Author Description

With accounting firms under pressure to merge, CPA expert shows an alternative to remain independent and accelerate growth. A new book, "SUPERCHARGE YOUR CPA FIRM," by Robert Fligel, CPA, President of RF Resources, shows accounting firm leaders how to thrive in these challenging times by tapping a largely unseen market for top talent. "CPA firms are being pitched and tossed in an atmosphere churned by a perfect storm," says Fligel, an expert in talent management and strategic practice growth and transitions. "Several forces have coalesced around the profession to create this perfect storm." The gathering forces are ominous: * Economic pressures, such as fee discounting, threatening small firms * Large firms trying to gobble up small and mid-sized firms * Aging baby boomer senior and managing partners with no successors in place * Unhappy younger accountants and CPAs considering abandoning ship * Aging rainmakers in firms of all sizes * Lack of practice development planning and technology/infrastructure pressures * Increasing demand for specialized products and services There are three ways to try to stay on course in this perfect storm, says Fligel: sell, merge or seek a fresh solution. "CPA practices that have remained independent have done so because they don't want to be part of a larger firm. They like their independence," says Fligel. Selling or merging is not necessarily the most attractive option for a lot of firms at this time. Some firms are not bringing the same valuation they did a few years ago, and selling usually requires staying on for several years under someone else's leadership for the transition period. The ideal situation for many firms and accounting firm leaders/rainmakers may be to find a way to solve their problems without merger or acquisition. An alternative solution to the challenges facing these firms today would be to hire the younger partner or