Many business cost experts are urging CPA firms to replace billable hours with fixed pricing rates. Ouch! This is a topic that always sparks controversy as some firms adopt the practice and others do not. There are pros and cons to both sides of the fixed pricing question and the important part is finding out which direction makes the most sense for you, your firm, and your clients. Which billable method will attract more new clients and how will you promote it? If you’ve wondered what and how a switch from the old method to the new might affect your firm, here is an article that will be helpful. Read more.
More than half of all CPAs and financial planners say their client’s biggest concern as they near retirement is “Will my money run out?” This worry is proving to be a real concern as we live longer – often depleting our financial reserves. A serious illness can wipe out savings and it is one of the largest causes of bankruptcy today. Interestingly, financial professionals also say that though most of their clients worry about this issue, less than 11% do anything about it. These challenges present new opportunities for CPAs and financial advisors to offer clients additional services to guide them into their retirement years with a feeling of safety rather than fear. Read more.
Accountants today are doing more and more hands-on problem solving – and liking it. Accountants enjoy solving problems for their clients and feel more productive when they actively participate in the growth of a client’s business. Additionally, clients appreciate interaction with their accountants…and, best of all, it is a great, new client strategy. In recent years, the role of the financial professional has evolved to a highly visible partner, advisor, counselor and leader – and that’s a good place to be for growth on both sides both sides of business! Read more.
MDG Certified Public Accountants and Consultants…