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Expanding from compliance services into advisory work is a goal for many accountants, but making this shift requires deliberate action. While the benefits of advisory services—stronger client relationships, diversified revenue streams, and more impactful work—are clear, implementing these changes can be challenging without the right approach.

Why Advisory Services Matter

Firms focusing on advisory services are better positioned to address their clients’ strategic needs, offering insights that go beyond routine compliance. This shift isn’t about abandoning compliance work but integrating advisory alongside it to provide a more comprehensive service.

Challenges in Transitioning

Many accountants find the transition difficult due to:

• Time Constraints: Compliance tasks dominate workloads, leaving little room for advisory development.

• Skill Gaps: Advisory requires skills in strategic analysis, communication, and industry-specific knowledge.

• Client Expectations: Convincing clients of the value of advisory services can take time.

Three Steps to Get Started

1. Streamline Compliance Tasks

Automating routine processes like bookkeeping, data entry, accounts payable, and accounts receivable is a practical way to free up time for advisory work. Many firms still spend hours manually reconciling transactions, chasing overdue invoices, or compiling financial reports, tasks that can be streamlined with the right technology. By reducing the time spent on these repetitive processes, accountants can focus on delivering strategic insights and higher-value services to their clients.

2. Start with Key Clients

Select a few clients to pilot advisory services. By focusing on a manageable group, you can refine your approach, demonstrate tangible value, and build confidence in scaling up.

3. Develop Team Skills

Invest in training to ensure your team is ready for advisory roles. Skills like data interpretation, scenario analysis, and effective communication are critical for delivering impactful advice.

A Practical Example

• Hear how accountant has benefited from deploying VFD Pro

  https://www.vfd.academy/case-study-from-practice-accountant-to-changing-lives/

  I love, love, love, love VFD. I’m so happy I found you all and added it to my toolbox, t’s huge for me. After over 30 years in practice, this tool has completely transformed the way I deliver value to my clients. With VFD, I gained the confidence to double my fees because it helped me realise just how essential strategic advisory services are. Watching one client grow from £47,000 to £3.5 million in turnover was phenomenal, and VFD was key to streamlining the process and enabling me to focus on growth strategies. This tool has opened up a whole new area for me, and I’m thrilled to be able to help so many more businesses succeed.”
  – Donna Russell, Fractional Finance Director

Moving Forward

Transitioning to advisory work is an opportunity to deepen client relationships and grow your firm. The key is to start small, leverage the right tools, and focus on building capabilities over time. By addressing challenges head-on and planning your approach, you can successfully expand your services while continuing to meet compliance needs.

For more practical resources and tools to support your transition, explore the VFD Academy. Our guides and training modules are designed to help accountants confidently grow their practices.

Explore the VFD Mastery Programme https://www.vfd.academy/vfd-mastery-programme/

Explore the VFD Reports and Business Advisory Models https://www.vfd.academy/resources/