Focus on return on relationship, not just ROI.
By Rory Henry
The Holistic Guide to Wealth Management.
There’s no question the pandemic accelerated the accounting profession’s transformation and the entry of private equity (PE) into the marketplace. In many ways the pandemic years were an inflection point. The old way of doing things – meeting clients face to face and providing tax and accounting services – is essentially over. The pandemic and private equity are propelling the profession forward as firms adopt new service offerings, change how they operate, and find innovative ways to recruit, retain and compensate talent.
MORE Rory Henry and The Holistic Guide to Wealth Management
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PE is considered “smart money” because it has a track record of building better business models, increasing efficiencies and then selling the companies and firms they invest in for a profit. Smart money sees enormous potential by investing in accounting firms thanks to technology that makes it easier than ever to integrate professional services on a much larger scale.
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