client service opportunities

working with the ultra-wealthy

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jason zayon, a partner in the business management & family office group at armanino llp,
jason zayon, armanino: “the accountant becomes the true ‘trusted advisor’ for everything the client needs.”

and how the family office can deliver.

by russ alan prince and anthony glomski
your $5-million high-net-worth practice

in many ways, the accounting industry is under pressure from fee compression and seriously increasing competition. the current crisis is exacerbating the problems some accounting firms are having.

more: become a thought leader | personal wealth creation can be coached | the power of stress testing | guiding clients through covid | maximize referrals from wealthy clients | building a high-net-worth practice during covid-19 | setting financial and practice goals during covid-19 | mistresses, mister-esses and accountants
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at the same time, certain types of clients and sets of services prove to be extremely profitable for accounting firms. one such type of client is the ultra-wealthy. furthermore, a potentially highly profitable segment of the ultra-wealthy is those with single-family offices.
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make more money starting now

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businessman sitting on stacks of paper currency34 ideas for any size firm.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: do you have any tips on how i could make more money?

more: how are you spending the next five years? | how to run a practice in 90 pages | how improv can help accountants | four tips for new partners | an alternative to pro bono | 14 better uses for timesheet data | 9 must-haves for firm growth
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answer: there are always ways to make more money. this includes managing every aspect of your practice and striving for productivity growth.

here is a 34-item  checklist with quite a few ways you can make more money.
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true advisory work isn’t just consulting

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the difference may seem slight. but the dollars are very real.

this is the first in a series of articles by gary bolinger, the former ceo of the indiana cpa society, explaining how accountants can move beyond consulting and into higher-level advisory relationships with clients

by gary bolinger

call it consulting, advisory, small business growth or entrepreneurial services – does it make a  difference? cpa firms are seeking to add value to clients in non-traditional ways. something other than compliance-related services. but firms seem to struggle with defining what “it” actually is.

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all too often consulting services are after the fact. practitioners discover a “problem” or some kind of shortcoming through a tax or financial reporting engagement. dutifully, the practitioner brings the issue to the attention of the client. the client dutifully asks what should and can be done. after some discussion, there are agreed-upon next steps. problem solved. sort of. that is consulting.
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you’re not just taxes

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make sure tax clients know about other services.

by ed mendlowitz
call me before you do anything: the art of accounting

during a tax return preparation interview, getting a client’s information is a tremendous opportunity to find out the concerns of the client and how you can help.

more: 20 good ways to boost tax season production | how to recoup staff training costs | 10 ways to stay in control | advice to new accountants | clients don’t lose sleep for overpaying taxes | when time-based pricing works
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the assistance you give can sometimes provide a life-changing benefit to the client while enabling your firm to increase its service base and gain additional revenues.
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how to create your firm’s cas team

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plus how to boost their skillsets.

by hitendra patil
accountaneur: the entrepreneurial accountant

“we do not have the staffing for client accounting services.”

non-cas firms cite this as the topmost reason for not being able to offer cas. nothing could be further from the truth.

more: technology and your cas clients | will 2021 be your cash-flow year? | identifying the right clients for cas | cas is, first, a communication challenge | which of your existing clients are cas-fit? | client accounting services: the definitive guide
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experience of firms that offer cas, including that of small firms with fewer than five staff members, proves beyond doubt that you do not need more staff to start offering cas. even solo practitioners provide cas. the only thing you need to begin your cas journey is to be ruthless, relentless and fearless to leverage newer and cloud technologies. automation, integration and even artificial intelligence make it easier, faster and cheaper to perform some repetitive, time-consuming work of accounting firms.
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what my boss did all day

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older man and younger man in meetingsome things never change … and shouldn’t.

by ed mendlowitz
call me before you do anything: the art of accounting

on an early job i had – in a time long, long ago with no computers, smartphones, copiers or electronic adding machines – i used to go to a client in the morning, write up their books, prepare a financial statement, drop it off at the office at end of the day and then go home.

more: why annual staff evaluations fall short | 10 ways to stay in control | advice to new accountants | clients don’t lose sleep for overpaying taxes | when time-based pricing works | how auditing is like a pirouette | ¿que es bookkeeping? | testifying before congress | underpaying others hurts you, too
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the secretary typed the report in the morning. i often wondered what my boss mr. ruben did, and whether there have been any changes in that in the half-century since i started.
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five reasons new financial advisors fail

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don’t be afraid of a learning curve.

by matt solomon

if you’re thinking about making the shift to financial advising, you might be wondering if you have the skills you need to succeed. the good news is that as an accountant, you already have all the tools you need to become a financial advisor.

more: you’re selling the wrong stuff | the path to a conscious business | tap into your gold mine | shift your practice: stop depending on compliance work
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however, having the right tools does not automatically make you an advisor just like owning a hammer doesn’t make you a carpenter. you’ll need to develop a new skill set to use your accounting tools as a financial advisor. without these new skills, accountants often fail to achieve their goals and build a business that allows them to do meaningful work, make more money and spend less time doing it.
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10 ways to stay in control

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number 10respect your staff … and vice versa.

by ed mendlowitz
call me before you do anything: the art of accounting

a new year has just begun. start it by getting and staying in control.

more: 20 best practices for staff training and retention | why create an accounting firm business model? | the clients who keep you awake at night | creating a cross-selling culture | cross-selling beyond your comfort zone | value pricing in uncharted waters | i am an accountant because of clients like stanley | advising cheapskates
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here are some ways to do this.
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you’re selling the wrong stuff

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businesswoman in a meeting with a male colleague smiling at him as they sit at a table discussing paperwork over coffeeit comes down to giving clients better business results.

by matt solomon

when you’re struggling to grow your business, success can seem mysterious. you feel like you’re doing everything right: you’re good at what you do, you give clients what they ask for and you work really, really hard. so what’s missing?

more: the path to a conscious business | are you running your practice by default? | your secret weapon for exponential profits
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the answer is hiding right in plain sight. if you aren’t seeing the growth and success you want to have, chances are that you aren’t selling what clients really want.
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how to train clients

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skip this, and both service and satisfaction decline.

by frank stitely
the relentless cpa

you’ll hate me after this post. i’m about to reveal that many of the behaviors that you rationalize as good client service are really just desperate measures to avoid losing bad clients. we’ll talk about getting out of that mess later.

more: avoiding projects hung up in process | when clients create errors | how we killed the tax season client meeting | why small firms can win the talent wars | there are no easy answers | how to thrive as a 21st-century firm | farm-aid for accountants? | whittle down wip
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clients are trainable – at least as trainable as jack russell terriers. that is to say, they’re somewhat trainable. however, like jack russell terriers, you train clients or they’ll train you. somebody’s getting trained. here’s an example of how that works.
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11 steps for handling client complaints

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they might come to you unhappy, but they don’t have to leave that way.

by jassen bowman

unhappy clients are a part of doing business. while we strive to deliver the absolute best customer service, provide excellent value in our services and run a first-class operation, it’s simply impossible to please everybody.

more: what you tell yourself matters | use checklists to get new tax clients what your tax resolution staff must do | are you quitting on leads too soon? | grow faster, be more efficient
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the key to properly and professionally addressing client complaints is to not be overtly defensive. adopting a defensive attitude usually just inflames the situation.
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peer-to-peer: your best advice for 2021

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clockwise-from-top-left-raizen-wehr-paulson-swigert-anderson-stitely.png
pivoting to 2021 (clockwise from top left): raizen, wehr, paulson, swigert, anderson, stitely

‘clients still need us.’

by 卡塔尔世界杯常规比赛时间 research

keep calm and carry on.

that may be the best overall advice for the situation we’re in.

more in surveys & research: survey: a glint of optimism for 2021| accountants say: brace for a dismal 2021 | ppp client fraud: how much risk is too much? | ppp traps: 1 in 5 accountants report shady dealings | cloudy forecasts call for rainmaking

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

and by “we,” we mean “everybody in the world.” because everybody’s got it tough. whether covid has touched close to home or not, its presence is impacting everyone.

but… how should accountants carry on? we asked. and you – the readers of 卡塔尔世界杯常规比赛时间 – delivered. adapt, pivot, focus on the client, watch your expenses – just a few of the themes gleaned from the 卡塔尔世界杯常规比赛时间 business barometer.

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