Competition is intensifying, but proper service to one client base could be all you need.
By Russ Alan Prince
In many ways, the accounting industry is under pressure. For example, fee compression is an issue for many accounting firms. More savvy and cost-sensitive clients are looking for a “bargain.” At the same time, competition for many of the services some accounting firms provide is intensifying. Tax consulting, for instance, is being done by wealth managers, lawyers and even some life coaches.
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While many accounting firms are under pressure because of increased competition and more demanding clients, there are certain types of clients that prove exceedingly profitable.
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