Episode Details
Back to EpisodesAlex Drost: Firms Must Be Scrappy to Compete with PE-Backed Competitors | Gear Up For Growth
Description
As private equity gains momentum in the accounting industry, firms face a decision: embrace external investment or double down on independence.
Gear Up for Growth
With Jean Caragher
For CPA Trendlines
In a recent episode of the Gear Up for Growth podcast, Alex Drost, managing principal of Connection Builders, discusses the growing interest of private equity (PE) in the accounting sector. Hosted by Jean Caragher, president of Capstone Marketing, the conversation delves into the driving forces behind PE investments, the challenges faced by both investors and accounting firms, and how firms can prepare for the evolving landscape.
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The accounting profession is no stranger to change, but according to Drost, recent shifts are reshaping the industry more dramatically than ever before. “We’re seeing changes not just in technology but in the makeup of the profession itself,” he says. “The aging partner base and different generational approaches to firm ownership are creating gaps that private equity sees as opportunities.”