The Positive Trend for CPA Firms: Strategic Financial Advisory Services


As a financial advisor, you have been through the wringer in 2020. You have witnessed the ups and downs of the financial industry, the effects of the pandemic on your clients’ businesses, and the adjustments to remote working. But among these challenges, there is a silver lining: the positive trend of CPA firms offering strategic financial advisory services.

The traditional accounting and compliance services have given way to a more comprehensive and valuable approach to financial management. Here are the top reasons why strategic financial advisory services are the good news you are looking for:

Revenue Opportunity for your Firm

According to a survey by, clients are willing to pay for someone to take care of the tasks that give them headaches each month. As a financial advisor, you can provide these services and meet your clients’ needs. Value billing, or value pricing, is an agreement between your firm and the client to pay for a package of services for a fixed monthly price. This pricing model benefits your firm’s bottom line by eliminating the feast or famine scenario that often occurs with hourly billing. You can better forecast your revenues, create budgets, and provide a stable workload for your firm.

Automation and Technology

One of the essential pieces of the puzzle to becoming a firm offering strategic financial advisory services is automation and technology. With remote work becoming the norm in the financial industry, your firm needs to consider using cloud-based systems. Cloud-based services offer faster and more reliable transactions, completing tasks in less time, and automating labor-intensive activities like audits and tax preparation. This transition to automation and technology provides significant benefits to your clients, your firm, and yourself.

Final Thoughts

As financial advisors, it’s important to recognize emerging trends in the industry and take advantage of new opportunities to grow your business. By moving towards offering strategic advisory services, implementing value billing, and utilizing automation and technology, you can set your firm up for success. And with Reach Reporting, you have the tools at your fingertips to make it happen. Our financial reporting, interactive dashboards, budgeting, and forecasting features will help you stay ahead of the curve and deliver top-notch services to your clients. Follow us on social media to stay up to date with the latest trends and changes in the industry.

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