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four qualities of the wealthy

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and what they need.

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

by design, the clientele of an accounting firm’s high-net-worth practice is the wealthy, defined as having a net worth of $10 million or more.

more: 16 questions to set your practice goals | 6 steps to maximize referrals | a high-net-worth practice in four steps | how to attract the super-rich
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we know that with clients at this level of net worth, you can indeed build a $5 million high-net-worth practice.
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how covid changes succession planning

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overhead view of people solving a large jigsaw puzzlelarger firms want to drive scale; smaller firms want more distribution and leverage.

by ira rosenbloom

even as the pandemic rips through the world with horrific tragedy, it is also spawning some new ideas, some critical imperatives, and some unforeseen opportunities, especially in the area of cpa firm succession.

more: top 10 steps to maximizing profitability
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we are witnessing a heightened interest in firms committing sincerely to mergers and other practice combinations, and there is now a shifting business culture that aligns better with internal practice succession than we have seen in a long while.

these shifts in succession potential are largely a function of technology, quality of life, client needs (and demands), and resources.

let’s break it down:

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is your mission statement really a wish list?

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coffee cup by napkin with words including "action plans."3 questions it should answer.

by steven e. sacks
the new fundamentals

do you think your staff knows what your company’s or firm’s mission statement is?

wait. let me back up. does your staff even know that such a mission statement exists?

more: are you productive or just busy? | the five big rules for powerpoint presentations | how aging boomers impact the accounting profession | accounting is a profession, not an industry
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my guess is no and no. does your organization explain to everyone what actually defines success and the framework for achieving it?
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financial statements are like masks

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here’s how to show clients your true value.

by hitendra patil
client accounting services: the definitive success guide

so, the cdc has indicated that a mask also protects the person who wears it. previously, it was advised that masks stop people from spreading the coronavirus to others.

more: turn client wants into needs | what clients need now, more than ever | how to launch cas in eight steps | survey: why some firms fall behind in cas | how to lead clients into client accounting services | cas begins with a mindset
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but this post is not about coronavirus and masks. when it comes to accounting and the advisory insights hidden in the financial statements and numbers, covering those with a mask is not good for either the clients or the accountants.
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