Pulse of the Practice

Thomson Reuters
  • 4.8 (26)
  • ENTREPRENEURSHIP
  • UPDATED WEEKLY
Pulse of the Practice

We all love free… But tax and accounting firms love it so much that they give their brain away for free! Everything is changing in our profession but the future is bright. Tune in to turn pain points into opportunities. Join Paul Miller and Thomson Reuters Advisory Consultants as they have real and relevant conversations to provide you with inspirational and actionable ideas to move your firm forward. Expect to hear from your peers as well as they share their experiences and discuss relevant topics you're all familiar with; leadership, client relationships, firm culture, staffing, technology, and much more! Learn more about Practice Forward at http://tax.tr.com/practice-forward

  1. 3D AGO

    The Intersection of Wealth Management and Tax Planning

    Summary In this episode, Mo Arbas and Paul Miller engage with Michael Foguth, a prominent figure in the financial services industry. They discuss Michael's journey into financial services, the importance of tax planning, current trends in wealth management, and the role of AI in enhancing client relationships. The conversation emphasizes the need for collaboration between financial advisors and tax professionals to provide comprehensive services to clients. Michael shares insights on how to educate clients about financial strategies and the future of advisory services in a rapidly changing landscape. Takeaways Michael Foguth's journey into financial services was inspired by personal experiences with financial literacy.The importance of tax planning is often overlooked in favor of tax preparation.AI will enhance efficiency in financial services but will not replace the human element.Collaboration between financial advisors and tax professionals is crucial for client success.Clients need to understand the value of financial strategies beyond just costs.Financial literacy should be a priority in education to empower individuals.The future of financial advisory services lies in integrating various financial services for clients.Understanding client emotions is key to effective financial advising.The financial services industry is evolving, and firms must adapt to stay relevant.Planning for taxes should be a year-round process, not just at tax time. Keywords financial services, wealth management, tax planning, Michael Foguth, AI in finance, collaboration, financial literacy, retirement planning, advisory services, family office

    34 min

  2. MAY 2

    The Challenge of Balancing Technology and Client Needs

    Summary In this conversation, Mo Arbas and Paul Miller discuss the complexities of client management in the advisory sector, emphasizing the importance of proactive engagement and understanding the annual client cycle. They explore the challenges of balancing technology with client needs, the significance of routine communication, and the necessity of shifting mindsets regarding tax preparation. The discussion highlights strategies for building successful client relationships and managing expectations throughout the year. Takeaways Technology can be a double-edged sword in client management.Learning to say no is crucial for prioritizing tasks.Client relationships are ongoing and require continuous engagement.Tax filing should be a routine part of a larger process.Proactive communication can prevent last-minute rushes.Understanding the annual client cycle is essential for effective management.Routine check-ins can alleviate end-of-year stress.Clients often view tax preparation as just another step in the process.Effective client management requires clear scope and engagement definitions.Building a knowledge base can enhance client communication and service. Keywords: technology, client management, annual cycle, proactive engagement, communication, tax preparation, client relationships, advisory services, workflow, business strategy

    28 min

  3. APR 15

    Evolving Client Engagements & Meetings

    In this conversation, Mo and Paul discuss the challenges of navigating tax season, the evolving nature of client engagements, and the generational shifts in client expectations. They explore the role of meetings in client relationships, emphasizing the need for effective communication and understanding client dynamics. The discussion highlights the importance of adapting to new client behaviors and the necessity of balancing traditional practices with modern expectations. Navigating tax season can be challenging but rewarding.Younger clients often prefer electronic communication over in-person meetings.Generational shifts are changing client expectations in the tax industry.Meetings should focus on knowledge transfer rather than routine tasks.Clients today are more dismissive of their financial responsibilities.Effective communication is key to understanding client needs.Legacy clients may require different engagement strategies than new clients.The role of technology in client interactions is increasingly important.Firms must adapt to changing client dynamics to remain competitive.Team collaboration is essential in managing client relationships. Keywords: tax season, client engagement, generational shifts, meetings, client dynamics, tax returns, electronic communication, legacy clients, firm culture, client expectations

    26 min

  4. APR 1

    The Future of Advisory Services: Embracing AI

    In this episode, Mo and Paul discuss the evolving landscape of advisory services in the context of AI and technology. They explore how AI tools like ChatGPT are being integrated into client interactions, the importance of maintaining a human element in advisory roles, and the future implications for professionals in the industry. The conversation highlights the need for advisors to adapt to changing client expectations and the potential for AI to enhance, rather than replace, the advisory relationship. AI is becoming increasingly efficient in client interactions.Advisors must focus on implementation, not just information.The human element in advisory services remains crucial.Clients are using AI for financial advice more frequently.Advisory roles will evolve with technology advancements.AI can serve as a valuable tool for advisors.Understanding client needs is essential in a tech-driven world.The pace of change in the industry is accelerating.Advisors should embrace AI to enhance their services.Starting to use AI tools can lead to significant efficiencies.

    26 min

  5. MAR 18

    Why Should I Reset a Relationship?

    Paul and Mo discuss how important it is to reset a client relationship and provide tips on how to do that on a regular basis.

    31 min

  6. MAR 4

    2025 Kickoff!

    Paul and Mo are back to check on the pulse of the practice!

    22 min

  7. 12/24/2024

    A Year in Review

    It's bittersweet moment as Paul and Mo reflect on key moments this year and what they're looking forward to in 2025.

    26 min

  8. 12/09/2024

    Are Your Ready to Advise?

    Paul and Mo discuss the new AI-powered tech with Ready to Advise during Thomson Reuters SYNERGY.

    12 min
See All (125)

4.8
out of 5
26 Ratings

About

We all love free… But tax and accounting firms love it so much that they give their brain away for free! Everything is changing in our profession but the future is bright. Tune in to turn pain points into opportunities. Join Paul Miller and Thomson Reuters Advisory Consultants as they have real and relevant conversations to provide you with inspirational and actionable ideas to move your firm forward. Expect to hear from your peers as well as they share their experiences and discuss relevant topics you're all familiar with; leadership, client relationships, firm culture, staffing, technology, and much more! Learn more about Practice Forward at http://tax.tr.com/practice-forward

Information

  • Creator
    Thomson Reuters
  • Years Active
    2019 - 2025
  • Episodes
    125
  • Rating
    Clean
  • Copyright
    © Thomson Reuters
  • Show Website
    Pulse of the Practice

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