Episode
TIVP064: Kelly Partners Group: The Constellation Software of Accounting? w/ Daniel Mahncke & Shawn O’Malley
- Published
- Mar 22, 2026
- Duration seconds
- 4625
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Summary
Daniel Mahncke and Shawn O'Malley take a deep dive into Kelly Partners — a fast-growing Australian chartered accounting network with over 25,000 SME clients and founder Brett Kelly's relentless ambition to build Australia's first global accounting firm. Join Daniel and Shawn as they assess whether Kelly Partners has a sustainable moat, an attractive valuation, and whether it deserves a spot in portfolio. IN THIS EPISODE, YOU’LL LEARN: 00:00:00 - Intro 00:02:56 - Who the CEO and founder, Brett Kelly, is 00:04:27 - About the mission of Kelly Partners 00:06:53 - How the business model works 00:10:15 - How big the TAM is 00:26:12 - Whether AI is a threat or an opportunity 00:26:51- What the bull and bear cases look like 00:35:02 - What acquisition criteria Kelly Partners has 00:51:50 - How the financials work 01:03:07 - Whether Shawn and Daniel add Kelly Partners to the portfolio *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES The Investors Podcast Network is excited to debut a new community known as The Intrinsic Value Community for investors to learn, share ideas, network, and join calls with experts: Sign up for the waitlist(!) Sign up for The Intrinsic Value Newsletter. Learn how to join us in Omaha for the 2026 Berkshire Hathaway shareholder meeting. Track The Intrinsic Value Portfolio. Shawn & Daniel use Fiscal.ai for every company they research — use their referral link to get started with a 15% discount! Anomaly Invest Article . Compound and Fire KPG Deep Dive. Compound and Fire KPG AI Article. Be Better Off Show. Explore our previous Intrinsic Value breakdowns: Uber, Nike, Reddit, …