Why are firms just turning clients away instead of setting up a new firm owner with the lead, even if its for a fee?
Just doesn't make sense to me and sounds like a terrible management of resources as a profession.
Specifically, at what fund size/track record threshold do placement agents typically start engaging with a first-time fund sponsor?
And is a captive RIA strategy via CPA roll-ups a thesis they've seen before, or is it novel enough to need extra education in the pitch
FYI: I'm technically an RIA myself.
Its absolutely insane to me as a buyer of the pre-order ultimate edition that my purchase doesn't include anything physical at all. Not a shirt, trucker hat, GTA6/VC map, certificate of authenticity, or ever a Vice City postcard...absolutely nothing.
What a fucking inconsiderate move?
cant believe I used the wrong your. lol
*Your role
In the same way if you were fat and bald and not landing any dates, its more logical to slim down first to see what your options are rather than spending money on an invasive and expensive hair transplant surgery. Address what's immediately within your control before reaching out for external solutions.
And FYI: recruiters just use more job search engines/platforms than you and spend more time dealing with the inevitable flooding of dud applicants; there's no special recruiter magic. Beyond that...a recruiter is useless for solving for a quality problem.
If your role is remote, you will have a quantity problem instead of quality problem...which is the right kind of problem to have as a hiring manager.
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Take notes AICPA...its another for you guys to make money off of us...and we'll worth it in my opinion.
Take notes AICPA...this is another way to make money off of us.
Didn't you come to the state because its Republican policies produced more desirable living conditions than the state you came from?
What exactly are you trying to change about Nevada politically that doesn't work as well as it did relative to the state you came from?
She has 2 kids with a guy with a shady past and they were on the brink of homelessness as they were being evicted from their place in Idaho. Why? Guy was the sole breadwinner and had some superficial injury at his manufacturing job and very clearly was trying to milk his employer while kicking his feet up. He has a history of trying to take the easy way out with stuff like selling drugs and even went to jail for 2 years making my sister a single mother during the time.
The way she explained things to me was that, she was a voice of reason and the reason her financial circumstances were poor was because of his misguided decision-making and leadership. Anyway, he allowed me to step in (I'm a CPA and RIA) and put together a budget and financial plan for them to execute. I even gave her a part time job at my company to help mitigate financial woes until and while her partner returned to work, paid directly from my pocket to help her out.
1st red flag: We agreed that I would cosign for an apartment at $1k. Decent living space for 2 adults and 2 children hild that were literally living in a motel. Well, I get the leasing agreement and it turns out that she went with a 1500 option in an affiliate building without telling me then got angry with me when I inquired into this. I thought the leasing agent baited and switched us and I looked like a complete idiot accusing them of such on phone. I should have cut things off the moment she got angry with me for inquiring into this and didn't really have a good reason for switching units. Not cleanliness issues, saftey issues or anything of material concern but in a snappy tone, "this is what's best for my family".
2nd red flag - I gave her a part time fully remote job doing busy work for my CPA firm (that's still growing along side my own W2). The guy's job situation became less reliable this week (long story) and she told me that she needs something more than the "chump change", I'm offering her. Literal words..."chump change".
3rd and final red flag: 2 months into the new place and she has already mismanaged her finances and hasn't paid rent yet (its the 4th of June).
I've come to realize that I've been bamboozled by my own family. The shitty credit, the jumping from place to place and being on the brink of homelessness, it has been her fault as well because in my estimation she lacks good judgment and good character.
Its a scam. The time spent on cleanup-only clients could be spent on clients that you'll have a more permanent relationship with.
And getting that much work during a short period of time competes with workloads on subscription clients.
And a client that doesn't have their shit in order is usually not even a good client anyway.
And always put a time line on it. bonus points if its a job that leverages their skills.
Exception is medical bills, which can and should be paid directly to the hospital to prevent exceeding annual gifts exclusions that then reduce Life time estate exclusions. Additionally, if they have a problem with the money going straight to the medical institution, they're bullshitting you. (If you don't know what these tax "exclusions" mean...go ask your CPA).
Rather than instructing people to go through an additional year of school ...and debt for what? The Academic lobby and representation on the AICPA's board.
In fact, there shouldn't even be a College degree requirement. If you can pass the CPA exam that should be the extent of your CPA Academic program. That's it. The real debate should be around experience (which I think should be closer to 5 years than 1 year).
Go mentor a new CPA firm owner, or coach your successor. Stop hogging up the work and clients. Let it go already!
Its insane how I'm constantly hearing about these 70-something CPAs still serving clients as the principal client relationship manager AND deliverables producers!
Im doing an online JD program that will enable me to have the necessary flexibility to tend with full time work if necessary and give me the requirements to sit for the bar. The program is very cheap (less than 6k a year per year), so no student loans necessary.
My hopes are that for an employing trust and estate practice, my CPA and varying degrees of exposure to various trust returns will be enough for a T&E practice to take a chance on me as a paralegal despite not having direct law firm experience nor studying at an ABA-accredited law school.
And much to my surprise...many of these paralegal roles pay pretty comparably to my current pay, but I wouldn't mind taking a pay cut for the opportunity
Something that may be a credit to my candidacy is that most of our client principals are lawyer patriarchs/matriarchs often with adult children in the family business. So we end up doing the trust/estate accounting AND law firm accounting including stuff like IOLTA/trust/retainer accounting and case matters accounting.
Im doing an online JD program that will enable me to have the necessary flexibility to tend with full time work if necessary and give me the requirements to sit for the bar. The program is very cheap (less than 6k a year per year), so no student loans necessary.
My hopes are that for an employing trust and estate practice, my CPA and varying degrees of exposure to various trust returns will be enough for a T&E practice to take a chance on me as a paralegal despite not having direct law firm experience nor studying at an ABA-accredited law school.
And much to my surprise...many of these paralegal roles pay pretty comparably to my current pay, but I wouldn't mind taking a pay cut for the opportunity
edit: Something that may be a credit to my candidacy is that most of our client principals are lawyer patriarchs/matriarchs often with adult children in the family business. So we end up doing the trust/estate accounting AND law firm accounting including stuff like IOLTA/trust/retainer accounting and case matters accounting.
In this market experienced tax talent is king.
Firms are having a hard time finding fully remote tax seniors with $125k+ salaries.... with recruiting agencies. Your onsite role is sitting right beside those with moderately to meaningfully lower pay due to being a smaller market.
A small firm or small market firm's biggest talent acquisition opportunity is flexibility. It costs little to nothing to extend to tax talent and probably even costs less due to less office space needs. And people will tolerate a lower salary if they don't have to wake up an hour earlier to put on a suit or biz casual corporate uniform to waste away in traffic for an hour.
Its like these firm partners and executives are pathologically stubborn or something.
It seems like something easy to bootstrap. Low cap ex high margin professional services just like accounting, but not as common?