The CPA Profession is Undergoing Major Changes
More Baby Boomers will be exiting. The upcoming group of professionals are showing less interest in ownership. There are concerns and differences of opinion on what a firm is worth. There are growing concerns that large segments of a firm’s revenue will shrink and face fee pressure as artificial intelligence and technology automate more compliance-based services.
Custom CPA Merger & Acquisition Searches
We provide solutions to help firms move forward on the path they wish to take. Most firms want to retain their legacy and develop a smooth internal transition. To accomplish this in today’s CPA environment requires investments in time and training to engage younger staff. In order to maintain an independent position, they need to have professionals who can bring in revenue, as well as provide the technical and administrative leadership.
Why Firms Engage Us
- Succession Planning. To construct and implement a successful internal transition process
- Local Growth. To find a firm to acquire or merge as a “tuck-in” into one their existing offices
- Geographic Expansion. To identify a firm in a new geography to expand their footprint
- Diversification. To locate a specialty industry or service firm
- External Exit Solutions. To identify a firm to merge upward or sell into
- Deal Consulting. They have an opportunity in place, but need help evaluating and closing it
Self-Assess Your Firm’s Position
You control your destiny. You may be the firm that looks like it needs to be eaten or be the one that is the acquirer, but you should be prepared no matter what path you feel is best. Be realistic about your position. If the number of future exiting partners and payment obligations are growing, do you have committed and trained staff to take over? Not just technically trained, but staff that can bring in work.
Are You Ready to Transition Internally? Do you have a succession plan? Is it actively being worked or sitting on a shelf? Have elements of your plan been altered; i.e. staff left, revenue fell, etc.
Do You Want to be the Acquirer? This is the time to start making that happen. Many good firms are at a crossroad with no apparent succession.
Will You Be Forced to Sell? You need time to prepare to exit and time to find a buyer/upward merger partner. In addition, you will need time to transition clients. It takes years to transition profitably.
Get Comprehensive Details on M&A and Succession
We created a complete website to address CPA firm mergers, acquisitions, succession, and selling strategies. Please visit www.CPAgrowth.com to learn more.