Fortunity Focus Magazine 2013 - PrimeGlobal

2013 EditionIn this issueIntroducing PASFinancial Check Up-Are You OrganisedFortunity Training - Jetsetting to AfricaFortunity In The CommunityThe Fortunity Audit ApproachPrime Global

WELCOME TO THE FOCUSHappy New Financial Year!... and what a big year it has been. We successfully launched our partner business Fortunity Training, we madeBRW’s Top 100 Accounting Firms, recruited new cadets and the mighty Central Coast Mariners took home the Premiership!The introduction of Fortunity Training is particularly exciting for me because it has provided a new service to clients that have endlessbenefits from a business efficiency point of view. It has also taken our business international which you can read about on page six.As this magazine highlights, we think it’s important to continue to grow our business so we can offer extra value. We invest a great dealof energy into our brand, our people and most importantly growing our local community and weare very grateful for the support we have received in return.We hope you enjoy reading this edition of The FOCUS that we are now preparing annually. It’s agreat opportunity to share with you what’s happening in our firm, some good news stories fromour ongoing community involvement, hear about some of our clients’ experiences, aswell as keep you informed with important industry updates.Go the Mariners!Cheers,Tim CullenDirector of FortunityCentral Coast Grammar SchoolBuilding a new Performing Arts CentreCentral Coast Grammar School (CCGS) is a leading independent school with outstanding teachers who help students develop both intellectual andmoral strength. CCGS students thrive within a culture of excellence where effort is rewarded and achievement is viewed as normal. Students canwork to their own potential and achieve their personal best both within and beyond the classroom.CCGS has begun construction of a new facility to provide an enriching learning environment across the broad spectrum of performing arts.The plans for a new multipurpose performing arts centre include a 750 seat tiered theatre and a range of associated specialist facilities includingmusic and drama classrooms, tutorial, orchestra and practice rooms. The new building will allow for all of the Junior School or all of the SeniorSchool to be seated at one time. Extensive foyers will provide a spacious venue for school and community gatherings. Being a former CCGS parentand also being on the board of the school, Tim Cullen is very supportive of the school’s constant drive to progress forward and provide moreopportunities for local students.

Introducing PAS - Portable Analytical SolutionsClient in FocusPortable Analytical Solutions (PAS) wasfounded in April 2009 by Paul and AlexMartin. After spending 2 years in the USAas Director of Product Management forThermoFisher Scientific, Paul was offered anexclusive distributor agreement in Australiaand New Zealand for the Niton XRF productline from ThermoFisher Scientific.Paul has been in the scientific analysisindustry since 1990 working in Australia,Hong Kong and the USA for some ofthe world’s largest science technologymanufacturers.Alex has a background in Design andMarketing, working with large advertisingagencies and Australia’s leadingthoroughbred stud Arrowfield for manyyears prior to starting a family and travellingwith Paul. Alex now takes on the Financialand Strategic role within PAS. Alex and Paulhave 2 children Kaitlin (9) and Ben (6), whooften frequent the PAS office after school.PAS have been a client of Fortunity sincetheir humble biginnings back in 2009. TheirBusiness Advisor and Director of Fortunity,Paul Bolton has seen the PAS business growfrom strength to strength. “It has been greatto watch them (PAS) develop from a smallfamily operation to a strong, successfulbusiness model” said Paul.PAS started off with just 3 employees in 2009and has now grown to include a fantasticteamof 10, withoffices in Melbourne andPerth as well as Erina.“Our first office was started in Copacabanaon the ground level of our home. The floorwas concrete (which Paul painted to keepthe dust down) and we had a few old diningtables being used as desks. In winter it wasfreezing with just the old oil heaters doingtheir best. Slowly but surely some lino wasadded to the floor, some ‘real’ desks andeventually an air conditioner!” says Directorof PAS, Alex Martin.PAS sell, service and offer technical supportfor the various scientific products theyrepresent. All of the PAS products areportable, supplying technology in a handheldformat that has allowed their clienteleto save time and money not having to uselarge laboratories for analysis. PAS clientelerange from the Mining Sector to ScrapMetal, Engineering and Manufacturing,Environmental, Agriculture and PreciousMetals buyers.Portable Analytical Solutions’ products offertheir clientele a wide range of solutions,which vary depending on their analysisrequirements. For example, a miningcompany can know exactly which elementsand at what percentages they are goingto get out of the ground right there at thedrill rig. This means no more taking samplesand sending them off to a lab for expensiveanalysis and waiting days to get the results.“PAS are planning on some new productsto expand the solutions we can offer ourexisting andnewclientele. le. There are someinteresting ing products that are still in theresearch anddevelopment elopphase andwehopeto see progress ressin 2013” saysAlex.PAS Join the Balmain to Bamanga BashPAS has been fortunate through hard workand loyal employees to have grown andmatured into a great sales and servicecompany.With this in mind PAS wanted to give backto the community. Starting last year withthe purchase of a 1965 Valiant Wagon, theyjoined Variety the Children’s Charity in their2012 Balmain to Bamaga Bash. The PAS Car251 raised an amazing $35,000 in their firstyear for Variety.Car 251 is now in preparation for this year’sBankstown to Bendigo Bash.PAS has been awarded 2012 Distributor of the Year from Thermo Scientific, which as asmall team in a region that includes China. This was a great achievement for everyone.

Financial AdvisoryFINANCIAL CHECK UP - ARE YOU ORGANISED?Case Study: Ben and Sally are married withtwo teenage children. Their youngest childhad just started high school which hasallowed Sally to return to work.After talking with some friends who werefinancially well organised, Ben and Sallyrealised there were some areas of theirfinancial circumstances they needed toaddress. Their friends suggested theyorganise an appointment with a FortunityFinancial Planner for a ‘financial check up’.Ben and Sally have been married for 15years and purchased their home soon afterthey were married. It was important to Benand Sally that Sally stay at home with thechildren until they reached high schooland thankfully Ben’s income allowed this tohappen.“We have always enjoyed our familyholidays but we have not been able totravel as often as we would have liked” saidBen. “I have enjoyed being available for thefamily but I feel it’s time for me to restart mycareer and I want to ensure we spend myincome wisely” said Sally.Ben is 43 and Sally has just turned 40 andthey plan on retiring when Sally turns 60so they really want to make the most of thenext 20 years.They have never worked to a strict budget,“we always seem to have just enoughmoney to do the things we need to do”Sally said, “...although we would be happyto work to a budget if it meant we could domore of the things we enjoy.”They agreed to a financial check up andto develop an ongoing plan with theirFortunity financial planner. They started bydiscussing what it was they really wanted toachieve and agreed to concentrate on thefollowing:turns 50couldn’t work due to illness or injuryHaving discussed what they wanted toachieve, the next step was to analyse theircash flow position given Sally’s new income.After the analysis, they implemented somesmall changes and were pleased to be ableto allocate all of Sally’s income and a littleextra towards their ongoing financial plan.All up they agreed they had $3,000 permonth available.Before moving ahead with developinga plan for the best use of the $3,000 permonth, they needed to ensure they wereadequately protected should one of themnot be able to work due to illness or injury.Both of them had adequate levels of deathand disability insurances within theirexisting superannuation funds.Ben had income protection however Sallyhad just started working again so afterapplying for income protection at a costof $200 per month their monthly amountavailable reduced to $2,800.Next they worked with their FortunityFinancial Advisor to restructure their$145,000 home loan. After agreeing to use$1,000 of the $2,800 available they wereable to pay off their mortgage in seven years,three years earlier than they had hoped.“That’s fantastic, for so long now it’s felt likewe were never going to pay it off” Ben said.Given Ben and Sally wanted to travel morewith the family while the children were stillyoung, they agreed to save $800 per monthinto an account which they called their‘family fun account’. This account was to beused just for family travel.Having allocated some of the $3,000available to income protection, mortgagerepayments and family travel, they stillhad $1,000 per month available to save forretirement. Fortunity recommended thatthey salary sacrifice the pre tax equivalentof the $1,000 into superannuation. Thisallowed them to make the most of the greattax concessions superannuation provides.“Following the implementation of Fortunity’srecommendations we are confident we aremaking the most of our money and thatwe can do the things we really want to do.Our financial plan is easy to understand andflexible should our circumstances change”said Sally.If you would like to talk to a Financial Advisor aboutyour goals please contact us today on 02 4304 8888.

Out and AboutOUT AND ABOUTWith the Fortunity teamIt has been another great year here at Fortunity and there have been many exciting changes for our team and Fortunity as a whole.We have had new neighbours move in around us, including Portable Analytical Systems (PAS) who moved in downstairs, andwe have also grown our team with the addition of David Bracey and Associates. A few of our valued team members graduateduniversity, and a few more have started their CA.We have also been out and about in the community, through our Fortunity in the Community initiatives, as well as our ongoingcommitment to providing a healthy and continuously growing workplace and community.Here at Fortunity we wish for all of our employees to have a healthy work and life balance. We encourage all of our employees toget involved in our community initiatives, team building days and corporate events.Happy7th BirthdayFortunity

Employee DevelopmentJADE TALKS GRADUATING FROM COMPETITIVE SYSTEMS & PRACTICESProvided by Fortunity Training (RTO)Fortunity Training is a leading workplace training provider thatoffers expertise in delivering flexible, nationally recognised trainingand development courses to cater to the needs of your growingbusiness.Fortunity Training offers a range of high quality, nationallyrecognised vocational training courses. All courses offered byFortunity Training are designed to enable your businesses andemployees to become more efficient.The training programs up skill your employees and teachesthem proven tools in maintaining an efficient and organisedworkplace which increases overall employee productivity andhelps employees to become more engaged in the business. Thenet results for you, as the business owner, are higher profits and amore successful business operation.In support of Fortunity Training and to help improve the smoothoperation of our business, Fortunity enlisted a few of our employeesinto the Certificate III in Competitive Systems and Practices Course.This qualification provides the skills needed to improve efficiencyin a person’s own work role, the efficiency of a team or work area.It complements but does not duplicate qualifications supplyingoperational, production, maintenance, logistics, administration orother technical skills to industry.Jade Macauley, who is our ‘Director of First Impressions’ at Fortunity(aka our Receptionist) was one of the team members who undertookthis training. “I commenced the Certificate III in CompetitiveSystems and Practices in October 2012 after discussions with myManager. I wanted to do the training because I wanted to improvemy employability skills and further my qualifications.”The Certificate III in Competitive Systems and Practices was muchdifferent to any course I had previously completed, it was verypractical and we actually put the skills we were learning intopractice in a real environment. I feel that this course has helpedme to understand the workings of our business better and I nowfind myself operating more efficiently...which is something I neverreally thought I could improve on.”“Throughout the course we had a mix of bookwork and practicalactivities. We had to work independently for some of the tasks andalso work in teams for large projects. I led my team in one of themajor projects and I came out feeling much more confident in myability to develop ideas, lead and manage other team members.”“I am now capable of implementing new procedures and I feelconfident in sharing and discussing information regardingworkplace safety and changes in the workplace.”For more information on Fortunity Training visitwww.fortunitytraining.com.au“The Certificate III in Competitive Systems and Practices was much different to any course Ihad previously completed, it was very practical and we actually put the skills we were learninginto practice in a real environment.”Jade Macauley - Receptionist at Fortunity

Fortunity TrainingJETSETTING TO AFRICAFortunity TrainingFortunity Training Director, Frank Oxley flew to Africa in early 2013 to meet the team atAmpcontrol in Johannesburg. Ampcontrol is the largest privately owned electrical engineering andmanufacturing company in Australia. It specialises in providing electrical supply and control systems,as well as other specialised electrical systems to the mining industry. The company acquired two SouthAfrican companies that were located near Johannesburg South Africa during the past 4 years.Ampcontrol aim to relocate the two existing manufacturing enterprises into a new “Greenfield” site ina suburb called Boksburg. The role of Fortunity Training was to lead the design of the new site plantlayout consolidating the two existing manufacturing processes into one and facilitating that the plantlayout would be safe and efficient.What did you find?When I arrived in South Africa I had little understanding of the processes being undertaken at thetwo sites. Whilst both sites fabricated products for the mining industry, the way they operated wasdifferent, even compared to their operations in Australia. I needed to quickly establish what was criticalabout both plants’ processes so we could look to ensure that when they combined, they leveraged thestrengths of both companies. An initial plant layout had been undertaken, but no one had taken fullownership of the process at that stage.We decided that the new site should have fundamental value and that it would be a “world classmanufacturing site” capable of delivering products to any market in the world.This meant that we always asked ourselves what we would expect to see in other world classmanufacturing countries. This would mean that the plant would be “intrinsically” safe, for exampleminimising forklift traffic through work areas. We would minimise the wastes of transport and motionby following the principles of “5S” which are the 5 steps in making an efficient and safe workplace.We wanted the plant to be a “great place to work”.We started laying out the plant overa twoweek period throughconsulting withthe“experts” at eachsite. As we made amendments andchangesthe plant layout was built in 3D Cadsoftware. This allowed us an approach proato create a plan, review it with the team and make amendments. entsThisincluded ideasand feedback fromthemachines operators, ors,supervisors sorsandmanagersagerWhatwastheoutcome?After three weeks eks we completely ely re-laid out the flooror plan. This was thenpresented ed to the Chief Operating Officer (International natitional andStrategy) MrBradNewell ell and Chief Executive Officer, Mr GeoffLillis. lis.Theplan was accepted cepted as is with someminor alterations. atioThe plant is currently rentundergoingconstruction tionwith relocation on andoccupation in August ust 2013.What was the highlight of your trip?Professionally...Being given the opportunity to presentour plan to the CEO of Ampcontrol as part of the SouthAfrican team.Personally...Going on Safari in Sabie Sands game reserveand getting up close and personal with a Cheetah eatinga Baboon whilst it tangled with a pack of Hyenas.What was the most unusual experience youencountered whilst in Africa?Eating a Braai (BBQ) under the stars in the middle of agame reserve surrounded by wild animals.Did you try any weird/traditional foods?I ate Kudu (a wild antelope) with Monkey Gland sauce (noMonkeys were used!!). It was excellent.

Welcome David BraceyThe joining of two leading Central Coast firmsEstablished on the NSW Central Coast, Fortunity has quickly ongoing growth commitments we have now been joined byBracey & Associates. Following an extensive search within quality in our people and in our work. Bracey and Associatesshare these same goals and values and was an ideal partnercontinue to offer outstanding service, extensive expertise andan environment our clients and associates want to be a part of.Before joining the Fortunity team, Bracey and Associates wasin a full range of audit assurance, accounting, taxation andbusiness advisory services through in-house resources as wellas those which came through their association with DeloitteTouche Tohmatsu.The Firm was headed by David Bracey. David has a Bachelorof Economics from Sydney University (majoring in Accounting,Law and Economics) and is a Fellow of the Institute ofChartered Accountants in Australia. David is a registeredCompany Auditor and a registered Tax Agent. Having workedin Public practice since 1977, David has extensive experience inaudit, business advisory/consulting, accounting and taxationmatters.David brings with him a young, dedicated and enthusiasticteam of professionals who pride themselves on quality of workand client relationships. David will be joining the Fortunityteam as a Consultant and his team members will be workingwith us in our Audit and Accounting teams.Fortunity are pleased to welcome David Bracey and his teamto Fortunity. We hope you will join us in celebrating this majormilestone and look forward to continuing to provide you withquality service and advice. If you have any questions about thisexciting news and what it will mean for you, please contact usat any time.“On behalf of the team atFortunity, we would like towelcome David and his teamfor this fantastic growthphase. I know that everyoneis very pleased to have themonboard.”Tim CullenDirector of Fortunity

Fortunity in the CommunityTeam Member Bec at the 2013 Clean Up Australia DayFortunity actively encourage and help our staff to volunteer their timeand expertise to work with community groups, registered Australiancharities and not-for-profit organisations.Our large, diverse organisation has a range of skills that we can donateto help charity, community groups and social enterprises achieve theirgoals.Each year we put in over 100 man hours towards bettering our localcommunity and the lives of everyone in it.Fortunity are very passionate about community involvement and wehave a strong relationship with Coast Shelter in particular.Coast Shelter is a not-for-profit charity based on the NSW Central Coastwhich provides accommodation and support programs for people whoare homeless or at risk of homelessness.Fortunity encourages our employees to support all fundraising andcommunity initiatives facilitated by Coast Shelter.The Fortunity Christmas Gift Giving TreeEach year we set up a gift giving tree here in the Fortunity office whereour employees and clients are welcome to donate gifts for those in need.Last Christmas we donated over 50 individual gifts to Coast Shelter.Coast Shelter’s Give Up Your BedFortunity team members gave up their beds for one night and madea considerable donation to the Coast Shelter fundraising appeal.Coast Shelter Homeless BreakfastsEach week, the volunteers of Coast Shelter jump in the kitchen andcook over 200 meals for homeless people living in the community.Fortunity employees often give up their weekend sleep-in to attenda Coast Shelter breakfast and ensure the homeless enjoy a nutritiousmeal.As well as the extraordinary work our employees put into theirvolunteering with Coast Shelter, we also manage to participate inother community fundraising and support initiatives.This past year alone our team has participated in:Clean Up Australia Day I Movember I WWF AustraliaGuide Dogs NSW/ACT I Australian Red CrossThe RSPCA I QLD Flood Victim Relief I OxfamCamp Quality I Beyond Blue I Cancer CouncilFor more information on our above work or to find out how you canhelp please contact us today.Fortunity Christmas Cash DonationLast Christmas was a very important one for Fortunity and our clients.Instead of hosting a client Christmas party we opted to help thosein need by donating $2,000 to Coast Shelter to help those in need toexperience Christmas (on behalf of our clients).Visit www.coastshelter.com.au to find out how you can help supportCoast Shelter.

AuditThe Fortunity Audit ApproachFORTUNITY AUDIT SERVICESAt Fortunity, we have experience in providingaudit and assurance services including:engagementsorganisationsThe reasons why a business has an auditperformed are many. They range fromrequirements placed upon the business byfinanciers through to giving credibility tothe financial statements of the business,while for others it is a statutory requirement.Fortunity has a stated policy that while stillmeeting these prime objectives, every effortis made to ensure that clients gain maximumbenefit for their audit dollar.SEND IN THE TROOPSWe have a dedicated audit teamwho are committed to providingour clients with the very best inservice and quality reporting.Here at Fortunity we prideourselves on the quality and skilllevel of our people. In order tomaintain that level of quality weoffer our employees the verybest in education, resources andsupport. Many of our employeeshave grown their careers with us,many starting out as cadets whilststudying at university.This year has been of incredibleimportance to the Audit team. Wehave introduced a few new facesto the team through cadetshipsand the joining of David Braceyand Associates. These changes area true reflection of the hard workBrent talks “being on the Fortunity Audit team”we put in each and every day toensure we can continue to be themost trusted team on the CentralCoast.Our dedicated Audit team hasexperience in working with manysmall to large organisations.We pride ourselves on therelationships held with local clubsand sporting Associations inparticular. We are trusted auditorsfor over 15 local clubs includingthe Central Coast Leagues Club,Diggers at The Entrance, EttalongBeach Club and the EttalongBowling Club.With over 100 years combinedAudit experience on the CentralCoast, our team have theunderstanding needed to ensure aquality audit approach.Brent is a valued member of our audit team here at Fortunity. Havingstarted out in our Work Cover division over two years ago, Brent hasnow moved into a senior role within the Auditing team.“I enjoy going out on Audits because it allows me to understand theoperations of your business on a more personal level. Entering the premiseof the business allows me to understand how your business operates andhelps me to understand the dynamics of your business structure.”

SponsorshipCENTRAL COAST MARINERSWIN FIRST EVERA-LEAGUE GRAND FINALInaugurated in 2004, the Central Coast Marinersare proud to be the first ever professional footballclub to represent the Central Coast region on anational and international sporting stage.After years of near misses the Central CoastMariners have finally showed us all what theyare made of, securing the number one spot thisseason.The Mariners have come so close so many timesbut have never quite made it to that primeposition. After making it to the grand final in2006 and losing to Sydney FC, then to Newcastlein 2008 and again to Brisbane in the 2011 grandfinal penalty shoot out, the Mariners were notgoing to back down this season.Determined to take home the “toilet seat” trophythey defeated the Wanderers 2-0 in this year’sgrand final. This is the first A-League grand finalwin for the Central Coast Mariners and theycouldn’t be happier.Patrick Zwaanswijk opened the scoring in the44th minute and, at 38, became the oldest grandfinal goal scorer while fellow veteran DanielMcBreen, 36, ensured the win with a spot kick inthe 68th.The win halted the minor premiership-winningWanderers’ 13 game unbeaten streak in front of a42,102 strong crowd. Mariners young gun BernieIbini had the first shot of the match, testing theWanderers’ defence just four minutes in.Fortunity is proud to be a part of this growingCentral Coast sporting club. As a majorsponsor, we wish the Mariners all the best astheyfight to maintain their number oneplacein the2013/14 14 season.son.Shaun O’FarrellFinancial AdvisorBrief outline of roleAs a Financial Advisor, my role is to work closely with clients toformulate and monitor their financial strategy which may includecash flow, investment, superannuation, asset protection/insuranceand estate planning advice.Many people think that only the wealthy need financial planninghelp and advice. However, this is certainly not the case. As a FinancialAdvisor, I can advise you on how to grow and manage your finances,no matter what your income, assets or goals. It is my role to understandand evaluate your situation and develop plans and options to helpyou make more informed decisions so you can enjoy life more andspend less time worrying about your finances.What led you to a career in financial advisory?I chose financial advisory because I have always had an interest inpractical level finance and I genuinely enjoy helping others.Best part of the roleHelping clients reach their financial goals and make good financialdecisions. Its rewarding knowing that I genuinely make a difference inpeople’s lives every day.Worst part of the roleSometimes you have to deliver the news that clients are unlikely toachieve their financial goals. As an advisor, we want to help our clientsachieve set financial goals but it is also our responsibility to advisethem of the best options.QualificationsCertified Financial Planner.Career highlightsHelping a client with an insurance claim and seeing what a differencethe claim payment made to her situation. I truly felt like my help hadmade an extraordinary impact to her life.What do you enjoy about working at Fortunity?Fortunity provides the opportunity to provide ahigh level of service that allows us to work withclients and support their financial strategies.I also consider myself to be very lucky to havethe opportunity to work for such a strong,reputable firm only minutes from home.Interests/hobbies outside workFamily, mountain biking and doinganything active with my boys. Hmm...and making beer.Team member in FocusWhat’s your favourite meal and do youhave a signature dish?My favourite meal is a simple steak.I don’t really have a signature dish butI do enjoy cooking and experimentingwith different foods.Who was your favourite superherogrowing up and why?Superman – Just because he can flyand that would really come in handy.

PrimeGlobalFortunity Director appointed leading role forAsia Pacific.Fortunity is pleased to announce that our Director, Tim Davidsonhas been appointed Chairman of PrimeGlobal Asia Pacific andwill also sit on the World Board of PrimeGlobal.PrimeGlobal is a global affiliation of accounting firms and is thethird largest of its kind. The affiliation brings together over 350highly respected, independent public accounting firms across 90countries around the world.Our association with PrimeGlobal is important to our clients as itprovides us with a significant knowledge base as well as accessto resources at a national and international level. Access to theseskills and resources enables Fortunity to offer the strength andcapability of a large worldwide organisation with technical depthand geographic reach otherwise impossible to a local firm.The size and breadth of coverage that PrimeGlobal providesallows us to help with your accounting and business requirementswherever the geographical location of your business may be. Itis a great way for us to gain access to best practice managementconcepts and to be able to assist clients across multiple or newlocations state wide, Australia wide and worldwide.Fortunity is proud to be associated with such an organisationand are very pleased with Tim Davidson’s recent appointment asChairman of the Asia Pacific Region. In this capacity Tim will notonly represent Fortunity but accounting firms throughout theAsia Pacific region at a global level.Erina Business Park 155 The Entrance Rd Erina NSW 2250Financial Planning provided by Fortunity Wealth Management Pty Ltd authorised byPremium Wealth Management AFSL 237498. Material contained in this publication is notintended to take the place of appropriate professional advice. For specific information oradvice on all business and financial matters, please contact us to arrange an appointment.info@fortunity.com.auwww.fortunity.com.au Ph: (02) 4304 8888