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Straw Poll

What's your fee income looking like this year up, down or about the same in percentage terms.

What are your expectations/predictions for the rest of the finacial year?

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22nd Sep 2011 13:22

Pretty good - but we are still only 4 years old

Fee income is currently up around a third on last year (which was a bad year for us with fee income actually falling by 5%!)

That said we are still a young and growing firm.

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About the same - haven't actually checked.

We raise fees annually more or less in line with inflation, but have noticed two things.

There are less subcontractors about due to the recession in the building trade.Some clients are taking a bit longer to pay.

 

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By Monsoon
22nd Sep 2011 14:24

Don't know.

Business got restructured end of last year (2 partner firm, now just me), so it's difficult to tell.

It's a lot better than my projections were at the time though!

Fee income for this financial year to date is 2/3 of what it was last financial year to date under the previous structure, so I think that's a good increase, comparatively speaking.

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By Jimess
22nd Sep 2011 15:45

Pretty much the same as last year but have observed similar things to Monty Python.  Also clients are dawdling on getting their books in this year despite reminders & offers to collect which is a bit worrying - probably hanging out payment of fees as far as possible.  Our cut off date for accounts needed for 31 Jan is end of October and although we are getting a steady stream of books and records in, some clients who normally get them in much earlier have stretched it out quite a bit.  Have had a few good ad hoc assignments this year though that have proved fruitful. New client enquiries went a bit slow in early summer but surprisingly enough considering the doom and gloom out there they are picking up again now. All things considered I think we are probably going to meet our target fees this year but may have to pull in more temporary help to get there if some clients don't get a wiggle on & get their books in soon. So fees doing OK ish but probably will cost more to achieve target this year because of clients holding on to the last minute causing work to bunch up.

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