Friday, November 15, 2013

Accounting Firm Family Office Practices Are Multiplying

Like most businesses, accounting firms are under considerable financial pressures. Generally speaking, accounting firms face a hypercompetitive environment coupled with increasing client demands. And technology is cutting both ways, making accountants more effective and efficient and, in some situations, displacing them.
In spite of these challenges, there are niches where accounting firms are generally doing extraordinarily well – growing revenues and enjoying margins that significantly exceed that seen in other practice areas. Moreover, many of these niche practice areas are likely to be even more lucrative for accounting firms going forward. One example of such a practice area – one with enormous growth potential – is the family office practice.
To read the full article, click here.
Source: Russ Alan Price (

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