Today’s blog focusses on the success of the Rawlings Bolton presentation at the 5th Annual Private Wealth Melbourne Forum, and a thank you to Markets Group for providing Heath Shonhan, Rawlings Bolton Managing Director with another valuable opportunity to present the firm’s thesis on the growth of private equity in professional services.
Beyond succession – private market solutions for sustained growth in professional services
Australian accounting and financial services firms face a defining moment. With thousands of principals approaching retirement, evolving client expectations, and technology reshaping service delivery, the profession stands at a crossroads.
Rawlings Bolton has prepared a white paper on these challenges and opportunities and draws on 75 years of sector experience to examine how thoughtful, specialised private capital can support the next chapter of professional services, enabling succession with dignity, driving capability uplift, and backing ambitious firms eager to grow.
The white paper includes five key topics:
1. The five structural forces reshaping the profession;
2. Where private equity adds value - and where it should not;
3. Three investment archetypes for firm transitions;
4. Seven characteristics of high-performing practices; and
5. A blueprint for successful firm-investor partnerships.
Whether you’re a firm principal navigating succession, or an investor seeking stable, relationship-driven opportunities, the paper provides clarity for the decisions ahead.
Four key takeaways from the Markets Group Annual Private Wealth Melbourne Forum
1. The Rawlings Bolton roundtable
Heath Shonhan hosted a table, which he structured the conversation into three parts: the thesis we set out last year - specialised private capital supporting the next chapter of professional services, to enable succession with dignity, driving capability uplift, and backing ambitious firms eager to grow; what the firm learned on executing the thesis and what we expect over the next 12 months.
2. The Markets Group room
The focus was firmly on private markets, with plenty of debate about private credit. Speakers covered asset classes from water rights and precious metals to corporate bonds.
3. One-on-ones
A recurring theme was how difficult, genuine diversification has become, particularly when allocating to private markets. The question isn’t simply how much illiquidity to accept, but what return premium investors are being paid for it.
4. CIO insights
Two ideas stayed with the Rawlings Bolton team: illiquidity needs to earn its premium, and inflation makes real returns matter. In private markets, that puts greater emphasis on durable cash flows and the ability to actively create value over a long holding period.
Rawlings Bolton is extremely proud to support the Annual Private Wealth Melbourne Forum for a second consecutive year.
To continue the conversation, you can download ‘Beyond Succession’, the Rawlings Bolton white paper on succession, growth and private equity in professional services:
https://rbco.au/beyond-succession/
About Rawlings Bolton
Rawlings Bolton has a 75 year heritage as financial intermediaries, advisors, and trustees. Originating from Bentleys Queensland, Rawlings Bolton was established to concentrate on the advantages of a dedicated customised and ethical approach to Australian financial services.
As a Queensland owned and operated organisation, Rawlings Bolton’s roots date back to 1948, when accountants Jim Rawlings and Harry Bolton founded JL Rawlings, Bolton & Co (the Queensland owned and operated firm now known today as Bentleys Queensland).
Today, our commitment lies in providing ‘Good Capital’ in all its forms. We are trusted, and have proven success in helping our clients protect and grow their capital.
We acknowledge that capital preservation and growth involves many forms and considerations – including social, human, intellectual, environmental, and infrastructural elements – in addition to financial.
Our team holds extensive expertise across these different forms of capital, providing excellent, efficient service that builds trust and enduring relationships.
Our objective is to help our clients manage their capital responsibly for generations to come.
Andrew McNeil is a Non-executive Director of Rawlings Bolton and Co.