Tax & AccountingJuly 26, 2022

3 steps to developing a successful advisory services model for your accounting firm

By: Wolters Kluwer Tax and Accounting

It may seem like circular logic, but one of the best ways to help your business grow is to help your clients grow their businesses.  

The pandemic and the economic uncertainty it created has made it harder for tax and accounting firms to attract new clients. So smart firms are looking at a new solution: advisory services. A recent survey by Spotlight Reporting found that accounting clients are in need of advisory services year round. To fulfill that need, nearly 80% of respondents indicated that they plan on offering or expanding advisory services in the future.

Building an advisory practice that focuses on the value-add services your clients need is a great strategy to set your firm up for long-term success. So, you know why strengthening your firm’s advisory services should be a priority, but maybe you need help with the how. Get ready for answers on August 16 at 2 p.m. EDT as Ernie Villany President, Primary CPA at Boulder Valley CPAs shares his insights, experiences, and best practices for developing an advisory service business model during our “3 Steps Your Firm Can Take Today to Develop an Advisory Service Business Model” webinar.

This valuable webinar will focus on these three steps:

  1. Implementation: You’ll learn how to define a menu of service packages based on your clients’ specific needs—bundling tax advisory services with each engagement. You’ll get tips on determining pricing for each package and creating an automated monthly subscription. Not sure where to start with pricing? You’ll be excited to learn that advisory service fees on average can be five times more than tax preparation fees!
  2. Communication: Now it’s time to sell those services. The webinar will include actionable ideas on how to communicate your new advisory business model to existing clients and how to advertise online and on social media to attract new clients. 
  3. Transition: You’ll learn how to seamlessly transition current clients to advisory relationships—increasing your value as a strategic partner in the process.

Our experts also will share advice on how to standardize tax advisory services delivery across the firm, how to conduct a capacity analysis to evaluate how many staff to dedicate to advisory services, and tips on training them. Plus, they’ll discuss how to use the Return-on-Investment Calculator for CCH Axcess™ iQ to help identify how much this software solution could save your firm in productivity and administration compared to your current processes for offering tax advisory services.

Ready to learn more about the steps that your firm can take today to build a successful advisory practice?

Watch the “3 Steps Your Firm Can Take Today to Develop an Advisory Service Business Model” webinar on-demand now by clicking here.

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and expertise that helps tax, accounting and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed and accuracy.

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