Ascendex Consulting

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Middle Market CPA Firm

Firm has been in business for many decades and has a strong reputation for tax, audit, and related services. Client engaged Ascendex to assess client’s business, client portfolio, market opportunity, and other factors to determine feasibility of client expanding its advisory services practice.

Opportunity

Client has strong track record with traditional CPA services including audit and tax but has struggled to provide advisory services to the marketplace. This has resulted in an increasing competitive disadvantage versus peer firms and is a limiting factor in client relationships due to the lack of advisory services to meet client needs.
  • Heavy concentration of traditional CPA services (audit, tax, accounting)
  • Limited advisory services
  • Reluctance to invest in “unsure” bets
  • Revolving door of advisory services practitioners
  • Competitive disadvantage vs. peer firms due to lack of advisory services
  • At risk in client relationships due to threat of competitor CPA firm’s entering client relationship via advisory services

    • Solution

    Ascendex was engaged to work in conjunction with client to assess the viability of an expanded advisory services offering.
  • Assesses client business model and strategy
  • Reviewed client portfolio and go to market approach
  • Benchmarked/compared/contrast of high interest advisory services
  • Defined segment of client portfolio most appropriate for advisory services
  • Conducted market research and competitive analysis for high interest services
  • Recommended short run/mid range/long run plan for expansion of advisory services.
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