here’s what you’re looking for: marc rosenberg

client service opportunities

financial services up at largest firms, down at smaller ones

couple meeting with investment advisor.conflict of interest is one reason smaller firms shy away from rias.

the largest cpa firms are by far the leaders in providing investment advisory services, but the rest of the profession does not appear to be following their lead too closely.

fifty-eight percent of the profession’s largest firms, with more than $20 million in annual fees, offer investment advisory services, up from 51 percent in 2012, and another 9.1 percent were at least somewhat likely to add the services to their menus, according to the “the national map survey of cpa firm statistics: the rosenberg survey.”

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management

early data exchange vital to evaluate a merger

three possible outcomes from trading numbers early.

by marc rosenberg
cpa firm mergers

i have always been a big believer in the buyer and seller exchanging financial and operating information as early in the process as possible.

more on cpa firm mergers: deciphering the current state of the cpa firm merger market | the law of attraction: 15 ways to romance a merger partner | the 14 keys to a successful merger | mergers: 11 lessons from done deals | the 21 steps in every merger deal | today’s 15 essential deal points in accounting firm mergers

numbers aren’t everything, but they do speak volumes. the data enable each firm to gain an understanding of the other in a manner that is not always possible in conversation.

the data is also a good way to corroborate things that are said verbally. here are some examples: read more →

mergers & acquisitions

cpa firm mergers: 18 categories of data to divulge — carefully

dices cubes with the words sell buy on financial downtrend chartby marc rosenberg
cpa firm mergers

think of it as a second date. the first meeting was simply a “getting-to-know-you” encounter. but now the prospective merger participants, buyer and seller, are getting serious. they need to take the next step and exchange key performance indicators and financial and operating metrics.

there are at least 18 categories of data that need to be considered, each with it’s own peculiar in’s and out’s.
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outlook & analysis

partner aging strikes smaller firms the hardest

older man and younger man in meetingas partners work longer, average partner incomes decline.

the aging in the partner ranks of the cpa profession is by far most prominent at  smaller firms, according to the most recent edition “the national map survey of cpa firm statistics.”

at firms with less than $2 million in fees, the percentage of partners over the age of 50 has risen to a startling 73.3 percent, up from 65.4 percent last year.

and at firms with fees of $2 million to $10 million, the number has risen to 66 percent from 65.3 percent. read more →

management

before negotiations begin: 18-item checklist for a first meeting

the “getting-to-know-you” stage for prospective buyer and seller

by marc rosenberg
cpa firm mergers

all merger discussions have to begin somewhere. after merger candidates have been identified, there obviously needs to be an initial meeting for the two firms to get acquainted.

everything is confidential and informal. no exchange of financial statements.  the two parties simply spend an hour or two – you guessed it – getting to know each other.

many firms like to convene this meeting over breakfast or lunch because meeting at a restaurant gives the encounter an air of informality and sociability.  other firms like to do this in the larger firm’s office so that the smaller firm can get a “house tour.” read more →