more firms see the problem. but fewer are doing anything about it.
by rick telberg
just at a time when accounting firms are struggling to gain new clients and hold on to the ones they already have, client satisfaction ratings appear to be dropping.
many expect to work ’til 70 and never retire, others hope to sell.
the nation’s small business owners’ views regarding retirement are radically shifting, with many seeing themselves working 20 years or longer – or never formally retiring at all.
as a result of longer life expectancies and the impact of the recession, the majority of small business owners can no longer embrace a traditional view of retirement, in which individuals stop working in their mid-60s for a life of leisure – something fewer than 10 percent foresee themselves doing, according to a new study by the guardian life small business research institute.
you can’t do it alone. too many cpa firms fail to adequately understand the broad range of services required to properly service their high-net-worth personal financial planning clients, according to a longtime leader in the field. “i have long been … continued
signs of resignation among sellers.
in what may come as mixed news for tax and accounting professionals, the pace of small businesses sold accelerated 8 percent in the second quarter of 2011, but it may be because owners are accepting that their businesses aren’t as valuable as they used to be.
oft-overlooked by cpas, these ideas can set you apart as a personal financial adviser.
by al prentice
1st global
as cpa wealth managers know, the foundation of a holistic financial plan requires tax-optimized planning.
winning new business is a team sport. spectators need not apply.
by gale crosley, cpa
crosley+company
the best firms are involved in the relentless pursuit of creating a firm-wide growth culture. read more →
despite cpas’ huge advantages, why do they own only one-tenth of 1% of the business? the cpa profession could — if it mobilizes on the opportunity — quickly become the dominant provider of comprehensive high-profit wealth management and financial planning … continued
clients were already clamoring for it.
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in this series of video bites, david strother, financial services director at dsf wealth management, the investment arm of darnall, sikes, gardes & frederick cpas in lafayette, la., explains how the firm decided to enter the wealth management business… and what they learned, sometimes the hard way.
$200,000 per year doesn’t cut it anymore.
the established notion of “mass affluence” is getting pushed aside by a new study that redefines the spending power of the truly and the up-and-coming affluent as the “class affluent” and the “emerging affluent.”
key findings:
the 14 strategies to build better business relationships.
it’s been said that when you look for the good in others, you discover the best in yourself.
it’s nowhere so true as in the accounting business. contrary to the cliche, accounting is a people business — most accountants spend a lot of time working directly with staffers, colleagues, superiors, clients and maybe-clients.
how big is a small firm? aicpa says $25 million.
new market intelligence has surfaced as the result of a small row between the aicpa and the u.s. small business administration, suggesting the idea of a mid-sized firm may be a wishful notion. according to aicpa calculations, big four firms control about half the revenue and half the jobs, and most of the rest of the industry should be classified as small business.
the rise of the accountant-adviser.
via smart money
a growing number of cpas are refashioning themselves as more well-rounded financial advisers.
some 5,000 cpas now boast a “personal financial specialist” credential, up 28% since 2008, and another 7,650 accountants are now certified as financial planners by the certified financial planner board of standards.
and many of those who aren’t worried, should be.
almost 40 percent of working americans say they will never afford retirement, which, for the second year in a row, ranks as the nation’s most important financial concern, according to an aicpa survey.