what happens when you don’t push work down
“stop defaulting to asking every talented person you have to work more hours doing stuff other people can and should be doing.”
by bill reeb and dominic cingoranelli
retirement
why you must constantly push work down
new staff won’t work the hours you did. forget that notion right now.
by bill reeb and dominic cingoranelli
technology playing center stage in cpa profession
also: retirees who want their buyouts had better transition their clients.
by marc rosenberg
the rosenberg map survey: annual national study of cpa firm statistics
7 issues in partner retirement planning
plus 6 steps for transitioning clients.
by august aquila
survey: next generation balking at buyouts
m&a doesn’t solve succession problems.
by terry putney, transition advisors
the rosenberg map survey
succession for retiring partners continues to be a pressing issue for many mid-size and small firms.
more from the survey: many firms have already lost the battle with succession | embracing new technology a must | technology will solve labor shortages | cybersecurity grows in importance | don’t just win work, figure out why | mergers keep racing forward | map survey top 10 findings
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this is not a new trend. it is amazing how many firms are delusional about their prospects of remaining independent, while doing virtually nothing to address the core issue of acquiring and developing the talent necessary to build the new generation of owners.
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many firms have already lost the battle with succession
doomed by outdated retirement formulas.
by carl george
the rosenberg map survey
firms are continuing to struggle with succession of the partner group exiting the profession.
more from the survey: recruiting and retention are challenges | technology will solve labor shortages | cybersecurity grows in importance | don’t just win work, figure out why | mergers keep racing forward | map survey top 10 findings
while i would hope these issues are being resolved, i really wonder if it’s not too late for many.
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survey: new leaders promoting positive changes
people issues still among top challenges.
by sam allred, upstream academy
the rosenberg map survey
2015 was another good year for the profession.
more from the survey: cybersecurity grows in importance | mergers spur growth | accounting profession demands swift change | don’t just win work, figure out why | talent wars, m&a frenzy continue | next-gen leaders getting restless | mergers keep racing forward | do you have a firm or a co-op? | accountability, equity, compensation are concerns | map survey top 10 findings | cpa firm revenues rise a hefty 8%
most firms across north america performed well and were pleased with their results. most firms saw good organic growth – largely coming in non-traditional areas. more and more firms are investing significantly in growing their consulting practices – look for this to be a continuing trend.
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how to counsel on retirement planning
got clients over 50? get them talking.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
this is a specific financial planning service that helps clients plan for their retirement. this involves calculating how much a client will have to retire on and how much he or she will need.
more on marketing: how to offer employment compensation assistance | 9 questions to ask about divorce and taxes | guiding clients in investment allocation and management | how and why to offer estate planning | why cpas are suited to financial planning | how to suggest more services | adopt a marketing mindset
this work can take place one to two years before the expected retirement, or 15 to 20 years earlier. it depends on the client. you may also find yourself doing some quick calculations for a client in his or her early 50s who is being offered early retirement. whatever the case, it is a matter of paramount importance to the client, and must be treated by the accountant as such.
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survey results: it’s now a buyer’s market in mergers
retirements both inside and outside the firm cause problems.
by marc rosenberg
the rosenberg map survey
for the last 10 years or so, every year’s merger activity seems more frenetic than the year before. 2015 and 2016 continued that trend.
more from the survey: do you have a firm or a co-op? | accountability, equity, compensation are concerns | map survey top 10 findings | cpa firm revenues rise a hefty 8%
buyers are getting pickier in deciding which mergers to pursue:
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the two most common management styles
do cpa firms need management or leadership?
by bill reeb and dominic cingoranelli
let’s start out with a straightforward question. what is the difference between management and leadership?
more on performance management: 8 ways to manage clients | the limitations of rainmakers | firms only grow when partners play their roles | the four basic parts of cpa firm partner agreements | younger partners see succession differently | how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality
from one point of view, leadership is far different than management.
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8 ways to manage clients
this is job 1 for the practice owner.
by bill reeb and dominic cingoranelli
whether you simply desire to improve your firm’s operations or identify and implement a new long-term strategy, you need to be clear about the role that the owners, partners or shareholders should be playing in your firm.
more on performance management: the limitations of rainmakers | different roles for different partners | how big ‘books’ hurt firms | developing a three-year vision [video] | more merger questions than you imagined | mps: how to elect them … and fire them | partners as role models: the good, bad & ugly | managing the managing partner
to be sure, the roles and responsibilities of a cpa firm owner or owners will vary from firm to firm, based on that firm’s needs and circumstances, and you need to adapt any recommendations to fit your firm’s situation.
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the limitations of rainmakers
why marketing has to permeate the firm and the process.
by bill reeb and dominic cingoranelli
for most firms, new business comes in through referral. therefore, the bigger a partner’s client base, the more likely that partner will bring in new business – which simply means that the more clients a partner knows, the more referrals that partner is likely to receive (not in percentage, but in raw numbers).
more on performance management: different roles for different partners | dealing with a-d clients (you know who we mean) | how small ‘books’ hurt firms | why the partner agreement matters | merging for the wrong reasons | how to implement strategy, step by step | accountability requires clear expectations | how retirement issues affect succession planning | how partner ratings factor into equity
other drivers of referral success are long-standing service (seniority) and position in the firm (such being one of the named or senior partners). in these cases, there is an extended opportunity for referral simply because:
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different roles for different partners
some people should stick to technical roles, but there’s an impact on profitability.
by bill reeb and dominic cingoranelli
when you are a client relationship partner, regardless of your technical specialty, you take on the role of being that client’s general contractor for professional services – that is, his or her most trusted business advisor.
more on performance management: dealing with a-d clients (you know who we mean) | firms only grow when partners play their roles | the four basic parts of cpa firm partner agreements | younger partners see succession differently | how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality
if you are unwilling to fulfill this role, then you shouldn’t be a client relationship manager; you should be a technical partner. we define these two roles broadly as follows:
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