For too long, accountants, bookkeepers, and CPAs have been undervaluing their expertise by giving away free advice. While compliance work such as tax preparation, bookkeeping, and year-end filings remain essential, the future of accounting lies in advisory services. In a recent episode of Building the Premier Accounting Firm, host Roger Knecht sat down with Amanda Watts to discuss how accountants can overcome their fears, structure engagements, and confidently price advisory services at $5K a month and beyond.
Meet the Guest: Amanda Watts – Business Advisory Strategist
Amanda Watts is no stranger to the challenges accountants face. With over a decade of experience, she has empowered more than 3,000 practices in 23 countries to build fast-growing, award-winning firms. She is also the co-founder of Uplevel by Oomph Global and the author of four books on branding, marketing, and sales.
Her mission is simple: help accountants, CPAs, and bookkeepers move beyond compliance work and embrace business advisory services. As she explained:
“I don’t want anyone to go through the pain that my dad went through… If you don’t price properly, if you don’t know how to do marketing, you struggle. That’s why I’m passionate about transforming this profession.”
Compliance vs Advisory: What’s the Real Difference?
One of the first points Amanda makes is clarifying the difference between compliance and advisory. Compliance work is transactional: filing tax returns, closing the books, or preparing reports. Advisory, however, is transformational.
“Advisory is everything outside of compliance. When a client asks, ‘Can I afford my mortgage?’ or ‘Can I buy new equipment?’—you’ve moved into advisory. It’s not about having all the answers. It’s about asking the right questions so your clients can uncover the best solutions.”
This distinction sets the stage for why advisory work not only delivers more value to clients but also allows accountants to command premium fees.
Overcoming Fear: Why Accountants Hold Back
Despite the clear opportunity, many accountants hesitate to offer advisory services. According to Amanda, the root cause is fear.
“People are scared. They’re scared they’ll get it wrong, scared they won’t have all the answers, scared of being judged. But confidence comes from action. You don’t become confident by sitting back. You become confident by doing.”
This insight resonates with many professionals who recognize their knowledge but struggle to step into the advisor role.
Structuring Advisory Engagements for Maximum Impact
One of the biggest challenges for accountants is knowing how to deliver advisory services consistently. Amanda recommends creating structured engagements that balance time efficiency with client value.
Her model: work with 21 clients for 10 hours a week, typically speaking with each client every other week. Advisory should be productized into repeatable processes that can be delivered with confidence.
“My clients create delivery snapshots—tools, worksheets, and metaphors they can use again and again. Once you’ve done it with a few clients, you don’t need to worry about month six or month twelve. You know exactly what to deliver.”
This approach allows advisory to become scalable, profitable, and less intimidating.
Pricing Advisory Services: From Free Advice to $5K/Month Packages
Perhaps the most eye-opening part of the discussion is pricing. Too many accountants undervalue themselves by charging hourly rates or giving advice away for free. Amanda is clear:
“We don’t price on time. We price on transformation. If a client pays you $10,000, you should be helping them make or save $100,000. That’s the value of advisory.”
Industry benchmarks show that successful firms charge anywhere from $1,500 to $5,000 per month, with some engagements reaching $10,000 monthly. The key is articulating the transformation—whether that’s saving time, making more money, or reducing stress.
Accountants vs Business Coaches: Who Delivers Real Value?
Toward the end of the conversation, Amanda draws a sharp contrast between accountants and business coaches. While many business owners turn to coaches, she believes accountants are uniquely positioned to be the true advisors.
“The best advisors can have three conversations: the future conversation, the strategy conversation, and the money conversation. Business coaches can’t have the money conversation, but accountants can—and that’s what makes them invaluable.”
This framing not only elevates the role of accountants but also highlights why advisory services are a natural progression for the profession.
Key Takeaways
The conversation between Roger Knecht and Amanda Watts offers a roadmap for accountants ready to embrace advisory services:
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Move beyond compliance work and become a trusted advisor.
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Overcome fear by taking action and building confidence through practice.
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Structure engagements with clear frameworks and repeatable processes.
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Price based on transformation, not hours, with fees ranging from $1,500 to $5,000+ per month.
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Recognize that accountants, not business coaches, are the real advisors small businesses need.
For those ready to stop giving away free advice and start getting paid what they’re worth, advisory is the path forward.
If you’re ready to 10X your income with advisory services, listen to the full episode of Building the Premier Accounting Firm featuring Amanda Watts.
Download your FREE Business Advisor Playbook to learn how to package, price, and deliver profitable advisory services. And don’t forget to subscribe for more expert insights on building a profitable accounting firm.
Offers:
Check out the Business Advisor Podcast and download the Business Advisor Playbook for free at www.BusinessAdvisorPodcast.com or www.AmandasNewBook.com
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