succession

the profession’s four biggest dilemmas

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and four simple solutions.

by rick telberg

if this is february, then it’s the season for already forgetting our new year’s resolutions. i don’t know about you, but i’ve already broken a few of them.

but there are some new year’s resolutions that we cannot afford to ignore. for accountants, here are just four. that’s right: only four. that’s all we have space for here. but each is hitched to a pervasive dilemma within the profession.

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larry autry, wp: looking to acquire a practice group

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strategy 2012: succession solutions

what are your critical challenges for 2012, and what can do you about them? a number of the profession’s leading lights have been sharing their thoughts with accounting today. here’s one:

larry g. autrey
whitley penn

the aging of partner ranks. older partners want to continue when they’re in good health, while younger staff sees that as preventing their career progression.

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succession planning: what’s your excuse?

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are you scaring away the next generation of owners?

via accountingtoday

you know it’s important. so why do only 35 percent of multi-owner firms and 9 percent of sole proprietors have written succession plans in place?

robert fligel

“most firms don’t have any plan,” robert fligel, president of rf resources tells accounting today. “even to do a memo would be a major accomplishment… it’s human nature; we don’t want to deal with mortality because it’s a very daunting thing. but there’s a fantastic sense of relief when you do these things. and you should think about your clients – you don’t want to leave them in a lurch.”

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john ezell: the new m&a race for clients

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remember when it used to be about a staff shortage?

john r ezell
john r. ezell

but when we asked john r. ezell, the veteran accounting firm mergers and acquisitions broker, about key trends for local firms, this is what he said:

john r. ezell, cpa
prohorizons network, inc

there is still a lot of uncertainty in the economy right now.

access to clients is the number one driver behind most of the merger and acquisition activity we are seeing.  a broader client base means greater client diversity which translates to more stability for an accounting firm.

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