Dean Anderson CA shares the story behind Anderson & Edwards
By CA magazine
24 August 2023
Dean Anderson CA’s love of accountancy began young. Julie Burniston hears how he reunited with a former university friend with complementary skills to form Anderson & Edwards, a new partnership with big plans
Growing up in Fife, Dean Anderson CA was always fascinated by numbers. While peers dreamed of becoming doctors or lawyers, his ambition remained steadfast – to be an accountant. “My uncle is a successful CA and played a significant role in inspiring my career path,” says Dean.
“He had a strong influence on my learning, providing guidance as I progressed through my degrees in accounting and finance at Heriot-Watt University, with the aim of obtaining an ICAS training contract. We discussed my career plan, and how he felt training at a smaller practice would allow me to gain a basic understanding of accounting, and get quality client interaction from an early point in my career.”
With interests lying beyond audit, Dean opted to train at the small firm of James Hair and Co in Cupar, working across a range of farm accounts. “I didn’t have shoebox clients, but I did have someone who brought receipts in a cat food box,” he laughs. After qualifying in 2016, he honed his skills at KPMG in Glasgow, then embarked on a yearlong adventure in Australia with his wife. “Having the CA qualification certainly opened doors. I secured a job within two weeks of arriving there,” he says.
Returning to Edinburgh in April 2019, he joined Johnston Smillie (where Edwards was also working) as a client manager, further enriching his professional skills. It was late the following year that he and old friend James Edwards took a leap of faith, deciding to set up a practice together as Anderson & Edwards. The company commenced trading in February 2021.
“James and I have known of each other since our school days, but we were a couple of academic years apart, so it wasn’t until he came to Heriot-Watt that our paths properly crossed. We met during his first week, with James playfully pointing out that I was wearing our old school tie. We became firm friends and drinking buddies, living two doors down from each other in halls.”
Recognising Dean’s interest in accountancy and James' in tax (he is now a CTA), their mutual friends predicted the pair would eventually run a business together. Though their careers followed different paths post-graduation, the men remained close. After Dean’s return from Australia, with the pair both working in Johnston Smillie’s Edinburgh offices, they witnessed each other’s skills first-hand.
“There were synergies between us and when James handed in his notice [to set up as a sole practitioner] in February 2020, it wasn’t long before he was turning away work that he couldn’t do, so he asked if I could lend a hand,” says Dean. “This sparked the idea of establishing our own company.”
Taking the leap
By now Covid was spreading, and launching a business in such an uncertain time may have seemed risky. But with his wife secure in her profession as a doctor, Dean had the financial stability required to go from a steady job to self-employment.
“We started from scratch, intentionally refraining from taking any clients from my previous firm,” says Dean. “We spent the first 18 months networking on Teams and Zoom, growing our client base primarily through word-of-mouth referrals.
“We aim to offer a ‘house doctor’ approach, ensuring clients can reach out to us with any problem and be confident in our ability to provide assistance. Although our services may come at a premium compared with others, we maintain an honest approach, enabling prospective clients to make an informed choice.”
A successful partnership means setting clear boundaries and promptly addressing any issues that arise. The duo have this covered in their articles of association and so far, so good, with any niggles being resolved before they escalate. Moving into their own office brought a welcome change after 18 months’ confinement at home, and it makes their venture feel more tangible, more real.
“Looking ahead, Anderson & Edwards envisions transforming into a training firm, offering opportunities to university graduates, and providing them with the necessary training to embark on successful careers in accounting. We want to demonstrate that qualification as a CA opens doors worldwide, allowing accountants to explore diverse opportunities,” says Dean. “We are determined to make a positive impact in the accounting world, creating a supportive environment for future accountants to thrive and grow.”
