Liz Farr, Author at CPA Trendlines

Rory Henry: Create the Return on Relationships | The Disruptors

Be a client-centric human in a world of AI and technology.

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The Disruptors
With Liz Farr

Rory Henry asked himself, “Why don’t financial advisors and CPAs work together?” It boggled his mind because both work with the client’s finances but are not always in sync. “We’re advising them on their businesses, and then the wealth advisor takes over and manages the finances,” Henry says. “But really, one decision affects another.”

MORE RORY HENRY: The Holistic Guide to Wealth Management | MORE DISRUPTORS: Mike Maksymiw: Be the Leader You Wish You Had | Terrell Turner: Build a Solid Business Showing Up as Yourself | Kelly Mann: Be the Bull in the China Shop | Alicia Katz Pollock: Create A Human-Centric Business | Nancy McClelland: Be the One Your Clients Ask First |Alan Whitman: Stop Accepting the Status Quo | Sean Duncan: Discover Your Own Genius |

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The ultra-wealthy have long used the family office model to bring a staff of CPAs, attorneys, and advisors to provide governance, legacy planning, and intergenerational wealth planning. At Arrowroot Family Office, Henry is leveraging technology to bring the benefits of the family office model to everyone. “So it’s really integrating these solutions, using technology, using relationships, to really provide for the many needs of the business and the personal finances of your clients.”

INNOVATION & CHANGE MANAGEMENT

Mike Maksymiw: Be the Leader You Wish You Had | The Disruptors

If no one’s complaining that your fees are too high, your fees are too low.

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The Disruptors
With Liz Farr

Mike Maksymiw, the leader of Aprio Firm Alliance, hates charge hours as a primary performance metric. He even left a firm where he was a partner because of a dispute over charge hours. Although he exceeded his revenue goals by a healthy margin, he was penalized because he got the work done in fewer hours.

JOIN Liz Farr at the Linkedin CPA Trendlines Group | MORE Liz Farr | FOLLOW Liz Farr on T he Disruptors wherever you get your podcasts: Apple, Google/Youtube, Spotify, iHeart, Deezer, Amazon Music, Audible, Player FM, Audacy, RSS. | MORE PODCASTS and VIDEOS: Terrell Turner: Build a Solid Business Showing Up as Yourself | Kelly Mann: Be the Bull in the China Shop | Alicia Katz Pollock: Create A Human-Centric Business | Nancy McClelland: Be the One Your Clients Ask First |Alan Whitman: Stop Accepting the Status Quo | Sean Duncan: Discover Your Own Genius | Ingrid Edstrom: True Wealth Is Not Financial | Caleb Jenkins: Firm Growth Requires Owners to Shift Roles |

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“The main thing I was supposed to do, I was doing,” he tells Liz Farr in this episode of The Disruptors. And if he hadn’t been meeting his revenue goals, that deficit in hours would have been something to remedy. “So I don’t want people to think there’s no place for these metrics. We need to put them in the right order that makes sense for running a business.”

INNOVATION & CHANGE MANAGEMENT

Terrell Turner: Build a Solid Business Showing Up as Yourself | The Disruptors

Your clients may need a great deal of empathy and not just tactical advice. Plus 13 key takeaways.

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The Disruptors
With Liz Farr

Terrell Turner started his “journey of doing things differently” on April 1, 2020, during the pandemic. While “2020 was the reset button for everyone,” that reset offered Turner a tremendous opportunity to create a new kind of firm. “We don’t have any history in doing this,” Turner recalls thinking. “So how would we do this in this new environment that we’re in?”

MORE Disruptors | MORE CPA TRENDLINES PODCASTS and VIDEOS: Kelly Mann: Be the Bull in the China Shop | Alicia Katz Pollock: Create a Human-Centric Business | Nancy McClelland: Be the One Your Clients Ask First |Alan Whitman: Stop Accepting the Status Quo | Sean Duncan: Discover Your Own Genius |

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His path to founding a firm was unusual – from public accounting to industry and back to public accounting. He credits his time in industry with providing a “really solid foundation” in connecting processes with the impact on the financial statements. “I think being able to connect those dots is something I would have never been able to do had I not worked in industry for some time,” Turner says.

GROWTH STRATEGIES

The Community of Accountants Is a Superpower

Leave your silos and explore an incredible breadth of options.

By Liz Farr

Accounting, by its nature, is a solitary activity. But we don’t have to solve our firm’s problems alone. We don’t have to suffer alone.

JOIN Liz Farr at the Linkedin CPA Trendlines Group | MORE Liz Farr | FOLLOW Liz Farr on T he Disruptors wherever you get your podcasts: Apple, Google/Youtube, Spotify, iHeart, Deezer, Amazon Music, Audible, Player FM, Audacy, RSS.

All we need to do is reach out to others, listen, ask for guidance, and know we will be heard and supported.

AUDIT & ASSURANCE

Kelly Mann: Be the Bull in the China Shop | The Disruptors

Stop following SALY. Think about what you are trying to accomplish. Plus 17 key takeaways.

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The Disruptors
With Liz Farr

Kelly Mann wants firms to stop relying on SALY – same as last year – for everything: “Everything is same as last year, the way we give bonuses to people, the way we split partner compensation, the way we monitor hours, the way we prepare a work paper, the way we plan an audit,” she says.

MORE PODCASTS and VIDEOS: Alicia Katz Pollock: Create A Human-Centric Business | Nancy McClelland: Be the One Your Clients Ask First |Alan Whitman: Stop Accepting the Status Quo | Sean Duncan: Discover Your Own Genius | Ingrid Edstrom: True Wealth Is Not Financial | Caleb Jenkins: Firm Growth Requires Owners to Shift Roles | Chris Hervochon: Be the Leader You Want to Work For | Ira Rosenbloom: Don’t Merge for the Money | Adam Lean: Get Out of the Accountant’s Trap

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When she started in audit, Mann was told to “try not to be such a bull in a china shop.” She saw many opportunities for improvement by departing from SALY, but leadership told her, “Don’t have crazy ideas, don’t mix everything up, because change is hard and change disrupts.”

Liz Farr

MORE AT STORE.CPATRENDLINES.COM

Liz Farr, CPA, is a special contributor to CPA Trendlines, bringing an insider's clear-eyed view of the tax and accounting business and a passion for advancing the profession.

She's the host of the hit CPA Trendlines podcast series "The Disruptors," available everywhere: Apple, Google, Spotify, iHeart, Deezer, Amazon Music and Audible, Player FM, Audacy, Gaana (India), and Boomplay (Africa).

As founder and proprietor of Farr Communications, she is the secret weapon that her clients use to get their messages out. She has written blog posts, web content, articles, white papers, case studies and books for accountants and accounting tech companies. Her specialty is ghostwriting for coaches and consultants who want to move accountants into the future. She can bridge the gap between the dream these visionaries have for the future and the mindset and reality that today’s accountants are living in.

Five of her past and current clients have been named to Accounting Today’s annual list of 100 most influential in accounting. She has written under her name for the Journal of Accountancy, Intuit’s Firm of the Future blog and AccountingWEB. She has also appeared in Forbes, CFO.com, and Accounting Today.

Farr has a broad educational background, studying biochemistry at the University of Munster, Germany, and obtained her bachelor's degree as a double major in biochemistry and German at the University of New Mexico. She also studied German, Spanish, computer science and linguistics at the University of Wisconsin-Madison and continued her studies in linguistics at the University of Washington. She earned her master's degree in accounting in 2004 from the Robert O. Anderson School of Management at the University of New Mexico, qualifying as a licensed CPA in 2005.

Professionally, Liz began as a tax preparer at H&R Block before working at several local CPA firms in the Albuquerque, N.M. area. At her last assignment as a tax manager, she helped a team develop streamlined processes for getting tax returns out faster and more accurately.

After spending 15 years working as an accountant in the Albuquerque, N.M., area, she traded in her ten-key for a pen and has been writing full time since 2018.

She can be contacted at Farr Communications.

When she’s not writing or studying the accounting business, she’s hiking or skiing in the mountains of New Mexico.

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This is a preview. PRO Members always get the complete video episode, with commentary and transcript. | Go PRO here

This is a preview. The complete 1-hour video episode, with commentary and transcript, is first available exclusively to PRO Members | Go PRO here

Click to subscribe anywhere: Apple, Google/Youtube, Spotify, iHeart, Deezer, Amazon Music and Audible, Player FM, Audacy, Gaana (India), Boomplay (Africa), or RSS.

This is a preview. The complete 1-hour video episode, with commentary and transcript, is always available exclusively to PRO Members | Go PRO here

Click here to load your Apple podcast app. Subscribe anywhere: Apple, Google/Youtube, Spotify, iHeart, Deezer, Amazon Music, Audible, Player FM, Audacy, RSS.

This is a preview. The complete 1-hour video episode, with commentary and transcript, is first available exclusively to PRO Members | Go PRO here

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