Episode Details

Only firms embracing culture, collaboration, and client impact will survive the next era.

By Rory Henry CFP®, BFA™

For CPA Trendlines

The traditional CPA firm model is at a major crossroads. With an aging leadership base, evolving client expectations, and growing private equity interest, firms must rethink how they operate—or risk falling behind. 

• MORE Rory Henry and The Holistic Guide to Wealth Management
• BUY the Holistic Guide to Wealth Management

“Many firms are still stuck in outdated models centered around hours and billables,” observes Randy Crabtree, CPA, founder of Tri-Merit Specialty Tax Professionals, during a recent panel discussion for contributors to my new book Holistic Guide to Wealth Management. Crabtree says he’s avoided time tracking for most of his career because he believes it distracts from real value delivery. 

“We can do things better and more efficiently,” says Crabtree. He argues that if working more efficiently means it takes less time to get the work done, then we shouldn’t be paid less money.  

Like Crabtree, fellow panelist, Susan Bryant, CPA, CTC, founder of Unboxed Advisors, stresses that compliance work — while still important— can no longer be the centerpiece of a thriving firm.