The Challenge of Transitioning to Forward-Looking Services
Many accountants find themselves working reactively, focusing primarily on compliance and past financial events. Paul explains that while new clients can be onboarded with a proactive approach from the start, transitioning existing clients is more complex. Often, long-term clients are used to the old model, so positioning yourself as a forward-looking advisor requires a strategic shift.
Key Strategy: Treat Existing Clients Like New Ones
Paul shares a tactic he used at his firm, Latham’s, where they told existing clients: "If you’d joined us recently, you’d receive a more comprehensive, proactive service. Let’s treat you like a new client and show you what we can offer." This approach invites clients to see the value in proactive planning without feeling pressured or sidelined.
Suggested Script for Transitioning Conversations
Start with transparency: “When I became an accountant, I didn’t plan to spend all my time looking backwards. But I’ve realized that to provide the best service, I need to look forward, focusing on personal planning, business strategy, advanced tax solutions, and more.”
By addressing the shift openly, clients can understand and appreciate the change in service approach.
Creating a Proactive Planning Presentation
Paul introduces a structured client presentation that demonstrates the value of proactive planning. This presentation covers:
- Changing Our Focus – Explaining the firm’s shift from reactive to proactive services.
- Value Proposition – Outlining how forward-looking planning benefits clients, offering guidance in personal and professional goals.
- The Proactive Planning Team – Presenting the client with a virtual family office, where specialists can address their unique needs in areas like tax planning, insurance, and business strategy.
- Ongoing Process and Support – Emphasizing regular meetings to sustain proactive engagement.
A Visual Approach to Demonstrate Value
Using visuals, like a proactive planning team structure, helps clients understand that they’re not just getting an accountant but a full support team. This reassures them of the quality and depth of service they’ll receive with this new approach.
Introducing the Virtual Family Office
A key aspect of moving forward with clients is offering them access to a Virtual Family Office (VFO). This model connects clients with top specialists across fields, ensuring comprehensive support for all aspects of their financial and business lives. The VFO:
- Maintains Control – Unlike traditional referrals, the VFO model keeps the accountant at the center of all client solutions.
- Ensures Quality – With a vetted team of experts, clients receive consistent, high-quality advice tailored to their unique situations.
By positioning the VFO as a “one-stop shop,” clients feel more secure, knowing they can rely on their accountant for a broad range of needs.
Handling Clients Who Prefer the Old Model
Not all clients will want proactive services. Paul advises firms to categorize these clients as lower-priority (“C” clients) and gradually phase them out over time as the firm attracts new, proactive clients. This self-selection allows firms to focus on building a client base that values and benefits from forward-looking services.
The Power of a Structured Presentation and Script
Paul emphasizes the importance of using a structured presentation and script to guide these conversations. A standard approach, often supported by a PowerPoint, helps accountants confidently convey their message without needing to improvise. This consistency also reassures clients that the firm is committed to the new service model.
“Dip Your Toe” Approach for Hesitant Clients
For clients who are unsure, Paul suggests a “dip your toe in the water” offer, like starting with a small planning session. This approach allows clients to experience the benefits of proactive planning before fully committing.
Conclusion: Becoming the Most Relevant Advisor
Transitioning from backward-looking to forward-looking services requires intentional changes in client communication, structure, and mindset. By treating clients like new ones, offering a virtual family office, and using a clear presentation, accountants can elevate their role from compliance-based service providers to trusted, proactive advisors. This shift not only benefits clients but also strengthens the firm’s position in a competitive landscape.
