What does it take for a firm, even a specialist niche firm, to grow substantially, year-on-year, for over a decade?
In this podcast discussion with Rob Whittall of Dyke Yaxley, USA, Rob shares the insights, ideas and strategies that have helped him grow his firm and build two teams, one in the US and one in the UK. He will also share how his specialist firm helps UK and US businesses, as well as individuals, navigate the complexities of tax across the two countries.
Join me at humanisethenumbers.online and hear how Rob has grown a really elegant, professional firm, a firm of which he is rightly very proud.
The Solution:
There is this big debate, advisory versus compliance, compliance versus advisory? To me they are integrated, but where does the lines from advisory change to compliance?
If I have an individual client who calls me and says:
‘I'm selling my house in the UK and I live in the US, what are my tax ramifications of that?’
Obviously, I'll go through and do a calculation and as long as they come to me beforehand, we can advise them what to do.
But that calculation is still as important for when I come to do the tax return, so it all becomes integrated and I think by default, if you're talking to your clients, which we do, isn't every time you talk to your client advisory?
And in reality, I personally wonder if there's too much distinction made between compliance and advisory?
I think over the last two years people have ended up talking to their clients a lot more because they've had lots of issues and I would imagine that without realising it, every accounting firm is now an advisory firm.
Every time you talk to somebody or share a piece of information or ask a question, aren't you in one form or another acting in an advisory capacity, either asking a question that is thought provoking or gets them thinking about something they had not thought of?
I always feel that if I come off a call with a client, or if I'm on a call and somebody says ‘Oh I hadn't thought of that’, that’s the best satisfaction I can have on a call because I feel I've actually asked a question or said something that they hadn't thought of before, so it's been valuable.
SHOW NOTES
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Listen to Rob and Paul talk about the importance of the client experience. Rob talks about the team wanting to constantly improve and providing a better experience for their clients.
Rob understands that loyal clients come from making all encounters with their business a pleasurable one and as simple, streamlined and effortless as possible.
The experience your clients have with your firm and your products and services is in your hands. You can decide what and how every aspect of your firm impacts on your client.
Don’t leave this experience to chance, don’t assume it’s going ‘OK’. Instead plan it out and deliver on it well.
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