Episode 39

Valuable Lessons Learned from 40 Years in Accounting

Bill Rucci

Bill Rucci is chairman of Russell Bedford International, a leading global network of independent accounting firms, and is a co-director of Russell Bedford’s North American Tax Group. He is also Managing Partner of the accounting or CPA firm RBF in the USA, which he founded in 1985 at the age of 26.

He is the author of several business article appearing in industry publication, and presents seminars globally on tax planning, business planning and succession planning. He has appeared on national television as a regular guest on CNN’s Tax Break.

Apologies for the audio on this interview – not the best quality although I am informed that the USA now has internet…

Shownotes:

  • What’s the major USP of an accounting firm that’s growing?
  • The benefits of belonging to a large accountancy network with global reach
  • How technology can be used to develop an exciting win-win situation for the accountant and their client
  • Why there is a gradual devaluing of compliance work in the accounting profession
  • The biggest challenge for accountants when it comes to implementing advisory services
  • Recruiting in accounting firms – it financially hurts a practice if the right people can’t be recruited to look after the clients
  • How accountants can break free from the traditional, conservative methods and be open-minded about additional services
  • Clients are already asking for the additional services from their accountant – here’s why you should deliver on this
  • Why isn’t the accounting profession ‘sexy’ enough?
  • Tips to help accounting firms work with millennials
  • Insights on good succession planning for accounting firms – financial or strategic?
  • Technical competence isn’t enough to be a high-flying accounting – here’s what else you need
  • Significant growth can be achieved by personality led accounting firms, but there are some caveats
  • The 4 accounting pillars of distance, structure, rules and principles always need to be respected
  • The best accounting firms mix smaller firm benefits (lots of facetime with clients) with larger firm ones (readily accessible expertise) to properly serve their clients
  • The old fashioned values of working hard, paying attention and never quitting still bring success
  • The worst advice currently being dispensed in the accounting world.

Chris received his B.S. in Accountancy and M.S. in Taxation degrees from Bentley University in Waltham,

MA. He is a member of the American Institute of Certified Public Accountants and Massachusetts Society

of Certified Public Accountants. Find out more at www.rbfpc.com or to contact Bill directly:

Bill on LinkedIn

(1) 781 321 6065

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nick stobbs on the BD Academy Accounting Influencers podcast with Rob BrownThis episode’s shownotes were prepared by accounting tax specialist Nick Stobbs

LinkedIn: Nick Stobbs

Twitter: @NickStobbsTax

About the Podcast

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Accounting Voices Podcast
Accounting Voices helps people in the accounting world stay relevant visible and vocal. Host Rob Brown interprets trends reshaping the profession and gives listeners insight to build authority influence and a stronger voice in firms and markets.

About your host

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Rob Brown

Rob Brown is the founder and host of the Accounting Voices Podcast, the flagship solo show of the Accounting Voices Network. Each episode offers sharp analysis and commentary on the trends, ideas and people shaping the global accounting profession.

Through this Accounting Voices Podcast, Rob helps accounting firm leaders, decision makers and professionals stay relevant and make sense of disruption in areas like AI, automation, M&A, private equity and soft skills beyond the tech. His perspective blends clarity, insight and curiosity, making complex issues relevant and practical for professionals and decision makers across accounting and finance.

He also leads two monthly panel shows, Accounting M&A and Accounting AI, which bring together senior voices to explore consolidation, strategy and the impact of technology on firms and people.

Rob is the author of the bestselling book Build Your Reputation (Wiley) and a TEDx speaker whose talk The Personal Brand of You has more than 400,000 views. Over his career he has hosted and moderated more than 1,000 conversations with accounting and fintech leaders worldwide.

Based in Nottingham UK, Rob is a stroke survivor living with epilepsy, a black belt in kickboxing, a decent chess player and an average player of four musical instruments.