The accounting profession is changing fast. Traditional bookkeeping, compliance, and tax preparation are no longer enough for firms that want to grow sustainably, attract better clients, and increase profitability. Today’s most successful accounting firms are evolving into CFO advisory–led practices, offering insight, accountability, and strategic guidance—not just reports.
In this episode of Building the Premier Accounting Firm, host Roger Knecht sits down with Marie Torossian to unpack what it really takes for accountants to build profitable firms through advisory services, coaching, and clear positioning.
Why CFO Advisory Services Matter More Than Ever
Many accounting firm owners find themselves working harder each year without seeing proportional growth in revenue or freedom. The problem is not technical ability. As Marie explains, accountants are highly trained in numbers but rarely trained in marketing, sales, or client communication.
“We are not trained in marketing, and we are not trained in selling and closing contracts,” she notes. This gap leaves many firms underpricing their services and struggling to explain their value.
CFO advisory services bridge this gap. They shift the accountant’s role from historian to strategic partner—helping business owners understand where they are, where they are going, and how to get there.
The Challenge Facing Most Accounting Firms Today
Throughout the conversation, several common challenges surface:
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Firms bundle services without clearly defining them
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Clients assume everything is “just bookkeeping”
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Advisory work is delivered but not positioned or priced correctly
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Sales conversations lack clarity and confidence
Marie reflects on her early experience:
“I couldn’t even explain what I was doing a lot of times, because they were always assuming they were getting bookkeeping.”
Without clarity, clients question pricing, misunderstand outcomes, and undervalue advisory work. This is where many firms get stuck.
Meet Marie Torossian
Her journey into accounting started early, working in her father’s business as a child—long before she knew accounting was a formal profession. After years in audit and nonprofit leadership, she launched her own firm in 2018, later expanding into coaching after recognising a deeper need in the industry.
“Our industry needs this information. I wanted to bring sales, marketing, mindset, and accountability to accountants, bookkeepers, and CPAs.”
That insight led her to build a coaching practice alongside her accounting firm—without mixing the two.
CFO Advisory vs Bookkeeping: Understanding the Real Difference
One of the most important themes in the episode is service clarity. Marie and Roger repeatedly stress that bookkeeping, tax preparation, tax advisory, and CFO advisory are not the same—and should not be sold as if they are.
Bookkeeping focuses on accuracy and compliance. CFO advisory focuses on insight, forecasting, and decision-making.
“If we are not clear upfront, clients won’t know what they actually paid for,” Marie explains.
When firms fail to separate these services, they face pushback on pricing and confusion during onboarding. Clear differentiation creates better conversations, stronger trust, and higher perceived value.
Coaching, Advisory, and Consulting: Why the Distinction Matters
A standout segment of the episode is the breakdown of mentoring, consulting, advisory, and coaching—terms often used interchangeably but fundamentally different.
Roger summarises the distinction clearly:
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Consulting means doing the work
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Advisory means providing insight without accountability
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Coaching adds accountability, timelines, and follow-through
“Coaching brings accountability. We are not just educating and walking away. We are asking what you are going to do and holding you to it.”
This distinction is critical for accountants moving into advisory roles. Without accountability, advisory services often fail to deliver results, leaving both the firm and the client frustrated.
How Accounting Firms Attract High-Value Clients
High-value clients are not defined by revenue alone. According to Marie, mindset matters more than size.
“If they are not in a growth mindset, they are already not my clients.”
Throughout the episode, Marie explains how clarity in messaging, referrals from aligned partners, and advisory-led positioning naturally attract better clients—those who value insight, engage with the numbers, and make decisions based on data.
Referral partnerships, particularly with business coaches, play a powerful role. These clients already understand the importance of tracking performance and are more open to CFO advisory services.
Pricing CFO Advisory Services with Confidence
Pricing remains one of the biggest struggles for accounting firms. The solution, Marie argues, is transparency and separation.
Rather than bundling everything into a single package, firms should clearly explain:
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What bookkeeping includes
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What advisory includes
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What tax preparation covers
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What tax advisory delivers
“When clients understand the difference, they can decide what they want. There is no confusion.”
Clear pricing anchored to outcomes—rather than tasks—allows firms to defend their fees and position advisory services as an investment, not a cost.
Using KPIs to Drive Business Growth
CFO advisory is not just about financial statements. Marie highlights the importance of tracking leading indicators such as:
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Leads and conversions
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Sales calls
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Marketing channels
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Operational efficiency
“It’s not just financial KPIs. It’s what drives the revenue before it shows up in the numbers.”
By connecting operational activity to financial results, accountants help clients make informed decisions that actually move the business forward.
Accountability, Mindset, and the Human Side of Advisory
One of the most human moments of the episode focuses on accountability and emotional intelligence. Marie shares how personal challenges, time management issues, and mindset blocks often prevent clients from taking action.
“Most business owners underestimate the amount of action they have to take.”
In coaching and advisory relationships, creating a safe space allows clients to open up about what is really holding them back. From there, progress becomes possible.
Why This Episode Is a Must-Listen for Accounting Firm Owners
This episode is essential listening for:
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CPAs and accountants transitioning into advisory services
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Firm owners struggling with pricing and positioning
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Advisors looking to attract higher-value clients
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Professionals seeking growth without burnout
The conversation offers practical clarity on services, mindset, accountability, and long-term firm building—without hype or shortcuts.
Don’t Miss the Previous Episode
If you found this discussion valuable, be sure to listen to the previous episode of Building the Premier Accounting Firm. It builds on similar themes around firm growth, advisory services, and positioning, making it a perfect follow-up for accounting professionals serious about building sustainable, profitable firms.
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