For Ian Lamb, Managing Partner at Smailes Goldie, variety has been the key to sustained success at the top of one of the region’s most well-regarded accountancy, tax and business advisory firms.
This year, he passes the milestone of 40 years as a Partner at Smailes Goldie, leading the firm through a period of enormous change, in the accountancy profession, in the regional economy and society more generally.
“I have very much enjoyed the entirety of my 40 years as a Partner at Smailes Goldie,” says Ian, reflecting on four decades at the top of one of the region’s most prominent independent accountancy practices.
Having joined Smailes Goldie immediately after A Levels in 1977, Ian qualified as a Chartered Accountant in 1981, before becoming a Partner in 1983.
Originally intending to attend Loughborough University to study Civil Engineering, Ian changed course towards the accountancy profession because he wanted an option that would allow him to continue teaching and coaching ballroom dancing in Hull.
“At the time, I was teaching ballroom dancing for as many as 25 hours each week and I wanted to continue doing so. I would not have been able to continue had I gone to Loughborough, so I was keen to remain in Hull,” said Ian.
After speaking with various regional and national accountancy firms at careers events, Ian opted to join Smailes Goldie.
While training at the firm, Ian obtained outstanding results in his professional exams, which were a key element of his journey from unqualified trainee to Partner in just over five years.
The last 40 years have seen enormous changes. In 1977 when Ian joined Smailes Goldie, Elvis Presley was topping the charts, the currency had only been decimalised for six years, Jim Callaghan was Prime Minister and Denis Healey was Chancellor.
Fast forward 10 Prime Ministers and 14 Chancellors and the world looks a very different place indeed.
Locally, Ian says that there have been enormous changes in an around Hull. “There are many genuinely first-class businesses that have been established in Hull during my time as a Partner at Smailes Goldie, including many that have built on the successful redevelopment of the city’s docks,” said Ian.
The accountancy profession has also seen significant changes over the last 40 years. The most obvious, says Ian has been technology – something everyone who has experienced life over the last 40 years will know well.
However, the second change highlighted by Ian is much less obvious but perhaps similarly significant. That is the level of specialisation, and at an earlier stage in accountants’ careers.
“For a long time there has been a trend towards specialisation at an increasingly earlier stage in a person’s professional life. This has long been the case in the largest firms but is being seen more and more in mid-sized firms nowadays.
“Doubtless, the idea of becoming a specialist in a particular area is alluring, but it is a surefire way to cut yourself off from vital knowledge about other areas of professional practice.
“No area of practice exists in a vacuum and virtually all elements are intertwined with others, meaning that there is an enormous potential advantage in maintaining a commitment to developing a breadth of knowledge as well as a depth of knowledge,” says Ian.
Ian points to his own and Smailes Goldie’s resistance to this trend towards specialism as part of his and the firm’s success.
“The Big Four have been particularly focused on specialisation, and it is easy to see the logic they have been following.
“However, in practice, we can see the problems this creates having been on the side of transactions from specialists in Big Four firms. They simply have not got the rich understanding of what their knowledge means in the real world, which is full of different considerations which affect the outcome for the client,” says Ian.
Contrasting with the most prevalent trends in the profession, Ian’s proudest achievement during his time at Smailes Goldie has been in driving the firm’s commitment to people, training and standards, something that has proven a particular advantage given the current recruitment crisis in the profession.
“In many ways having such a strong focus on our people and their professional development is a no-brainer,” says Ian. “In any professional firm, the quality, and therefore value, of the service we offer is indistinguishable from the performance and expertise of our people.
“Unfortunately, too many firms have overlooked this basic fact and have focused on other things instead. I suspect where this is the case, it is patently obvious to their clients.”
Away from his professional life, Ian’s approach is similarly filled with variety. He was a highly successful ballroom and Latin dancer, and his son has followed in his footsteps, achieving great things on the dancefloor.
He also has a strong passion for ice hockey and was instrumental in Smailes Goldie becoming a lead sponsor of the Hull Seahawks (formerly Hull Pirates) professional ice hockey team.
Having very much enjoyed his 40 years as a Partner at Smailes Goldie, Ian says he has no plans to retire. Indeed, he is looking forward to seeing another intake of trainees embark on their careers as Chartered Accountants at Smailes Goldie this autumn.
