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Article“Lateral Partner Opportunities in the NY CPA Market” – Firms Use Lateral Hiring as a Business Development Strategy

In a contribution to The CPA Journal, accounting industry expert Robert Fligel reveals why more and more CPA firms are turning to lateral hiring as a strategy to drive new business.

Fligel writes that there are five primary reasons why lateral hiring is accelerating in the New York market:

  1. Organic growth has been slow and firms believe this trend will continue for several more years.
  2. The market demands increasing specialization and niche businesses.
  3. Many firms are facing a leadership gap. They are unprepared for succession in key profit centers, such as the core tax and audit businesses, SEC work, international services, and trusts and estates.
  4. Some firms are in dire need of partners with business-development skills.
  5. Due to years of decline in the number of college graduates with accounting degrees, firms in particular—and the profession as a whole—are facing a much smaller next generation of potential new leaders.

He goes on to offer guidance to both firms considering lateral hiring and accounting professionals considering a lateral move.  RF Resources provides services to both groups.

View a PDF of the full article “Lateral Partner Opportunities in the NY CPA Market".

Robert Fligel

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