Every business has a unique set of needs and should search for a strategic financial services provider that understands this. No one size “fits all!” Depending on the size of the company or the specific industry in which it operates, there are a variety of issues to consider when choosing a firm to handle the tax, accounting, and business advisory needs.
A sole practitioner or small CPA firm may be the right choice to handle your accounting needs if your company is a start-up or a smaller, less complicated business. However, a fast-growing small to mid-sized private or public company, with more challenging accounting and tax issues, should seek out a regional mid-size firm with a depth and breadth of expertise that can also provide a range of ancillary services. In addition to our core accounting, audit and tax competencies, Fuoco Group offers a portfolio that includes services from financial planning and wealth management, to insurance and asset protection, as well as lending solutions. A mid-size firm like Fuoco Group has regional brand recognition and a well-deserved reputation in both New York and Florida. Companies will get the same expertise and better customer service at substantially lower fees than when engaging the Big 4 or the Next 4. Here are some of the biggest advantages to working with a regional firm:
1. Know Who’s Working on Your Business
Big national firms may have an impressive client list full of Fortune 500 names, but that means most of their time is devoted to those who generate large fees while smaller clients have lower priority. At the regional level, the professionals at Fuoco group are genuinely interested in their clients’ business and financial situation and strive to build an ongoing professional relationship. Clients have a connection to their CPA and are more comfortable discussing performance and operations, and asking for advice about other financial needs of their company.
At Fuoco Group, the Directors take time to understand the details of their clients’ businesses and their unique needs. Many industries are different and certain companies may require distinct services such as R&D, Cost Segregation, 179D, etc. Our Directors and their teams in New York and Florida work in industries from Healthcare and Hospitality, to Real Estate and Retail, as well as Manufacturing and Distribution. They roll up their sleeves and get to know the ins and outs of their clients’ business – offering high-level expertise on a daily basis. Because they have an in-depth knowledge of their clients the turnaround time to resolve issues is fast.
2. Better Teams and Less Employee Turnover
Employee turnover at Fuoco group is low so there is more continuity on the engagement teams. Given the high pressure environment that comes with working at a national firm many top performers tend to want to leave and Fuoco Group can attract talent with better work/life balance, meaningful hands-on experience and a mentoring company culture. When choosing a firm, it is important to take into consideration the employee retention rate and level of employee engagement because it will tell you the quality of client service you can expect.
3. Fee Structure
The fee structure of a regional firm will usually be significantly less and more flexible to fit your company’s needs. There is less overhead, fewer layers of staff and management, and additional value-added business or financial consulting fees are structured on an hourly basis. Since every client’s needs are different, we bill based on the services used and the time it took for work that was actually done.
4. Benefits of a Broader Network
Many regional firms are part of national and international networks, giving them access to additional technical expertise and the ability to service clients who do business outside of their immediate locale. Firms across the country can collaborate closely with consistent quality and standards of service. Whatever a client’s location or area in which they do business, Fuoco Group can expand its resources and bring in strategic partners so the client only deals with our CPA firm and does not have to worry about managing an additional relationship.
5. Community Engagement
We are an integral part of your local community and give back where you live, work, and play! We strengthen and support the professional organizations and local non-profits that are important to our clients.
Contact Us: If you are looking for a trusted business and financial advisor that understands today’s challenges, helps his clients solve problems and identify opportunities to create value, and will assist you in refocusing on the reasons you started your business in the first place, contact Lou Fuoco, CPA. Whether New York or Florida, or in between, call toll free 855-534-2727 or email Lou directly at LFuoco@Fuoco.com. Be a part of the “New Financial Dialogue.”
