How to Make Your CPA Firm Become a Trusted Financial AdvisorPosted by Stokholm Pollock on July 30th, 2021 Statistics have shown that more CPA firms are beginning to add an advisory role to their services. This is as a result of the yearnings of clients wanting more of these services. But for your accounting firm to play a strategic advisory role is not something you can achieve overnight. It’ll take time for clients to see your CPA firm in a new light. You need to put in the work to show them you’re not just any CPA who offers financial advice but a trusted and experienced financial advisor. The following tips can help you become one of the best and trusted financial advisors in the accounting industry. 1. Provide personalized service Some of the reasons clients require more advisory services are that they need a deeper look into their finances and want someone to develop a roadmap to help advance their business. They need more than the profit and loss bookkeeping. To do this, you need to provide personalized accounting services to clients . You need to show them you have deep knowledge of their business and give them helpful advice. Provide personalized financial reports while highlighting trends, bottlenecks, and successes you’ve found. Give them advice that collaborates with their business objectives and provides improvement solutions. 2. Give room for effective communication Communication is key to the success of every business organization. When you communicate well with clients, they know you have their interest at heart, and you know what their business needs to thrive. A look at client's financial data gives you insights into what their company should be doing. Communicating those insights well shows you’ve done the legwork and have something to back up your advice. It’ll make clients trust the steps you’re taking as the best path. 3. Show clients you’re available People go to medical doctors only when they are sick or unwell. The same way companies think they can go to CPAs only when they need a financial report or have tax-related questions. This shouldn’t be the case for you. You need to show you’re available to serve them in an advisory capacity. You must build a year-round relationship with your clients. Let them understand you’re always available to help. You can leverage cloud-based technology to achieve this feat. With such a tool, you can provide clients real-time updates on their financial status. Cloud technology will enable you to provide clients with financial advice regularly. Instead of waiting for quarterly or yearly reports, they can have their financial statements whenever they need them. This will make them rely on you. Clients appreciate knowing you’ll always be there to guide them. 4. Protect clients’ data All the tips mentioned above will become useless if you can’t keep clients’ data safe. The first thing that will make clients trust you is knowing you can safeguard their data. Show clients measures you’ve put in place to protect sensitive information from potential threats. CPAs are in the best position to offer sound financial advice to businesses. You need to establish trust with clients so that they can turn to you for advisory services.Like it? Share it! More by this author |