Attributes of High Performing Managing Partners

This RedZone discusses a few of the attributes of High Performing Managing Partners. We will discuss additional attributes in future RedZones. They are Decisive The accounting firm marketplace is changing quickly, and is requiring managing partners to make vital strategic decisions quite often, and faster, then ever before. “High Performing Managing Partners” (HPMPs) are decisive and act with a sense of urgency in making decisions to achieve higher levels of success for their firms and ... continue reading

Florida Institute of CPAs 2017 MegaCPE Conference

We hope to see you at the Florida Institute of CPAs 2017 Mega CPE Conference this week!  Accountants Advisory Group is proud to be a sponsor and exhibitor, and information about our CPA firm advisory services and “RedZone Practice Management” will be included in the show bag.  Please stop by Booth #201 to say hello.  Sign-up for our RedZone blog and enter for a chance to win a comprehensive Marketing Consultation.  We hope to see ... continue reading

Defending Against a Succession Planning Crisis

This article appeared in the May/June 2017 issue of New Jersey CPA. A succession crisis is occurring at public accounting firms across the country, driven by the vast numbers of Baby Boomer partners who will be retiring in droves over the next 10 years. Many CPA firms wish to remain independent, but few of them have completed and implemented formal plans to ensure their legacy. This crisis is the main reason the public accounting marketplace ... continue reading

Succession with a Sense of Urgency

One of the most challenging problems of leading a CPA firm in this very competitive environment is the ability to implement succession strategies and initiatives with a “sense of urgency.” In order to establish a sense of urgency, firm leaders must recognize the necessity to implement strategic goals and objectives that will continuously take the firm to higher levels of success, and achieve timely and appropriate succession plans. Progressive type leaders create a sense of ... continue reading

Using Leverage and Balancing the Pyramid

Many accounting firms have become under-leveraged, creating significant problems with succession planning, growth, profitability, and staff retention. There is a direct correlation between the ability for partners to delegate and leverage their time and the ability to grow the firm and increase profitability. In addition, this issue has been fueling the volume of merger activity over the last five years. The demand and competition for quality staff is a major obstacle in establishing the proper ... continue reading