Developing an Award-Winning Advisory-Led Accounting Firm
Andrew Rhodes is the Managing Partner of Sobell Rhodes, a Chartered Accountant and a member of the Chartered Institute of Taxation. He is passionate about helping clients and other accounting firms improve their profits and the quality of their working lives.
His strategic and business advisory tools are used by accountants globally to provide structured business advice to their clients. He is passionate about people and is committed to the highest standards of technical and business skills competencies. His firm, Sobell Rhodes, has achieved the prestigious Gold Standard of Investor in People. Shownotes:
- It’s actually easy for an accounting firm to differentiate themselves if they know how to
- Some accounting firms are to complacent and need to change more, but they won’t
- Why MTD is a great opportunity for accountants to serve clients better
- Complacent accountants make way for the more strategic, advisory led accountant
- Being an advisory led firm proves you don’t just look historically but look to the future for accounting clients
- How a structured approach to accounting advisory works in a successful firm
- Compliance still has a place for accounting firms but has many more challenges on value and price than advisory
- The benefits of winning awards to an accounting firm, particularly with the marketing opportunities and inner firm confidence
- Many accounting firms struggle more to find good talent than good clients
- The secrets of winning accountancy awards and how they can help your accounting firm
- Shout out to the accounting legend Paul Dunn who inspired many accountants to run outstanding accountancy practices
- The power of Monday Morning Awesome Service Meetings for staff in a client centred accounting firm
- The best way accountants can attract the kind of clients they want is by referral
- There are three things an accounting firm needs in place to attract ‘A-Category Entrepreneurial Clients’
- How a focus on specialist industry niche allows accountants to give better service, win more referrals and get more advisory business
- How power circle work to generate new clients in particular accounting niches
- How the International Accountants Association generates referrals on a global scale for smaller accounting firms
- Referrals are not like good wine – they don’t mature and improve, so accountants must keep in touch with referral source sover time
- It’s powerful for accountants to give referrals as a great way of getting referrals back
- Value pricing for accountants differentiates them against competitors and serves clients better
- Shout out to accounting pricing guru Mark Wickersham (who appeared on this podcast here) on price anchoring
- Before accountants offer business advisory services, they should be doing business plans on themselves to walk the talk
- Remaining passionate and excited about what you do is what accountants need to be successful
- Feedback from accounting firm clients is essential, particularly with a tool like Net Promoter Score
- The value of peer groups and masterminding with other accounting leaders and influencers
- Shout out to Richard Walters, Steve Pipe, Mark Wickersham and Andy Bounds for their services to the accounting profession
- Accounting firms can get together to bring in trainers to share best practice and deliver CPD training
- Money and knowledge should be shared, else they are like manure – if you pile it all up, it begins to smell!
- Best advice to navigate today’s changing accounting world – try to be different and find the best people to learn from.
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Andrew is an extensive networker and has formed several business referral and mastermind groups, including INAA, which is the world’s 14th largest association of independent accountancy firms. His firm has won many of the UK’s major accounting and business awards, and he himself was voted UK Managing Partner of the Year. He is frequently asked to speak at ICAEW Practice Conferences, national and international accountants’ conferences, financial institutions and business forums on business improvement and leadership.
When not working, Andrew collects antique accountancy memorabilia, enjoys electric bike cycling, has 4 dogs, a wife, 4 children and 5 grandchildren. You can contact him below:
