The CFO Shift in Modern Accounting
In today’s rapidly evolving financial landscape, traditional accounting firms can no longer rely solely on tax preparation and compliance work. Business owners are seeking strategic partners who can provide ongoing insights, financial clarity, and proactive growth support. This shift has paved the way for CFO and advisory services to become a cornerstone offering for firms that want to remain competitive and increase profitability.
This podcast episode of Building the Premier Accounting Firm takes a deep dive into how strategic CFO services are transforming firm operations and client relationships. The episode features Lera Kooper, a CPA and business advisor who has helped grow a scalable and profitable accounting firm through smart acquisitions, standardized advisory models, and a tech-enabled team.
Meet Lera Kooper: The Strategic Force Behind a $3M Accounting Firm
Lera Kooper started her career in accounting for practical reasons but quickly saw the limitations of traditional firm models. After experiencing frustration with how tax and accounting services were delivered, she reconnected with a former employer and formed a partnership focused on acquiring and scaling CPA firms.
“I just realized I did not want to do another season the way that I currently was… So I reached back out to Dave,” Lera shares in the episode. From there, she became an equity partner and helped grow the firm to 23 team members through a series of smart acquisitions and a strong advisory model.
Their firm now operates under a unified brand and tech stack, allowing them to deliver consistent and scalable services across clients. This strategy not only improved operations but also positioned the firm to offer CFO services that provide recurring value to clients.
Why Accounting Firms Must Offer CFO Services
CFO and advisory services go beyond delivering financial statements or filing taxes. They equip business owners with actionable insights, scenario planning, and strategic direction.
Lera likens it to a gym: “Good accounting is like having a gym membership… but actually showing up and using the equipment is where the magic happens.”
The value of CFO services lies in:
- Helping clients make data-driven decisions
- Providing monthly or quarterly financial guidance
- Offering cash flow forecasts and scenario planning
- Creating accountability and long-term strategy support
By delivering these services, accounting firms move from being transaction-focused to becoming indispensable strategic partners.
Top 5 CFO Services That Boost Profitability
Lera outlines the core CFO services her firm offers that have both transformed client results and increased firm revenue:
- Financial Forecasting & Budgeting – “If you have goals, the only way you can target your resources properly is to plan for that,” Lera notes. Forecasting allows firms to create roadmaps for growth and profitability.
- Cash Flow Management – Monthly oversight of inflows and outflows gives business owners clarity and confidence, especially during uncertain times.
- KPI Tracking & Dashboard Reporting – By establishing measurable performance indicators, firms can help clients stay accountable and adjust strategies in real time.
- Business Coaching & Strategic Planning – Advisory is not just about data—it’s about helping clients understand what to do with it. This involves scenario analysis and tactical planning.
- M&A and Exit Strategy Support – The firm supports clients preparing for business sale by collaborating with brokers, attorneys, and wealth planners to maximize valuation.
Pricing CFO Services: What You Should Be Charging
One of the major takeaways from the episode is how underpriced many firms are when delivering high-impact CFO services.
“Typically, we’re starting at about $1,200 a month,” Lera shared. Roger pointed out that national averages range from $1,500 to $3,000, and in some cases $5,000 or more, depending on service scope and firm size.
She adds, “We need to raise our prices after you’re sharing that,” highlighting a common issue among firms undervaluing their advisory work.
The key to confident pricing lies in defining deliverables, productizing services like FP&A (Financial Planning & Analysis), and aligning fees with client outcomes.
Building Scalable Advisory Services With the Right Tech Stack
Acquiring firms with different processes and software might seem like a challenge, but for Lera’s team, it became a competitive advantage.
“Honestly, the more of a mess it is, the better it is for us,” she says. With a standardized tech stack and trained team, they can absorb firms quickly and apply consistent workflows across the board.
This not only speeds up post-acquisition integration but also allows the firm to productize advisory services like FP&A and deliver consistent value regardless of team member.
Final Thoughts: Build a Firm Clients Rely On
Offering CFO services isn’t just about improving revenue; it’s about becoming a reliable partner that clients turn to when they face both opportunity and crisis.
“When things are going well or more importantly when things aren’t, we’re the first person they call,” says Lera.
By embedding recurring advisory into client engagements, firms create long-term relationships built on trust, strategy, and shared growth.
Listen Now: Top 5 CFO Services with Lera Kooper
If you’re an accounting professional or firm owner looking to scale, boost profitability, and deliver more meaningful services to clients, this episode is a must-listen.
Tune in to hear how Lera Kooper turned strategic CFO services into a growth engine for her firm and learn how you can do the same.
Listen to the full episode on Spotify, YouTube, or your favorite podcast platform.
Offers:
Schedule a time to speak with Lera: https://www.accountabilityservices.com/discovery-meeting-advisory-accounting-firm/
They have amazing discussions and education around how accountants can live their values through their work, creating and being the change you want to see in the world. All of their offerings are free.
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