At Smith Marion, we’re revolutionizing our approach to client relationships by focusing on Client Advisory Services (CAS). Carlos Carazo, CPA and EA, who has been with the firm for nearly a decade, talks about how this transformative shift aims to move beyond traditional bookkeeping and annual tax work to establish a more involved and ongoing partnership with business owners.

CAS: New, Innovative, and Exciting

Client Advisory Services (CAS) marks a significant shift in the accounting industry. CAS is not just about managing books; it’s like having an outsourced CFO and a dedicated team of experts at your disposal. This service offers strategic planning, high-level budget forecasting, and business operations consulting, making it a comprehensive financial solution for mid-sized, for-profit, and nonprofit businesses.

The Evolution of Financial Services

CAS involves regular, proactive client engagement rather than simply handling monthly bookkeeping or preparing annual tax returns. This includes perpetual monthly meetings and financial reviews, equipping business owners with the knowledge they need to make informed decisions. CAS provides continuous support and strategic insights, covering everything from equipment purchases and financing options to lines of credit and tax planning.

Access to Expertise

One of the most significant benefits of CAS is that it gives companies access to experts and consultants they might not have been able to hire otherwise. With CAS, businesses can benefit from the knowledge and experience of a dedicated CPA CFO and a team of business operations consultants. This expertise level helps companies navigate complex financial landscapes and make strategic decisions that drive growth and stability.

The Need for Continuous Financial Insight

For business owners, having a general understanding of their company’s financial health is essential, but keeping track of every detail can be challenging. CAS bridges this gap by providing regular updates and detailed analyses. This is especially beneficial for businesses experiencing high turnover in their finance departments or those needing a dedicated financial head. Mid-level companies can significantly benefit from this service, as it ensures they stay informed and prepared for any financial decision or opportunity.

Benefits of Client Advisory Services

The primary advantage of CAS is the constant flow of relevant financial information. Business owners gain insights into crucial aspects such as monthly sales figures, receivables, outstanding debts, and timing for new credit lines or equipment purchases. Moreover, staying updated with changes in tax codes, state regulations, and potential grants becomes manageable. This continuous information stream allows businesses to identify and seize opportunities they might otherwise miss

Key Services Offered:

• Strategic planning
• High-level budget forecasting
• Dedicated CPA CFO and business operations consultants
• High-level services, including bookkeeping, tax preparation, and consulting
• Customizable engagements