Practice Development news March 2013

Practice

How to Attract New Partners from Inside and Outside Your Firm

Firms looking to add new partners need to abandon "archaic approaches" to doing so, be it with existing staff or when looking at outside candidates. This is the message from "How to Bring in New Partners," written by Marc Rosenberg of The Rosenberg Associates consulting firm.
Practice

The One Key to a Dignified Retirement? Starting Early

The role of a financial planner and particularly a financial planner in a CPA firm, is to educate our clients that retirement planning is not about market timing. It's not about investment returns. It's all about having a consistent plan and then sticking to that plan.
Practice

Strategies for Utilizing Permanent Life Insurance in Qualified Plans

One of the advantages offered by qualified retirement plans is the ability to acquire life insurance on plan participants using existing plan assets and future contributions to pay the premiums. This allows the plan to obtain life insurance coverage on plan participants with tax-deductible dollars.
Practice

Eight Major Risks to Your Clients' Retirement

Everyone wants a safe, stable and certain flow of income to sustain their ideal retirement. But if you were to ask five different relatives and friends what retirement means to them, you would likely receive five different answers.
Practice

Are You a Secret Expert?

Do you serve a particular niche especially well? Have you served clients with complex issues that took a great deal of research? Do you have more knowledge than most in a particular area of tax or accounting? If so, congratulations – you're an expert. But are you keeping your hard-earned expert status a secret?
Practice

CPA Firms Need to Find New Ways to Build Revenue in Post-Recession World

The US accounting services industry, including CPA firms, is expected to remain in a slow-growth mode, with annual revenue expected to rise a pedestrian 1.3 percent this year, to $72.9 billion.
Practice

Tax Season May Be Opportune Time to Market Tax Preparation Services

With less than a month left to go until the April 15 tax deadline, most tax return preparers are up to their elbows in work. Nevertheless, it might be an opportune time to land some new clients.
Practice

What You Need to Know Before Recommending a Financial Advisor

Being able to offer sound financial planning advice for clients will require an accountant to gain certification, designation as a financial advisor, or to partner with someone who can be entrusted to serve clients well in this area.
Practice

Johnstone, Graydon & Thompson to Merge with Scott and Company

The South Carolina CPA firms of Johnstone, Graydon & Thompson CPAs, PA and Scott and Company, LLC have entered into a letter of intent to merge on June 30, 2013.
Practice

Chicago-Area Firms Pacion Ajder and Lipschultz, Levin & Gray Merge

The Chicago accounting firm of Pacion Ajder PC merged into the Northbrook, Illinois-based practice of Lipschultz, Levin & Gray, LLC (LLG) effective February 1, according to a press release from LLG.
Practice

Teaming with a Financial Advisor

Recommending a financial advisor to a client is one of the most important recommendations you can make. Customers will trust your recommendation; therefore, there is a potential your future with that customer could be impacted.