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Tax Professionals: Five Steps to Build A Winning Personal Leadership Brand

How can you measure the effectiveness of your personal brand? Oleg Rak, Managing Partner at Mason Rak, has a clear answer: the value of your personal brand is directly related to its ability to create and wield influence. Our market research shows the same thing time and time again – a personal leadership brand increases your authority in the market. It gives you the focus to deliver results that are aligned with your identity, and perfectly in sync with the values and culture of your firm. In the current volatile market, tax professionals who are looking to gain a competitive advantage must position themselves as thought leaders, visionaries and educators. Have you mastered your personal leadership brand? There is no secret. Smart tax professionals across the globe are positioning themselves as dynamic innovators through carefully managed, strategic personal branding campaigns. They continually develop their skillset, ensuring they are always front runners in the market. A leader who knows how to manage their brand increases the equity of the firm they represent, in turn increasing their personal value. Tax professionals who know how to position their skills and experience for a particular firm have a clear advantage on the competition. In the current market, your leadership brand will clearly position your unique ‘return on investment’ and help to accelerate your career progression. We outline five simple steps you should follow to build a strong personal brand: 1.   Make those around you successful Winning personal brands are built on the success that they have created for others. This is often referred to as the ‘law of reciprocity’. If you are able to create success for colleagues around you, your reputation and goodwill will not only shine through in your work, but throughout your network. This is one of the most overlooked elements of personal branding. In short, those who invest in professional relationships and help others to achieve their goals will benefit tremendously by doing so. 2.   Hire a professional coach This is one of the single best investments you can make in building a powerful and sustainable personal brand. At Mason Rak we have a proven executive coaching system that is designed specifically for senior tax professionals to help define their personal brand and differentiate themselves from competitors in the market. This allows you to have a trusted advisor on your side, who will guide you through the branding process, and help you to further accelerate your career progression. 3.   Invest in upskilling You will only strive as a senior tax professional if you continuously advance your professional and interpersonal skills. Careers in accountancy and law firms are becoming increasingly competitive, so you should never pass up the opportunity to enhance your knowledge and skillset, for instance when it comes to new technology, and digital innovation and automation. 4.   Effectively use social media   Brands work tirelessly to leverage social media in order to boost online visibility and revenue. But only a handful of tax professionals understand how to do it well. As a successful tax professional, it is now a must that you master your social media presence, interact effectively with your audience, and develop trust and authority with your network. We believe LinkedIn is one of the best places to invest your time. If you have a strong and active presence on LinkedIn, and your personal brand story is evident, your professional network will naturally become stronger, and you can ensure that you stay ahead of the game when it comes to market intelligence and developments. Make sure that your profile looks impressive. We see time and time again that even some of the most senior tax individuals underestimate the value of this channel, and do not realise the authority and reach that it provides. Take the time to create a powerful LinkedIn profile that simply sells. At Mason Rak we have helped hundreds of tax professionals to transform their online presence and take their personal brand to the next level. 5.   Make your brand a reality Your personal leadership brand should not promise what it cannot deliver. However, the way you position yourself will determine how you are seen in the market. The better your brand is, the better your reputation, engagement, and financial upside. Building your personal brand is a continuous journey, you must consistently build powerful imagery and messages to establish yourself as a winning professional in your particular tax niche. Whether this is through your emails, phone conversations, the way you dress – you must showcase your skillset and support your brand. We believe that in the post-Covid era, more firms will be looking towards digital and online presence when assessing tax professionals. The bottom line is, you need to build a personal brand in order to excel in the current market – it’s pivotal to your success. If you feel like you don’t have a powerful and well-articulated brand story, please reach out and contact our team at Mason Rak. Mason Rak is a global specialist tax search firm that operates extensively across all key global markets. In these uncertain times, the firm is perfectly placed to mentor tax professionals on their personal leadership brand. If you would like to discuss your brand and strategic global tax opportunities, please contact Oleg Rak, Managing Partner, on oleg.rak@masonrak.com or call +44 786 911 3281.    

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The Vital Importance Of Being A Trusted Advisor

Anyone can become an advisor - but not everyone can become trusted.   Trust is the holy grail of all great client relationships. As tax professionals, we know that the quality and depth of our client relationships is the foundation for a successful career, and how we show up for them will determine our future.   In an industry where suspicion and distrust can abound, the phrase you want to hear from all of your clients is: 'you're the advisor I can trust.'   Becoming a pillar of trust   Did you know that professionals only like their clients 20-30% of the time? The rest of the time, they conduct business without an emotional attachment. That means most of us could do with spending some time working on our' trust factor.'   According to the book The Trusted Advisor, by David H. Maister, Charles H. Green, and Robert M. Galford, a trusted advisor is some who:   "is capable of totally and completely devoting himself, his caring and his attention to the client."   However, it's not just about 'doing the right thing'. Trust is a currency that is earned over a period of time.   In the book, the authors define several aspects of building trust that will set you apart from the rest.    Building trust in a client is essentially about building their confidence in you. The more confidence they have in you to handle their affairs wisely, the more trusted you'll become across your field.   How can tax professionals dispense advice that will be trusted?   Being trusted is about being helpful. It is about being a pillar of service to others, so we need to meet clients where they are at emotionally: "Since clients are often anxious and uncertain, they are, above all, looking for someone who will provide reassurance, calm their fears and inspire confidence."    In the book, they outline the attributes of a trusted advisor: They focus on the client rather than themselves. They listen without prejudging and interrupting. They have curiosity, inquiring without guessing an answer. They see their client as an equal They subordinate their ego to get the job done. They believe that a focus on solving the problem is more important than technical know-how. They continuously find ways to be of greater service. They have an intrinsic motivation to do the right thing and focus on it next. They view methodologies as a means to an end and aren't afraid to change the rulebook. They seek out personal contact with clients and take risks to get the job done well.   According to the David Maister, there's also a five-step way to ensure clients trust your advice on every issue, "engagement, listening, framing the problem, sketching an alternative solution and formulating an acceptable plan."     Language is also important. Instead of explaining something in black and white, frame your advice with 'softer' language, presenting a couple of suggestions as to your plan of action.    Successful, trusted advisors consider how clients will respond, taking into account their considerations, the company politics and their emotions. They anticipate their needs and take steps to accommodate them.   It's also helpful to be clear when there are knowledge gaps in your practice. Trying to be omnipotent and know everything doesn't serve the client; being human is where the kernels of trust can grow.    Showing a willingness to rethink the plan and to change what isn't working is also a critical factor in success.   How can you become more of a trusted advisor? It starts with measuring where you are now.   Try reflecting on your client relationships. This can be each week, each month, and each year. What went well? Were there any communication challenges? How can you overcome them?   Remember, becoming trusted is a process that grows over time. As the "Trusted Advisor" states:   "Learning to focus on the other (person) isn't an instantaneous decision: it's a lifelong learning experience!"   Would you like to advance in your career with the help of a trusted tax recruiter? Click Here       

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Welcoming.. Paul Twydell

We are very pleased to welcome Paul Twydell, who joins us as a Partner to head up our Corporate Tax team. Previously with a Top 25 firm for the past seven years, he is known for his exceptional work in the creative, media and technology sector. Marketing Executive Jack Penfold caught up with Paul to find out more… Hi Paul, a warm welcome to Simmons Gainsford. Please can you give us a bit of background about yourself and your journey so far? Hi! I’m a Chartered Accountant and Chartered Tax Advisor. Originally from the coast in Devon where I did my ACA training before moving to London in 2008 to specialise in corporate tax; first in a top ten firm and for the last seven years at a top 25 firm heading up a team of 11 people. I qualified as a CTA in 2009. What kind of projects have you been involved in and which industries have you covered in your career? One of the things I’ve liked most about tax is the fact that I’ve been able to work on so many different things with different people, with no one day being the same. From working with large property companies and global engineering firms to high-growth tech firms, radio stations and high-end fashion clients. I’ve focused more on creative, media and technology clients in the last few years assisting with investment under the EIS scheme, creating share options under EMI and making claims for R&D tax credits. I’ve also spent far more time on withholding tax matters than anyone would wish for. And what will your new role here at Simmons Gainsford involve? I’ll be a Tax Partner primarily focusing on corporate tax matters to begin with but generally looking into all tax areas which affect OMBs. I’m looking forward to meeting and working with the rest of the tax team in due course. Finally, what do you enjoy doing most outside of work? I am a keen cyclist so so I’m probably happiest on my bike right now, at least until live music venues can open and I can to gigs again. I have two young children so spending my weekend at a zoo/dinosaur park with them is an absolute delight. About Paul Paul’s primary focus will be dealing with corporation tax compliance and advice and he is also a specialist when it comes to advising on the Enterprise Investment Scheme (EIS) and employee share scheme matters such as the Enterprise Management Scheme (EMI). He is also able to advise clients both in relation to accounting and tax matters, as well as considering the commercial implications of transactional activities beyond their tax impact. Article: Check out Paul’s article on Capital Gains Tax and the significant changes potentially on the way. If you wish to contact Paul, you can do so on 020 7291 5675 or Paul.Twydell@sgllp.co.uk

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Welcoming.. Bas Kundu

Bas Kundu recently returned to Simmons Gainsford as our Head of Real Estate and Transactional Tax Services. Previously with us for just over four years, he is reprising his part-time role to continue his excellent work across the property sector as well as M&A, transactions tax and business development. Jack Penfold sat down for a quick catch up with Bas to find out a little bit more… Hi Bas, a warm welcome back to Simmons Gainsford. Please can you give us a bit of background about yourself leading up to this point? Thanks Jack and to you all for having me back – it does feel a bit like coming home! I was previously here for just over four years from October 2014 to December 2018, heading up the UK & International Real Estate Tax offering at Simmons Gainsford on a part-time basis. My career started in audit and then moved to corporation tax before being a tutor at BPP for several years which was a lot of fun – I even taught a couple of the SG partners! I’ve now worked in three of the Big Four accountancy firms and was a RE & Funds Tax Partner at PwC for several years. What sort of projects have you been involved in and which industries have you worked across? My primary focus has been real estate tax for the past 15 years, but I’ve undertaken mainstream M&A tax work and also helped set up the insolvency tax advisory team at KPMG, so I’ve come across a fair few industry sectors in that time. My largest transaction was Diageo’s acquisition of Seagram’s – a long while back now! This year my largest pieces of work have been refinancing of property portfolios including one for my largest client who successfully completed a £350M refinancing back in September on part of their UK portfolio. What will your role here at Simmons Gainsford entail? I am reprising my role as Head of Real Estate given the importance of the property sector to SG, but I will also be adding M&A and transactions tax as well as spending a fair bit of time on business development. I will still be in a part-time role and my days in the office (London) are Tuesdays and Wednesdays with alternate Thursdays the following week. And finally, what would you say you enjoy doing most outside of work? Apart from the usual 4 f’s (family, food, films and general fun) I do have to confess to being the bass player in a couple of rock bands… If you wish to contact Bas, you can do so on 07545 300 334 or by email Bas.Kundu@sgllp.co.uk

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