You Can Lead ‘Em to Water…..

Despite a well-documented succession crisis within public accounting firms, not many want to discuss succession plans or lack thereof for oh, about the next eight weeks or so.

And I can’t blame them. Who wants to be told that there’s no one to assume the reins of your firm – either internally or externally – while you’re knee deep in a pile of 1040s?

Our calls to clients are usually treated with the same deference as solicitations from credit card companies promising reduced rates, or a slick pitman offering replacement windows.

So, for the next two months or so, we concentrate on firming up our CPE speaking and presentation schedules for the coming year or else arrange meetings with very large firms whose managing partners and CEOs are not putting in those requisite 80-hour weeks.

Which brings me to today’s topic.

Despite consulting to the profession for a living, as a rule we never charge any of the state societies a speaking fee. We only ask to be reimbursed for transportation costs – particularly from those who are out of state.

Last week, I sent out a list of potential speaking topics – primarily focusing on succession - to several CPE directors in the Northeast. To date, I’ve only heard back from two – one said they would think about it while the other tendered a definite no.

Why?

Apparently this particular society had previously organized a succession conference but the attendance more resembled a haunted house than dozens of CPA firms with an aging partner base and no solution in sight.

Ditto for a section of their website that paired buyer and seller firms, much like match.com.

That was greeted with very little to no interest as well according to the representative. She thanked me for the offer but politely declined.

I thought long and hard about the lack of interest in the subject.

Perhaps their state was the only one out of 50 whose membership didn’t face the same problems as the rest of the country. I found no logical reason for the disinterest other than it’s always easier to ignore a growing problem than face it directly.

Invariably, this is the demographic that frantically calls on or about May 1 and declares they have worked their last tax season and need an exit strategy. I explain to each of them that they should have contacted me roughly 3-5 years earlier.

Or, at the very least, they should have taken 50-100 minutes out of their day to attend some type of succession related CPE course.

Sadly, they’re going to learn that life after May 1 will be no less stressful than before.