For many accountants, compliance work has been the bread and butter of their profession: preparing tax returns, compiling financial statements, and ensuring regulatory deadlines are met. But as Roger Knecht, president of Universal Accounting Center, discussed with advisory strategist Amanda Watts on the Building the Premier Accounting Firm podcast, the real opportunity for growth lies in moving beyond compliance to offer advisory services.
Watts emphasized that accountants are uniquely positioned to help clients make smarter decisions about their businesses, yet too many underestimate their ability—or avoid stepping into this space altogether. By reframing their role, accountants can evolve into trusted advisors who provide lasting transformation for clients while unlocking new revenue streams for their firms.
Advisory: More Than Just Numbers
As Watts explained on the podcast, advisory isn’t about having all the answers—it’s about asking the right questions. Outside the accounting world, this kind of support is often called coaching, mentoring, or guiding. For example, if a client asks, “Can I afford to invest in new equipment?”, a compliance mindset would simply crunch the numbers. An advisory mindset instead explores the client’s goals, risks, and future plans, empowering them to make confident, well-informed decisions.
Knecht put it succinctly: compliance makes you a historian; advisory makes you a strategist.
Why Accountants Hesitate—and How to Overcome It
One of the biggest hurdles is fear: fear of not knowing enough, fear of being wrong, or fear of charging for advice they’ve often given away for free. Watts pointed out that most accountants are already advising without realizing it—answering client emails about cash flow, loans, or personal financial decisions. The difference is packaging and pricing those insights intentionally.
The key, she noted, is confidence—and confidence comes from action, not waiting. Accountants already bring years of training and experience to the table; advisory work is simply applying that expertise in a new, more impactful way.
Pricing Advisory Services: Focus on Transformation
Traditional hourly billing doesn’t fit advisory services. Instead, Watts recommends pricing based on the transformation delivered. Clients don’t pay for hours—they pay for clarity, growth, and improved outcomes.
On the podcast, Watts shared that firms can map out advisory journeys in advance using “delivery snapshots”: structured sessions with specific tools, metaphors, and action steps. This gives clients a clear picture of the value they’ll receive over months or years, and it helps accountants confidently set fees that reflect that value.
The industry average for advisory services ranges from $1,500 to $3,000 per month, with some firms charging much more. As Knecht emphasized, the return should be easy to justify: if a client invests $10,000, they should be able to save or earn at least $100,000 through your guidance.
Structuring and Scaling Advisory Services
A common worry is the time commitment. Watts recommends defining engagements clearly—whether that’s intensive work in the first 90 days, or steady monthly meetings. On average, accountants spend about five to six hours per month per client, which can be scaled effectively with the right systems.
Productizing services—standardizing onboarding, packaging processes, and creating repeatable systems—helps advisors deliver consistently without reinventing the wheel for every client. This approach also makes it easier to involve team members and expand capacity.
Why Accountants Are the Best Advisors
Business coaches often help entrepreneurs think about vision and strategy, but as Watts noted, many lack the ability to connect those conversations to financial realities. Accountants bring something no other advisor can: the ability to talk strategy, the future, and the money.
With half of small businesses failing within five years, the guidance accountants can provide is critical. As Knecht observed, the profession has the potential to change not just individual businesses, but the economic landscape—if accountants are willing to step up.
The Payoff: Fewer Clients, Greater Impact
Moving into advisory doesn’t just benefit clients. It can transform firms too. By charging based on transformation, advisors often need fewer clients to generate higher revenue, creating more time, flexibility, and fulfillment.
For accountants tired of living in the weeds of compliance, advisory offers a chance to shift from being recordkeepers to being changemakers.
Taking the First Step
The journey begins with embracing the role of advisor:
- Define what advisory means in your practice.
- Overcome hesitation by recognizing the value you already bring.
- Price for transformation, not hours.
- Productize and standardize to scale effectively.
As Watts stressed, this is not about perfection—it’s about progress. Advisory services are where accountants can deliver the greatest value to clients, while creating more profitable, rewarding practices for themselves.
A Call to Action
If you’re ready to expand your firm beyond compliance and start offering high-value advisory services, the Universal Accounting Center can help you every step of the way. Call 435-344-2060 today to connect with Roger Knecht’s team and learn how to package, price, and deliver advisory in a way that transforms your clients’ businesses—and your own.
