Episode Details

Firms that want to stay independent must transform how they operate, lead, and plan for succession.

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Gear Up for Growth

With Jean Caragher

For CPA Trendlines

 “The problem that a lot of firms have is they just don’t pay attention to what succession really is until they get to the last few years,” explains William “Bill” Pirolli, executive vice president of firm services at Succession Institute, LLC, on Gear Up for Growth, hosted by Jean Caragher of Capstone Marketing. “It has to happen all throughout the lifetime of the firm in order to be properly established at the end.” 

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Pirolli, a former AICPA Chair and longtime CPA firm partner, emphasizes that succession planning must begin on day one, not five years before retirement. He cautions that too many firms wait until it’s too late to build future leaders or transfer client relationships effectively. 

He also challenges firm leaders who proudly declare their intent to stay independent but lack a strategy to sustain it. True independence, Pirolli says, requires more than avoiding private equity. It demands discipline, leadership development, and a clear operational strategy.