Maximizing Your Advisory Services: Insights on Benchmarking and Tax Advisory with Jackie Meyer and Susan Bell

In a recent episode of the Concierge CPA Podcast, Jackie Meyer, CPA, sat down with Susan Bell, co-founder and CSO of Vertical IQ, to explore the transformative role of industry insights in advisory services. With decades of experience in financial services, Susan shared her journey from banking to co-founding a groundbreaking SaaS company, all while maintaining a strong focus on creating meaningful client relationships and work-life balance.

You can listen to the full episode here, or on your favorite podcast platform.

Redefining Advisory Services with Industry Expertise

One of the highlights of the discussion was how Vertical IQ bridges the gap for advisors who want to go beyond compliance services and into value-driven advisory services. Susan explained that the platform is designed to provide professionals with industry-specific insights, benchmarking data, and trends to better understand their clients’ needs. For example, whether advising a dry cleaner, a dental practice, or a tech startup, Vertical IQ equips accountants with the tools to ask better questions and provide tailored advice.

Advisory services are no longer optional for firms looking to stand out in a competitive marketplace. By equipping themselves with the right tools and industry knowledge, accountants can not only build trust but also elevate their practice into a go-to resource for strategic insights.

Why Benchmarking is the Cornerstone of Better Decision-Making

Benchmarking is a key feature of Vertical IQ, allowing accountants to compare a client’s financial performance against industry standards. Susan highlighted how this capability provides actionable insights for advisors to help their clients make smarter decisions. For example, knowing the average revenue, expenses, and growth rates for businesses of similar size and industry can help accountants pinpoint opportunities for improvement.

Benchmarking also enhances client relationships by demonstrating the accountant’s commitment to understanding their unique challenges and goals. Susan emphasized that advisors who leverage benchmarking are better positioned to guide their clients toward long-term success.

Tax Advisory: The Secret to Thriving in a Changing Landscape

Jackie and Susan discussed the increasing demand for tax advisory services as a differentiator in the accounting industry. With evolving client expectations and the rise of automation, traditional compliance work is no longer enough. Tax advisory services offer accountants an opportunity to provide meaningful value while growing their revenue streams.

Susan pointed out that using industry data from Vertical IQ can strengthen tax advisory discussions. For example, by understanding the specific challenges and opportunities within a client’s industry, advisors can craft tax strategies that align with the client’s broader business goals. This proactive approach ensures accountants remain indispensable to their clients.

Balancing Ambition with Work-Life Harmony

A significant portion of the conversation touched on the importance of work-life balance, particularly for female founders and leaders in the financial industry. Susan shared her philosophy of maintaining a “growth lifestyle business” that prioritizes culture, customer satisfaction, and company growth—in that order.

Jackie and Susan agreed that the key to success is working smarter, not harder. By leveraging technology and fostering a supportive work environment, it’s possible to scale a business without sacrificing personal well-being. This message resonated deeply with Jackie’s audience, many of whom are small firm owners navigating the pressures of running a business while maintaining a fulfilling personal life.

Your Next Steps for Transforming Your Firm

As Susan Bell and Jackie Meyer highlighted, the path to becoming a cherished advisor is paved with curiosity, actionable insights, and a commitment to client success. Tools like Vertical IQ make it easier for accountants to go beyond the numbers and into meaningful, results-driven advisory services.

Looking to take your tax firm to the next level? TaxPlanIQ is here to help. With features like curated tax strategies, custom-branded tax plans, and clear implementation steps, TaxPlanIQ simplifies tax advisory work, allowing you to deliver greater value to your clients and grow your practice.

Sign up for a free demo of TaxPlanIQ today and see how our innovative software can help you transform your firm into a high-value advisory powerhouse.