Integrative Advisory Services is the CPA, accounting professional and bookkeeper's guide to the future. As technology paves the way for increased self-reliance and DIY financial services, much of the traditional data entry tasks of accounting professionals and bookkeepers will be reduced. Yet, nothing can replace the human side of the client-advisor experience and the desire to improve your clients' businesses with financial information. Technology will continue marching on, so accounting professionals must adapt to the changing marketplace to thrive in this new paradigm. This book shows you how to provide the kind of value that technology cannot: human connection. Rather than simply reporting data, today's accounting professionals have an opportunity to take a much more active role in their clients' business by analyzing the story behind the numbers, understanding both operations and finance, and guiding the client toward the outcomes they need. Creating an ongoing relationship throughout the year allows you to be proactive rather than reactive, and help your client's business at a holistic level.
Your business owner and CEO clients can get the numbers from the computer too - but, they come to you for personalized advice, explanations, and guidance based on their unique situation and financial needs. This book shows you how to take on more of an advisory role and become a critical component of your client's success.
- Spend less time crunching numbers and more time advising clients
- Become an integral part of the client's decision-making process
- Provide real value by clearly communicating financial data analysis
- Become the strategic partner your client cannot do without
Cloud technology, machine learning, and artificial intelligence are not the death knell for financial advisors; in fact, they're the opposite - they do the number crunching for you, leaving you more time to provide the personal guidance that no computer could. As the financial advisory industry evolves, Integrative Advisory Services is your real-world guide to adapting and thriving.
Table of Contents
Preface v
Acknowledgments vi
Introduction vii
Chapter 1 History of the Accounting Profession:
From Compliance to Advisory 1
Technology and Humans 3
Looking Back on Accounting 5
Reaching for the Cloud 10
Humanity versus Machine 12
New Opportunities Abound 13
Where Does Your Business Go from Here? 15
Summary 17
Endnotes 18
Chapter 2 Bringing the Human Side to Technology 19
The Old Way of Data Flowing versus the New Way 21
What CEOs Want from Their CFOs 23
Choosing Your Vertical Industry Niche 25
Steps to Create Your Cloud Platform 34
The Cherished Advisor Journey 39
Summary 43
Endnotes 43
Chapter 3 The Cherished Advisor: The Transformation
Journey beyond the Technology 45
Documenting the Business Processes 47
Obtaining Needed Technical and Business Skills 55
New Staffing Model 60
Pricing and Packaging 66
Summary 70
Endnotes 70
Chapter 4 Strategies for Marketing Your New Advisory
Experience 71
How Do You Want to Design the Client Experience? 73
Building an Overall Architecture 74
Creating and Implementing a Marketing Strategy 81
Online Marketing 87
Networking 97
Referrals 98
Summary 99
Endnotes 99
Chapter 5 Creating a Successful Sales Model and Client
Onboarding Process 100
The Science of the Sale 101
The Simple Sales Process 102
Client Onboarding Process 116
Creating a Project Plan 123
Automating Your Internal Processes with CRM 131
Summary 133
Endnotes 133
Chapter 6 Building Lasting Relationships 135
Creating Personalized Virtual Relationships 140
Creating Touch Points to Stay Engaged 142
Interpersonal Awareness to Succeed as an Advisor:
Collaboration, Influence, Negotiation,
and Communication 147
Leadership Capabilities to Grow the People Around You:
Team Satisfaction and Rewards 158
Succession Planning Tactics for Bringing Up the Next
Generation of Leadership 167
Summary 175
Endnotes 176
About the Author 177
Index 179
