IPA Spotlight: Engineered Advisory Accelerator

What is the biggest opportunity for firms / the profession?

The biggest opportunity right now for firms would be to make the mindset shift from compliance to advisory.  Often professionals find the path of least resistance to provide compliance services, but the real value is delivered when we can help clients better protect, preserve or grow their business or personal wealth. This means firms need to get comfortable looking out the windshield and anticipating needs as opposed to looking in the rearview mirror and providing reactive compliance services.

What is the single biggest challenge facing firms right now?

With more and more firms shifting from compliance to advisory, offering clients the services they need may feel out of reach. Time constraints, staffing challenges and a complex, ever-changing regulatory environment present daunting challenges for advisory service delivery. Firm leaders have to figure out a way to productize or use alternative resources to easily deliver forward-thinking solutions that meet client needs.

What is the Engineered Advisory Accelerator and how can it help accounting firms grow?

The Engineered Advisor Accelerator program addresses today’s challenges by offering a wide range of advisory services through a carefully vetted group of professionals who have the expertise to drive significant value to client relationships. The program offers a comprehensive suite of sophisticated advisory services that can foster revenue generation and significant tax savings. Participants in the accelerator receive continuing education from advisory partners through webinars, a custom learning management resource, a podcast and the annual HABU advisory conference.

By making connections with advisory resources, firms can create new revenue streams while meeting deeper client needs.

What advisory services do you see as the biggest opportunity for firms right now?

Strategies that allow clients to minimize tax liability – such as work opportunity tax credits, research and development tax credits, cost segregation studies and 1031 exchanges – are always in demand.

Identifying forward-thinking insight to help better equip clients for future profitability like AI integration, metaverse adaptation, dashboarding and strategic/succession planning can add the kind of value that clients simply can’t capture elsewhere.

What advice would you offer to someone entering the accounting profession today?

Professionals today need to think about how they can provide value above and beyond an hourly rate for compliance services. Adopting an advisory mindset allows clients to believe you are truly invested in their ability to achieve their goals.  A proactive, communicative approach also means you are likely to capture opportunities as they arise – and amplify client loyalty.


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