august2021 - 33

FEATURE
How to Help
Your Clients
Sleep Better
at Night
By Jason Stine and Jim Buffington
DO YOUR CLIENTS sleep better at night because of your
partnership? If so, that is thanks to the fact that you are
providing advisory services.
The accounting industry is moving
away from solely giving clients their
tax returns, then stepping away until
next year's returns are due. Taxpayers
want more from their tax pros. In a
recent survey Intuit conducted, 79%
of taxpayers are willing to pay more
for a tax professional's service if it will
result in improved financial outcomes.
Offering advisory services helps set
your clients up for success long-term
and offers a partnership that allows
them to go to bed feeling better about
their finances, and can lead to more
revenue for your firm. There is no
time like the present to start this new
partnership in advisory services and
below are several questions to keep
in mind while you're getting started.
FOCUS ON THE GROWTH
POTENTIAL OF YOUR
CLIENTS
It's time to stop measuring success by
how many tax returns you have completed,
and start measuring against
the growth your clients have had since
working with you. Advisory services
is more about helping solve financial
problems that keep clients up at night,
rather than checking the amount of
money in their bank accounts. The
introduction into advisory services
with each client is essential to understanding
their concerns, as well as
showcasing your expertise. Sit down
with your clients and ask them: What
keeps you up at night? What are your
biggest financial stressors? What
contributes most to these stressors?
Investigating their concerns further
will allow that relationship to grow far
beyond just tax returns. Your clients
will gain more trust and come to you
for advice more regularly.
After you've started to work on a
solution with your client, to provide
the best advisory services and help
them succeed you also need to ask
yourself: Is the new meeting cadence
mutually beneficial? Do they feel like
they can ask more questions and have
them answered? Are your clients getting
more out of advisory services to
help them succeed in the long run?
By offering advisory services and
exploring these key questions, you
are letting your clients know you are
there to offer expert recommendations,
help them overcome financial
concerns, and grow and succeed in
their aspirations..
CREATE LONG TERM
GOALS
With advisory services, you and your
clients have more time to focus on
setting long-term goals rather than
focusing on the next tax return. This
helps you stay in-tune with your clients
wants and needs, and allows you
to get a better understanding of what
they want or need out of this partnership.
Do they want to franchise their
business? Are they focused on paying
for their kids' college education without
taking out loans? Do they want to
retire with a summer house? Getting
a better understanding of what they
are working toward will allow you to
offer more tailored recommendations,
and meeting regularly will help you
keep them on track. Advising on long
term goals can help clients achieve all
of their aspirations, and more.
CHECK YOUR PROGRESS
It's important to continue to check
your progress throughout the year,
as you continue to work with clients
At least once or twice a year, explore
whether your clients have made good
progress, and how your advisory
services have contributed. Did they
accomplish what they wanted to?
Have they invested based on your
recommendations and succeeded in
it? Have they grown throughout your
partnership with them? Working
through these answers will not only
help your clients feel successful, but
it will also foster their trust in your
services.
KEEPS THEM PREPARED
FOR ANYTHING
With the constant ability to ask for
advice and have goal setting meetings,
clients will be better equipped
to handle anything thrown at them.
A pandemic? Financial crisis? Unforeseen
tragedies? With the plan you
put in place to help them succeed,
they are as prepared as they could
be. Start having conversations with
your clients about advisory services
and the benefits of keeping close tabs
on their ongoing financials and goals.
By asking what they would do in each
situation, and planning to improve
those baseline outcomes, you can
help your clients be ready before the
crisis strikes.
Your clients will have a better
night's sleep when they know you are
as invested in their financial health
and success as they are. By offering
advisory services, you will build better
relationships with your clients and
be able to relish in their success as
well. ■
Jason Stine is tax and
accounting education
leader at Intuit. Jim
Buffington is advisory
services leader for Intuit
Accountants.
AUGUST 2021 ■ www.CPAPracticeAdvisor.com
33
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august2021

Table of Contents for the Digital Edition of august2021

From the Editor: Work From Home, or Go Home From Work?
The Importance of Internal Controls
Is It More Efficient to Work From Home?
How to Launch People Advisory In Your Practice
From the Trenches: Client Experience for Today: Audit & Assurance Tools
The Leadership Advisor: A Guide to Better Client Communication
The ProAdvisor Spotlight: New QuickBooks Card Reader Speeds Up Mobile and Contactless Payments
2021 Innovation Awards - Highlighting the Top Technologies for Accounting Firms
The Labor Law Advisor: Employee Relations in Challenging Times
The Millennial Advisor: Back to the Basics
The Staffing & HR Advisor: Diversity, Equity & Inclusion in CPA Practices: Is Everyone Accounted For?
Marketing Your Firm: Using Traditional Marketing to Gain Leads
Apps We Love: New Technology
5 Ways for CPAs to Become Trusted Financial Advisors
AICPA News: A round up of recent association news and events.
The Digital Nomad Client
Lease Changes Add Complexity to Accounting & 2021 Audit Season
How to Help Your Clients Sleep Better at Night
Bridging the Gap: Must-Have Tools and Resources for Work-From-Home
august2021 - 1
august2021 - 2
august2021 - 3
august2021 - From the Editor: Work From Home, or Go Home From Work?
august2021 - The Importance of Internal Controls
august2021 - Is It More Efficient to Work From Home?
august2021 - 7
august2021 - How to Launch People Advisory In Your Practice
august2021 - 9
august2021 - From the Trenches: Client Experience for Today: Audit & Assurance Tools
august2021 - 11
august2021 - The Leadership Advisor: A Guide to Better Client Communication
august2021 - The ProAdvisor Spotlight: New QuickBooks Card Reader Speeds Up Mobile and Contactless Payments
august2021 - 2021 Innovation Awards - Highlighting the Top Technologies for Accounting Firms
august2021 - 15
august2021 - 16
august2021 - 17
august2021 - 18
august2021 - 19
august2021 - 20
august2021 - 21
august2021 - The Labor Law Advisor: Employee Relations in Challenging Times
august2021 - The Millennial Advisor: Back to the Basics
august2021 - The Staffing & HR Advisor: Diversity, Equity & Inclusion in CPA Practices: Is Everyone Accounted For?
august2021 - Marketing Your Firm: Using Traditional Marketing to Gain Leads
august2021 - Apps We Love: New Technology
august2021 - 5 Ways for CPAs to Become Trusted Financial Advisors
august2021 - AICPA News: A round up of recent association news and events.
august2021 - 29
august2021 - The Digital Nomad Client
august2021 - 31
august2021 - Lease Changes Add Complexity to Accounting & 2021 Audit Season
august2021 - How to Help Your Clients Sleep Better at Night
august2021 - Bridging the Gap: Must-Have Tools and Resources for Work-From-Home
august2021 - 35
august2021 - 36
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