Advocating for Business Development as a CPA

Shelley Yates, Communications Senior Advisor
October 8, 2018

1st Global advisor Jody Padar, CEO and principal of New Vision CPA Group, recently sat down with Caleb Bullock of Somerset CPAs and Advisors to discuss the link between CPAs and financial planners and the importance of business development initiatives to both.

Bullock discussed the similarities between CPA partners and wealth management partners within his firm.

“We typically have a very similar client base,” he said. “We’re pursuing the same types of people. We have, a lot of times, the same philosophy, so when you can latch onto your clients’ other business partners, it just makes you a better servant to your client.”

As Bullock manages his firm’s business development initiatives, he also spoke of the important role every CPA plays in business development.

“Everyone in the firm is a business developer, whether you like it or not,” he remarked. “Find something that you love to do — maybe outside of the scope of your day-to-day job, and really engage with it. … Even if you’re the most introverted CPA, highly technical, you’re passionate about things. So get involved in a board, get involved in your community, write a blog.”

He also added that clients play an important role in business development as well.

He believes that every CPA “has a responsibility or obligation to be a good business developer with their existing clients. The best referral source we have is our existing clients. If you’re bringing in all the business in the world but you’re not taking care of your clients, then it doesn’t matter and the firm’s not going to grow.”

 

 

The Emergence of Fee-based Planning

Tips for delivering high-value service and advice in the digital world.