According to Accounting Today, about 20% of accounting firm acquisitions involve non-accounting firms and firms of all sizes need to pursue similar mergers to remain independent.
In this episode, Chuck Summers, Practice Growth Executive at MCM CPAs & Advisors, interviews Matthew Saltzman, Director of Strategic Advisory Services at Strothman and Company, as they discuss the opportunities and challenges of non-accounting firm acquisitions joining established accounting firms to provide specialized advisory services.
Matt discusses why he chose to join his M&A advisory firm with Strothman and how they structured the relationship to maximize the benefit to both the acquiring firm and the firm being acquired. For some there can be a real Culture Shock when it comes to billing philosophy, branding and marketing strategies, existing relationships with Centers of Influence at other firms, etc.
The Association for Accounting Marketing has a monthly podcast, AAMplify!, that covers a wide range of topics related to marketing and sales in a CPA firm. You can subscribe to the series via iTunes, Stitcher or YouTube.