Pulse Of The Practice podcast

#Business #Accounting #Advisoryservices #Cpafirm #Futureofaccounting #Thomson Reuters #Entrepreneur #Video #CPA

35:12

Sidhu Moose Wala explodes onto the Canadian music scene. His sound is a fusion of two worlds - hip-hop with the poetic language of rural Punjab, where he is from. After years of struggle he’s making it. But with the spotlight comes a dark side. As his fame grows, so do the threats. "We will kill you." Presented by broadcaster and DJ Bobby Friction and investigative journalist Ishleen Kaur. Season 8 of World of Secrets, The Killing Call, is a BBC Eye investigation for the BBC World Service. Archive audio credits: Lovepreet Waraich, Malwa TV, BritAsia TV, MPHONE Canteeni Mandeer, GK Digital, Thakur Media, Capital Extra, Famous Punjab TV, ModernSings, Dheeth.jeha, RealRohitBlogs, Mirror Now, India Today. Here’s a link to the BBC Eye two-part documentary films, which we recommend you watch after listening to this podcast: https://bit.ly/thekillingcall If you are in the UK, you can watch on iPlayer: https://www.bbc.co.uk/programmes/m002f18y…

Pulse of the Practice

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We all love free… But tax and accounting firms love it so much that they give their brain away for free! Everything is changing in our profession but the future is bright. Tune in to turn pain points into opportunities. Join Paul Miller and Thomson Reuters Advisory Consultants as they have real and relevant conversations to provide you with inspirational and actionable ideas to move your firm forward. Expect to hear from your peers as well as they share their experiences and discuss relevant topics you're all familiar with; leadership, client relationships, firm culture, staffing, technology, and much more! Learn more about Practice Forward at http://tax.tr.com/practice-forward

127 episodes

Pulse of the Practice

updated 3 days ago

Series home•Feed

127 episodes

#Business #Accounting #Advisoryservices #Cpafirm #Futureofaccounting #Thomson Reuters #Entrepreneur #Video #CPA

All episodes

Pulse of the Practice

1
Beyond the Numbers: Elevating CPA Practices with Wealth Management and Advisory Services 26:38

3 days ago26:38

26:38

Summary In this episode, Mo Arbas and Paul Miller engage with Trisha Floyd, a CPA firm owner, discussing her journey in transitioning from traditional accounting to advisory services. Trisha shares insights on the importance of client education, building trust, and the integration of wealth management into CPA practices. The conversation highlights the evolving landscape of the service industry and the opportunities for CPAs to provide higher levels of service and support to their clients. Takeaways Trisha Floyd emphasizes the importance of client education in advisory services. Building trust is crucial for CPAs to effectively offer wealth management. The integration of wealth management into CPA practices can enhance client relationships. Understanding client needs goes beyond tax returns; it's about holistic financial planning. Trisha's firm aims to provide customized plans for clients of all ages. The service industry is evolving, with a growing demand for comprehensive financial services. CPAs can leverage their expertise to offer higher levels of service and support. Effective communication and asking the right questions can uncover additional client needs. The future of advisory services lies in the ability to adapt and provide tailored solutions. Trisha is excited about the potential of marrying CPA services with wealth management. Keywords: CPA, advisory services, wealth management, client education, financial planning, trust, client relationships, service industry, tax planning, financial advisory…

Pulse of the Practice

1
The Evolution of Client Relationships in Advisory 26:11

20 days ago26:11

26:11

Summary In this conversation, Mo Arbas and Paul Miller discuss the evolving landscape of advisory services in the accounting and tax industry. They reflect on their recent experiences at a conference, the importance of understanding what advisory truly means, and the challenges firms face in delivering value to clients. The discussion highlights the need for structured advisory services, the role of technology, and the importance of client relationships. They also touch on the future of advisory services and the necessity for firms to adapt to changing client expectations. Takeaways Advisory services are becoming increasingly important in the accounting industry. There is a need for clarity in what advisory services entail. Firms must evolve their client relationships to provide more value. Technology plays a crucial role in enhancing advisory services. Clients are looking for proactive solutions rather than reactive ones. Understanding client needs is essential for delivering effective advisory services. The advisory landscape is broad and requires firms to define their niche. Private equity is recognizing the potential in the advisory space. Firms should focus on structured processes for delivering advisory services. The future of advisory will involve more collaboration and integration of services. Keywords: advisory services, client relationships, tax advisory, accounting, technology, client expectations, business transformation, private equity, consulting, financial planning…

Pulse of the Practice

1
The Intersection of Wealth Management and Tax Planning 33:44

5 weeks ago33:44

33:44

Summary In this episode, Mo Arbas and Paul Miller engage with Michael Foguth, a prominent figure in the financial services industry. They discuss Michael's journey into financial services, the importance of tax planning, current trends in wealth management, and the role of AI in enhancing client relationships. The conversation emphasizes the need for collaboration between financial advisors and tax professionals to provide comprehensive services to clients. Michael shares insights on how to educate clients about financial strategies and the future of advisory services in a rapidly changing landscape. Takeaways Michael Foguth's journey into financial services was inspired by personal experiences with financial literacy. The importance of tax planning is often overlooked in favor of tax preparation. AI will enhance efficiency in financial services but will not replace the human element. Collaboration between financial advisors and tax professionals is crucial for client success. Clients need to understand the value of financial strategies beyond just costs. Financial literacy should be a priority in education to empower individuals. The future of financial advisory services lies in integrating various financial services for clients. Understanding client emotions is key to effective financial advising. The financial services industry is evolving, and firms must adapt to stay relevant. Planning for taxes should be a year-round process, not just at tax time. Keywords financial services, wealth management, tax planning, Michael Foguth, AI in finance, collaboration, financial literacy, retirement planning, advisory services, family office…

Pulse of the Practice

1
The Challenge of Balancing Technology and Client Needs 27:52

6 weeks ago27:52

27:52

Summary In this conversation, Mo Arbas and Paul Miller discuss the complexities of client management in the advisory sector, emphasizing the importance of proactive engagement and understanding the annual client cycle. They explore the challenges of balancing technology with client needs, the significance of routine communication, and the necessity of shifting mindsets regarding tax preparation. The discussion highlights strategies for building successful client relationships and managing expectations throughout the year. Takeaways Technology can be a double-edged sword in client management. Learning to say no is crucial for prioritizing tasks. Client relationships are ongoing and require continuous engagement. Tax filing should be a routine part of a larger process. Proactive communication can prevent last-minute rushes. Understanding the annual client cycle is essential for effective management. Routine check-ins can alleviate end-of-year stress. Clients often view tax preparation as just another step in the process. Effective client management requires clear scope and engagement definitions. Building a knowledge base can enhance client communication and service. Keywords: technology, client management, annual cycle, proactive engagement, communication, tax preparation, client relationships, advisory services, workflow, business strategy…

Pulse of the Practice

1
Evolving Client Engagements & Meetings 25:40

9 weeks ago25:40

25:40

In this conversation, Mo and Paul discuss the challenges of navigating tax season, the evolving nature of client engagements, and the generational shifts in client expectations. They explore the role of meetings in client relationships, emphasizing the need for effective communication and understanding client dynamics. The discussion highlights the importance of adapting to new client behaviors and the necessity of balancing traditional practices with modern expectations. Navigating tax season can be challenging but rewarding. Younger clients often prefer electronic communication over in-person meetings. Generational shifts are changing client expectations in the tax industry. Meetings should focus on knowledge transfer rather than routine tasks. Clients today are more dismissive of their financial responsibilities. Effective communication is key to understanding client needs. Legacy clients may require different engagement strategies than new clients. The role of technology in client interactions is increasingly important. Firms must adapt to changing client dynamics to remain competitive. Team collaboration is essential in managing client relationships. Keywords: tax season, client engagement, generational shifts, meetings, client dynamics, tax returns, electronic communication, legacy clients, firm culture, client expectations…

Pulse of the Practice

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The Future of Advisory Services: Embracing AI 25:30

11 weeks ago25:30

25:30

In this episode, Mo and Paul discuss the evolving landscape of advisory services in the context of AI and technology. They explore how AI tools like ChatGPT are being integrated into client interactions, the importance of maintaining a human element in advisory roles, and the future implications for professionals in the industry. The conversation highlights the need for advisors to adapt to changing client expectations and the potential for AI to enhance, rather than replace, the advisory relationship. AI is becoming increasingly efficient in client interactions. Advisors must focus on implementation, not just information. The human element in advisory services remains crucial. Clients are using AI for financial advice more frequently. Advisory roles will evolve with technology advancements. AI can serve as a valuable tool for advisors. Understanding client needs is essential in a tech-driven world. The pace of change in the industry is accelerating. Advisors should embrace AI to enhance their services. Starting to use AI tools can lead to significant efficiencies.…

Pulse of the Practice

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Why Should I Reset a Relationship? 31:07

13 weeks ago31:07

31:07

Paul and Mo discuss how important it is to reset a client relationship and provide tips on how to do that on a regular basis.

Pulse of the Practice

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2025 Kickoff! 22:08

15 weeks ago22:08

22:08

Paul and Mo are back to check on the pulse of the practice!

Pulse of the Practice

1
A Year in Review 26:01

25 weeks ago26:01

26:01

It's bittersweet moment as Paul and Mo reflect on key moments this year and what they're looking forward to in 2025.

Pulse of the Practice

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Are Your Ready to Advise? 12:22

27 weeks ago12:22

12:22

Paul and Mo discuss the new AI-powered tech with Ready to Advise during Thomson Reuters SYNERGY.

Pulse of the Practice

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What does the number 200 mean? 10:12

28 weeks ago10:12

10:12

Mo surprises Paul with a special Pulse of the Practice Anniversary announcement.

Pulse of the Practice

1
SafeSend 23:31

36 weeks ago23:31

23:31

Paul and Mo are joined by Adrian Johnson, Chief Product Officer with SafeSend. They discuss how the use of technology has helped many firms address challenges within their workflow, both on the front-end and on the back-end, and how this is an ongoing evolution and growth.

Pulse of the Practice

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BDO Alliance USA 26:26

37 weeks ago26:26

26:26

Paul and Mo are joined by Michael Horwitz, Executive Director of BDO Alliance USA. They discuss recent trends in the profession, challenges, and opportunities.

Pulse of the Practice

1
Evaluating Relationships 26:02

39 weeks ago26:02

26:02

Paul and Mo have a casual conversation about tax deadline, challenging relationships, evaluating and grading those relationships, and how to communicate scope changes to clients.

Pulse of the Practice

1
Beyond the Tax Return 26:02

40 weeks ago26:02