• Mark Koziel and Richard Muscio Find Common Ground

    accountant-debateMark Koziel and I (Richard Muscio) have had an ongoing series of opinion pieces stemming from my reaction to the CPA Horizons 2025 report. My initial article is here.

    I’m happy to report that Mark and I had a great conversation on Thursday, wherein we reached 3 interesting conclusions:

    First, while the CPA profession can no longer be defined by traditional services such as Income tax preparation and financial statement preparation, most consumers don’t know this because 90 % + of the CPA profession is very challenged by marketing.

    Second, the CPA profession will probably lose income tax preparation as a core service within the next 10 years, due to reasons like standardization of reporting forms and Optical Character Recognition Technology, but 90% + of the profession is behind the curve on adapting to this fact.

    Third, while technology is critical for efficiency and effectiveness purposes, it probably will never replace good old-fashioned face-to-face interaction with clients and referral sources, as “connection and collaboration” requires trust, and trust can only be built by spending time together.

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  • Moving Beyond Networking to Connecting, Collaboration and Transcendence

    The concept of “command and control” is dead. It has been replaced by “connect and collaborate.” Your best currency in business is your relationships. Your knowledge is a distant second. Listen, respond, and express gratitude. Think of it as a loop; initiate communication; make connections. Make sure to close the loop and serve as the ...
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  • Networking, Connecting and Transcending Tips

    A Professional’s Guide to Collaboration (and how we use it in the Family Office World) The marketplace is driven by the consumer. The days are gone when the client goes to a professional for his vast technical expertise. Therefore, effective marketing is focused on the consumer, not the service provider. What are major preconceived stereotypes about your ...
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  • 9 Attributes of a Great Family Office Concierge

    Vast knowledge (broad not technical) Vast network of resources (not insular) Able to translate “technical speak” Likes and promotes (orderly) change Focuses on governance (success of which is reflected in family behavior) Ask questions and listens (versus answers questions and talks) Functions as communications hub for all complimentary resource providers Facilitates objective clearance and oversight of all recommendations collaboratively and openly (but ...
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  • Family Governace and What High-Net Worth Families Really Want From Their Advisors

    There are three themes that consistently challenge high-net-worth families and the people that advise them. The challenges arise from the evolution of the family’s wealth and the governance of that wealth such as growth, liquidity events, succession, inheritance, in trust, legacy, etc. Advisors must evolve with the family through these wealth stages, or they are ...
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