mergers & acquisitions

thirteen things to consider before you sell your practice

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man sitting at desk, staring off thinking

are you being realistic?

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: i am getting older and want to continue working at least five more years. should i merge now to anticipate and facilitate a buyout?

more: how much is your tax practice worth? | ready to retire? selling your practice is no strategy | uncooperative partner might not be the problem | merge in lower-priced work without losing out | 20 things you need for a business valuation
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response: selling means retiring. is that something you want to do? i’ve written many times about being clear about your goals and what you really want. that being said, here is a general discussion about the reality of the value of your practice.
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be the flywheel to increase revenue

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“this will be the largest transfer of wealth the nation has ever seen in such a short period of time.”

by rory henry, cfp®, bfa

henry

rory henry is a director at arrowroot family office and host of the wealth management forward podcast. he can be reached to discuss ways to integrate financial planning into your practice through the cpa partnership program at (310) 566-5865 or at rory@arrowrootfamilyoffice.com.

the financial advice business is undergoing significant change, particularly in the accounting and wealth management sectors. the arrival of private equity firms, combined with the rise of m&a and rapid advancements in technology, has shifted the landscape considerably. while these changes are unsettling to some practitioners, i view them as opportunities.

more: four core principles for elite wealth management | why you need a team of experts | why a virtual family office? why now? | is your client’s umbrella big enough? | your client’s instincts are wrong | preserving wealth is a different mindset | three approaches to investment consulting
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in many ways, a cpa is a flywheel at the center of the financial advisory engine. all the other providers and advisors rotate around the cpa, and together they build momentum as the firm expands its offerings and as the advice engine gains speed and confidence.

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robert fligel: private equity shakes up m&a

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opportunity or threat? it depends.

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private equity takeovers of accounting firms are changing the rules for the cpa business, impacting succession plans, shifting talent strategies, and reshaping the competition, according to robert fligel, ceo and founder of rf resources, one of the nation’s leading advisors.

more: dustin verity: keep an open mind and constantly learn | secret to success? a growth and abundance mindset | o.d. lanier: stepping into advisory | from tax to transformation | early adopters gain an edge in audit | why the future is in risk advisory | four strategies for a future ready firm clayton oates: one way to keep clients for life | randy crabtree: follow these three rules to keep employees happy | erik solbakken: yes, you can work less and make more

see all: podcasts and videos here

in this exclusive interview with 卡塔尔世界杯常规比赛时间, fligel, a veteran dealmaker in the vast and active new york market, explains what pe firms may not want you to know, why cpa firms are suddenly so much in demand, and the often-uncertain outlook for owners, staffers, and the profession.

for some, pe is an opportunity. for others, a threat. fligel helps sort it all out.

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five business models for wealth management

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choosing the wrong one could be detrimental to your firm.

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

central to establishing your accounting firm’s wealth management practice is selecting a suitable elite wealth management business model. a lot of thought goes into deciding first if wealth management is applicable and meaningful at an accounting firm; and second, if so, the best way to establish and grow a wealth management practice.

more: stop selling and start discovering | create family dynasties and add value, roi | four core principles for elite wealth management | is elite wealth management right for you? | wanna know what clients say about you? | why accountants fail at wealth management
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the choice of business model makes a great deal of difference. there are five main business models to choose from.

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five ways to put success into succession planning

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a robust mentoring program can be critical.

three climbers helping each other up a hill

by bill penczak

legendary general electric ceo jack welch is reported to have lamented the choice he’d made in his successor, choosing someone based on their personality and ability to navigate the politics of the position instead of someone who could successfully lead the company into a brighter future. welch was correct. today, ge is a shell of its former self because of its leadership choice.

more: o.d. lanier: stepping into advisory | secret to success? a growth and abundance mindset | future firm growth requires a mindshift |the great resignation: five reasons accountants are quitting | five global cpa leaders: four survival strategies | planning for success in 2021 | do you have the guts to beat the covid crisis?
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welch’s one gaping failure as an otherwise stellar executive started me thinking about the current state of baby boomer-led and owned cpa firms, and how many of them are likely to commit the succession errors of ge. or worse, do nothing at all in terms of creating and sustaining a cpa firm into its next iteration.

as firms are giddy with the prospect of a new year and with covid in our rear-view mirrors, here are five considerations for generational succession of a middle market firm:

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merging? protect your staff

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five young business people at work in an office setting.if your people matter, show it.

by marc rosenberg
cpa firm mergers: your complete guide

when a cpa firm acquires or merges in a smaller firm, it is common for the seller’s staff to be employed by the buyer.

more: cherry-pick your merger partner | 34 steps to implement a merger | m&a: the six types of due diligence | why solo cpas need pcas | where mergers go wrong
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in this situation, there are two very important documents to be executed between the buyer and the seller’s staff:
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