firms

Frank Longobardi: CohnReznick’s Battle for Top Talent

By

Frank Longobardi 2016
Longobardi

Newly named CEO launches bevy of programs to nurture skills at all levels.

By CPA Trendlines Staff

For Frank Longobardi, chief executive officer of CohnReznick, staffing is the biggest problem facing his and other CPA firms across the country.

imgres“The market is very competitive both in finding talent as well as in bringing in new clients,” he says. “Many firms face a lack of talent at the senior level and competition is also coming from private companies who look to hire managers and senior managers from public accounting firms.”

READ MORE →

Why Good Accounting Firms Make Bad Decisions

By

The dysfunctional partner team and three ways to get them back on track.

You’ve tried management by committee. And by now, you know it doesn’t work. In a new analysis of CPA firm management practices, Marc Rosenberg finds, “Management by committee rarely works.”

There must be a better way. And, yes, there are a few. Here is a five-point spectrum of approaches that firms use to make decisions. One of them may work for your firm.

READ MORE →

Ten Things Every Firm Needs to Make Clear Firm-wide

By

The main categories of information for internal communications and management. By Bruce W. Marcus Professional Services Marketing 3.0 While the substance of information varies from firm to firm, there are 10 categories that cannot go unconsidered:

Comp Plans for the New Managing Partner

By

Lessons from the best-managed firms.

By Marc Rosenberg
Author of “CPA Firm Management and Governance: The Managing Partner’s Guide to Running a CPA Firm Like a Business.”

Baby boomer partners are rapidly approaching retirement age, resulting in a dramatic increase in new managing partners at firms.

In fact, CPA Trendlines estimates that up to 25% of multi-owner firms are operating under managing partners who are relatively new to the job, with tenures under three years. And over the next five years, one-third of multi-owner firms will undergo a change in ownership and/or control. READ MORE →

What a Managing Partner Is… and Is Not

By

Why some firms decide they don’t want a true managing partner.

By Marc Rosenberg, CPA
Author of “CPA Firm Management and Governance”

Over the years, I have found that many firms lack a clear understanding of what a Managing Partner is.  Often, it’s a negative conception, caused by a bad experience at their current firm or a previous one.  So, to avoid a repeat of these bad experiences, the partners decide either not to have a MP or to provide for the MP position with greatly limited authority and responsibility.

Marc Rosenberg
Marc Rosenberg

More on CPA firm leadership and management: When Is It Time to Shift Your Firm from Partnership-style to Corporate-style Governance?  •  De-Bunking the Myth about Niche Marketing for Tax and Accounting Firms • Practice Development Is No Longer an Optional Activity • 10 Good Ways the Achieve Partner Accountability • Pick Your Partners Right to Begin With • 

The points below clarify what a Managing Partner IS and IS NOT. READ MORE →