says. to its core values and firmly focused on its vision to be
“There is nothing wrong with get-rich-slow. Our client the leading accounting firm in Adelaide.
and staff relationships are about long-term sustainability

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3

89

Our Values and Culture

90

Chapter 3 | Our Values and Culture

OUR VALUES
AND CULTURE

To be a William Buck person, you must be genuine,
grounded and caring. You must demonstrate
ambition and drive. You must be willing to go above
and beyond when it comes to servicing clients.

OUR VALUES When considering William Buck Adelaide’s values today, they
are remarkably similar to those demonstrated by Mr William
C COLLABORATIVE Buck and Ken and Mawson Giles. These men, founders of
Together we can achieve amazing things William Buck and Giles & Giles, which evolved into William Buck
Adelaide, never committed their values to paper, however, they
A ASPIRING demonstrated them through the way they served their clients
To unlock the potential in everyone and related to their staff. Today, the values of William Buck are
written down for all to see: CARE - Collaborative. Aspiring.
R RELATIONSHIP DRIVEN Relationship-driven. Enterprising. But what do they really mean?
In everything we do For staff, these values are summed up quite simply by the
phrase ‘a William Buck person’. Coined by Deputy Managing
E ENTERPRISING Director Martin Hill, this has become a useful measuring stick
Innovative in our approach which ensures that staff at William Buck reflect the firm’s values.
To be a William Buck person, you must be genuine, grounded
and caring. You must demonstrate ambition and drive. You
must be willing to go above and beyond when it comes to
servicing clients.

91

Successful businesses have their values embedded in their person.” Interestingly, Henry has never met Dennis, yet these
culture. In the early days, the culture of William Buck and Giles words are right out of Dennis’ mouth. It’s a strong indication
& Giles was what you would expect in a traditional, conservative that the firm’s culture is deeply embedded and is being passed
accounting firm. The firm’s values were central to this culture on from one generation of staff to the next.
which epitomised good, old-fashioned service, integrity and
respect. Over the years, however, the firm’s culture has adapted Former Managing Director, Dennis Laundy, 1987-2006
and changed with the times. This evolution has been influenced
by key individuals, including Dennis Laundy who orchestrated "The thing that's always been there
the first significant cultural shift. When he became Managing is that people genuinely care. You
Director in 1987, Dennis wanted the firm to become less “old care about your clients and your
school” in the way it did business, while still maintaining the Giles’ colleagues. You become invested in
brothers foundation values of genuine care for their clients and
staff, integrity and excellent customer service. Dennis set about their issues and want to help.''
changing this culture, firstly by moving on a couple of staff and
recruiting younger staff. It didn’t happen overnight, but in time, a – Dennis Laundy
more contemporary culture took hold at William Buck, one that
above all else, values people and relationships. You may recall
Jamie McKeough’s words, “Without long-term relationships we
don’t have anything.” Today, in its sixth generation, the ability
to build strong, loyal relationships is entrenched in the DNA of
William Buck. It’s a wonderful attribute and one for which the
firm is highly regarded.

Jamie recalls a former Managing Partner of Praxity firm MNP in
Canada, saying the best way to protect your culture is “be careful
who you let in”. As a result, the firm’s recruitment philosophy
has always been value based. Director Andrew Barlow tells a
great story about his second interview with former Managing
Director Dennis Laundy. “In the interview, Dennis told me a lot
about the firm’s culture,” Andrew says. “He wanted a personal
reference, so he rang a friend of mine and he literally asked for
my life story. My friend said, ‘you wouldn’t believe the questions
he asked’. I thought that line of questioning was unusual, but
then I thought ‘at the end of the day if he cares that much
about the values of someone who is going to join the firm,
then that’s a good thing’. It showed to me how much they
cared about the culture.” This anecdote demonstrates William
Buck’s inclination to recruit staff with values aligned to its own.
Business Advisory Manager Henry Schofield sums it up like this;
“You can teach someone how to do the numbers and teach
them tax laws or whatever their area is, but if someone isn’t
the right fit for the culture you can’t teach them to be a better

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Chapter 3 | Our Values and Culture

William Buck Adelaide has several cultural safeguards in place the ultimate litmus test and whether it be committing to a
to ensure that the firm’s values are not compromised. Firstly, merger, or adding a new service, the impact on clients is the
there’s the “no dickhead policy”, an adaptation of Plante firm’s number one consideration. This approach helps drive
Moran’s “no jerk” policy. This accepts that while everyone the firm’s culture, because Directors and staff are motivated
can be a dickhead now and then, they can’t be a dickhead by what’s good for clients and the firm, ahead of their own
all the time. While this policy mainly refers to the behaviour of personal agendas. It is acknowledged that everyone wants
Directors and staff, it also applies to clients. Wealth Advisory to get ahead in their career and the firm encourages this,
Director Andrew Barlow says 99% of the firm’s clients are but not at the expense of someone else. It promotes an
lovely. However, he says occasionally the firm has to deal with environment that is supportive, rather than competitive.
a particularly unreasonable client. “If it is considered they are
being unreasonable then we are better off letting them go,” Collegiality at the Director level is critical to the supportive
Andrew says. “We try to work with difficult clients and get them culture at William Buck and the firm’s ownership structure
to change, but we’re not prepared to keep them for the sake enhances this. Around the Board table, Directors talk until
of the money.” Andrew says the firm supports this approach, they get to the point where everyone’s happy with a decision.
acknowledging that it is unhealthy for staff to have to deal with They only vote once a year to decide who wins the coveted
continual bad behaviour from clients. staff awards! Deputy Managing Director Martin Hill says
that when he interviews graduates, they often ask what
Another important safeguard of the William Buck culture is he most likes about working at William Buck. “The thing I
making sure that clients are always the first priority. “One of always say is how well the Director group gets along,” Martin
our core philosophies is that what’s best for our clients will says. “Everything starts at the top with the leadership. If
be best for us,” Jamie says. “If we’re ever confronted with a we don’t get along the whole firm can struggle.” Recently
difficult decision and we could go this way or we could go retired Director Malcolm Wight, agrees that cohesiveness is
that way, we will say ‘well what’s best for our clients’.” That’s incredibly important to the culture. Having initially worked at
Giles & Giles for 16 years, then worked for another accounting
No jerk policy firm for 17 years before returning to William Buck, Malcolm
has a unique insight. He says it was clear when he returned
The ’no jerk policy’, or ‘relatively jerk free policy’ to the firm just how cohesive its leadership group was. “I
was started by Frank Moran, the founding partner always suspected that from the outside, but it was confirmed
of US-based Plante Moran. Bill Hermann started sitting around the Board table how well the Directors got
working for the firm in 1971 and recalls that the on,” Malcolm says. “That’s the best part of this firm. They
concept first came up when Frank was having a are all heading towards a common goal. People here look
relatively bad day and he snapped at someone, through the lens of the firm and it filters right down through
which was totally out of character. He said, ‘well the organisation.”
so much for not having any jerks, but I guess
it would be fine if you were relatively jerk-free As Malcolm points out, it’s critical that the Directors are
because everybody has a bad day, you just can’t all singing from the same hymn sheet. By embodying the
have one everyday!’ Bill says the ‘no jerk policy’ firm’s values and taking a genuine interest in their clients,
is still referred to at Plante Moran today and is a they collectively set an example for other staff. Having an
huge part of the firm’s culture. aligned group of Directors is one of William Buck’s greatest
competitive advantages. It strengthens the firm’s culture by
ensuring the values are deeply embedded in the firm’s DNA.
While William Buck Adelaide is no longer family-owned, it still
feels like a family company. Bill Hermann says on a recent

93

visit he observed that the staff at William Buck genuinely like Staff are encouraged to participate in the Social Club activities,
one another and spending time together. “There was a level and also come together for Friday night drinks in the office,
of engagement that was like a family that hadn’t seen each a tradition that started back in the 1970s. Once a month the
other for an extended period in time,” Bill says. “I think that long-running Billy Bucks Club (BBC) hosts an informal evening
the relationship that they’ve developed among the Partners for staff, during which employees are presented with awards
and the staff is outstanding and something to emulate. They and staff have an opportunity to unwind with their colleagues.
have a good time, they work hard. It’s kind of neat to see the While staff at William Buck take the professional side of things
way their spouses are engaged. It’s not just the folks who very seriously, they know how to let their hair down and enjoy
are at the firm, it reaches into the family. And that, I think, themselves. It’s an attribute which helps them stay grounded
would be aspirational. It is to me and to many folks at Plante and contributes to stronger relationships with their clients and
Moran.” Director Paula Liddle agrees that there is a strong colleagues. People and Culture Director Tom Laundy says
family culture at William Buck. When something goes wrong that while everything in the workplace is a lot more controlled
everyone pitches in to help! “I feel like part of the family, I feel today, it’s important to take opportunities to have fun when you
like part of the furniture,” Paula says. “When I first started can. “We like to remind people that not everything’s serious
at the firm, within about three months I needed some leave and it’s OK to have a joke,” he says.
because I had a tumor in my throat and Dennis said, ‘don’t
worry about it’. That caring side of it was very important to
me. It feels like a family company.”

William Buck Christmas Party, 2021

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Chapter 3 | Our Values and Culture

SOCIAL CLUB

95

STEP BACK IN TIME: it’s worth doing properly.” But above all else, Ken and Mawson
FOUNDATION VALUES were renowned for their deep consideration of clients. Mawson
said while other firms just sat in Adelaide and expected people
William Buck Adelaide’s values today are remarkably similar to to come and see them “we went very much out of our way to
those demonstrated by the firm’s founders, Ken and Mawson please our clients.” Their concern for clients, extended to the
Giles. Mawson described Ken as a quiet, compassionate hardworking, loyal and knowledgeable staff at Giles & Giles. In
person. The brothers were good friends and worked well the early years, Ken and Mawson introduced a profit-sharing
together, often sharing the same thoughts. In fact, Mawson scheme to reward staff, saying they “felt these people were so
often said they couldn’t have been closer if they were twins. good in all ways that they deserved to be recognised”. Among
Perhaps the difference of 14 years in age may have helped, those to benefit from the profit sharing were Doris Brokensha,
but their views and thoughts on all subjects, both personal and Bruce Giles who joined the firm in 1950, and EC Dunstone, or
business, coincided absolutely. Mawson said there was never Mac, as he was known.
any difficulty reaching decisions and clients and staff benefited
from the overriding sense of stability that existed in the firm. "The firm's values were a strong
reflection of the Giles' brothers,
The firm’s values were a strong reflection of the Giles’ brothers, who were invariably described as
who were invariably described as decent and honest men.
Former Managing Director Dennis Laundy knew Mawson before decent and honest men."
he started working for Giles & Giles. His wife, Peta, lived across
the road from Mawson and his wife Sylvia in Athelney Avenue, The family values of the firm were clearly evident to clients and
Brighton. Dennis says Mawson was the main reason he left staff, as well as to Ken’s and Mawson’s children. Mawson’s son,
his job at Irish Young & Outhwaite and joined Giles & Giles. “I David, recalls that in his childhood, his family spent many happy
had a lot of respect for him, he took the time to say hello which days with Ken’s family, blackberry picking in the Adelaide Hills
he didn’t have to do,” Dennis says. “I thought that’s a good and enjoying beach picnics at Sellicks Beach. When Giles &
characteristic. He seemed to be genuinely interested. I was Giles held staff picnics, Ken and Mawson’s parents would join
attracted by that trait.” Accountability and integrity were also them, adding to the strong sense of family that characterised
important to the two brothers. Ken’s eldest son, Bruce, recalled the firm.
one of his father’s favourite sayings was “if a job’s worth doing,
Mawson and Sylvia Giles

Froth and Bubble

According to his daughter, Sue, one of Mawson’s
Giles favourite sayings was:

"Life is mostly froth and bubble
Two things stand like stone:
Kindness in another's trouble,
Courage in your own."

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Chapter 3 | Our Values and Culture

OUR EMPLOYEE
CARE PLAN

Empowering one another to succeed
through the CARE values, enables the
firms staff to reach outstanding results
personally and professionally.

Directors and staff at William Buck Adelaide are on a learning Director Paula Liddle is one of the beneficiaries of William
curve when it comes to work/life integration. Until quite recently, Buck Adelaide’s flexible work practices. When her son was
the firm’s workplace practices offered limited flexibility. Staff were young, he was unwell on a regular basis and Paula would
required to work set hours and take their lunch break between have had to take a large amount of carer’s leave if she wasn’t
1 and 2pm. Working from home was the exception, rather than able to work from home. “Even when I became a Principal
the rule. This was largely because the client-centric nature of and a Director, I would struggle to juggle work and family
the business did not lend itself to accommodating individual commitments if I had to come in the office every day,” Paula
preferences en masse. At that time, flexibility was earned rather says. As it has for many businesses, the pandemic accelerated
than available generally, however, there were many approved the firm’s thinking in regard to workplace flexibility. Staff can
arrangements in place. One of the advantages of the firm’s now request to spend a regular or ad-hoc day working from
growth is that it is now of a scale where greater flexibility is home, whether it is for a personal appointment or to complete
a real option. Learnings through Praxity and the experiences project work in a quieter environment. In terms of accessing
of senior staff who have come to William Buck Adelaide from the William Buck network and clients, staff working remotely
other firms, have also contributed to a more contemporary have never been more connected. Whether they need to
workforce with a strong focus on work/life integration. The arrival access client files, or communicate with clients or other staff,
of COVID-19 in March 2020, forced the firm’s staff to quickly they have mobile phones, emails, the intranet and webinars
adapt to working from home and provided a valuable insight at their fingertips. Despite working from home being a real
into how this impacted staff and clients, as well as the firm’s option, Jamie says he doesn’t see this becoming the norm
productivity. Since the pandemic, staff say they feel they have for everyone. “The reality is we work better when we are
earned the trust of the firm and as a result they are much more together,” he says. “However, the flexibility of working from
comfortable asking to work from home on an occasional basis home on a regular basis is certainly helping our staff juggle
when there are personal reasons for doing so. their professional and personal commitments.”

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Senior Accountants, Danielle Gibb and Alyce Hardstaff

Above: Eben Lok, Wealth Advisor and Emma Kittel, Operations and Marketing Advisor
Right: James Dodd, Paraplanner and Cain Meschiati, Director

"Committed to forging an inclusive culture, we embrace diversity and
listen to all voices. We promote from within and build tomorrow’s
leaders today."

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Chapter 3 | Our Values and Culture Wellness is an important part of business in today’s world and
William Buck’s Directors understand that it is their responsibility
Chargeable hours have their place in the accounting profession, to develop the person as well as the professional. They take
however, at William Buck Adelaide, this is not the only thing a holistic approach to wellbeing, demonstrated through the
individual performance is measured on. One of the firm’s firm’s Personal Development Program, which supports staff
philosophies is that it’s 50% about the numbers and 50% to pursue personal interests. This initiative started out as a
about everything else. There has to be a balance between wine tasting class to educate staff about South Australian
getting the job done and spending time with family and friends. wine, but it has now broadened to cover a wider range of
William Buck acknowledges that improved communication interests. Staff can participate in anything from photography
technology has made it harder to achieve work/life integration classes to golf lessons or yoga. It’s all about developing them
because it has resulted in more personal intrusions at work as individuals and encouraging them to stay active and healthy,
and more work intrusions at home. Of course, staff have the in body and mind. To support the mental health of its staff,
option to turn their phones off, but that’s not the reality! In William Buck also provides an Employee Assistance Program
recognition of the fact that the firm’s Directors deal with work which offers a confidential, 24-hour counselling service to
matters when they are on leave, they receive six weeks annual staff and their immediate families.
leave each year, instead of the usual four. The firm also offers
a sabbatical for Directors every seven years when they are
given five weeks off work to refresh. During this time, they
are encouraged to turn their phones off and take a genuine
break in the hope that this will extend their careers. Jamie says
people often get a decent break when they resign and change
jobs, but many of the William Buck Adelaide’s Directors have
never changed jobs. “Without the sabbatical they wouldn’t
have the benefit of a long break,” Jamie says.

"One of the firm’s philosophies is
that it’s 50% about the numbers
and 50% about everything else."

Above: Paula Liddle, Director, Business Advisory
Left: Becky Yap, Senior Accountant

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