The care and nurture of clients.

One small firm's strategies for getting and keeping clients

Clients defect from their CPA firms primarily because they believe the firm lacks interest in them. Being ignored, not being kept informed, and allowing partner contact to lapse were commonly cited complaints of clients who discontinued their relationship with a CPA firm, according to consultant Ronald J. Baker, speaking at the AICPA Practitioners Symposium in Las Vegas, June 3-5.

Treating clients right, keeping in touch with them systematically, and listening to them have helped the firm Mackey McNeill Mohr, PSC, Fort Wright, Kentucky, maintain strong client relationships. Consequently, business continues to grow as the firm attracts new clients and creates opportunities to provide current clients with additional services.

The firm has two main divisions. The wealth management division includes investment management, financial planning, and income tax preparation services. The other division is business services. In recent years, the firm has increased its emphasis on growth consulting, working with clients on their strategic plans, marketing, pricing, and other issues. Owner Mackey McNeill says, "We basically help them reconceptualize the business, probably putting some strategy to it for the first time in their lives."

Mohr Financial Services, the second company, is the registered investment adviser. McNeill has a Series 65 license, which, with the AICPA's PFS (Personal Financial Specialist) designation, is sufficient qualification to meet Kentucky regulations. When the firm started the wealth management group, they decided to get out of the audit business.

Clients have common issues in that they have built or are building substantial wealth. Virtually all of them are closely held businesses or high net worth individuals.

Keeping relationships strong

Among the many contributors to the firm's success is the diligence of McNeill and her staff in maintaining strong relationships with clients and other professionals who refer clients to the firm.

The firm uses weekly team meetings to discuss the concerns of top clients. At the meetings, the team reviews contacts, issues, and work for the firm's top 20% clientele. Mackey McNeill is very concerned about building a business, not just doing a job. As a result, all team members share responsibility for client care, contact and relationships.

Internally the firm uses Microsoft Outlook to maintain customer contacts and share key...