Does your firm need a sherpa?

Plus: Shrinking partner pay | Smarter recruiting tips

Does your firm need a sherpa?
Pexels/Tima Miroshnichenko

This week: what's growing, what's flopping and why your firm needs a sherpa (seriously). From the clients you really should break up with to why CAS revenue isn't translating into bigger partner paychecks, we're diving into the headlines that matter.

Plus, we've got real talk on recruitment and AI that works. You'll want to keep scrolling. Your future firm might thank you.

THE BOOKKEEPER'S BINGE

Need a client detox? Intuit shares how to cut ties with difficult clients (gracefully).

We couldn't not mention it, right? Tax Foundation explains the pros and cons of the One Big Beautiful Bill Act.

Good luck with that: U.S. Tax Court fines Utah resident who tried the "taxes are optional" argument.

Don't tell the boss we said it: Sometimes, quitting your job is actually the smart move.

Q&A

Keep it moving: Why your team needs a project sherpa

What do new tech rollouts, major client onboardings and office expansions have in common? Chaos—unless you’ve got someone steering the ship.

Enter Amanda Wilkie, PMP, consultant at Boomer Consulting, Inc. and former CIO at a Top 50 accounting firm. With years of experience guiding accounting firms through complex change, Wilkie knows exactly how project managers bring order to the madness.

In this Q&A with The Net Gains, she breaks down how firms of all sizes can harness project management for smoother systems, stronger client experiences and far less partner panic. Spoiler: it doesn’t have to be complicated (or expensive) to get started. —Janet Berry-Johnson

For firms that have never worked with a project manager, what’s the clearest way to explain the value they bring? 

A project manager keeps projects organized and moving forward so partners and staff can focus on client service. They coordinate tasks, timelines and teams, handle issues before they escalate and ensure projects stay on time and on budget. Instead of juggling details off the side of a desk, the firm has a dedicated role to drive accountability, streamline communication and deliver results—freeing up billable talent. 

What kinds of projects or firm initiatives benefit most from having a dedicated project manager instead of assigning it to a partner or manager?

Cross-functional projects benefit most from project managers. This includes things like implementing new software, integration after merging with another firm, opening a new office, major process changes or onboarding a large client. These involve multiple teams, tight deadlines and lots of moving parts. A PM keeps everyone aligned so partners don’t get buried in tasks and deadlines and the project doesn’t stall.

How can smaller firms that aren't ready to hire a full-time project manager start implementing PM principles to improve their workflows and client experience?

Smaller firms can start small: define clear goals, break work into steps, assign owners, set deadlines and track progress in a simple tool. Hold quick check-ins to stay on course and solve issues early. An empowered administrative professional can act as a “project champion” to coordinate tasks and follow-ups. Document what works and what doesn’t to improve with each project. 

You’ve worked with a lot of firms going through digital transformation. What role does a project manager play in keeping tech initiatives aligned with firm strategy and client expectations?

In digital transformation, a PM connects strategy to execution. They coordinate solutions providers, IT and staff, keep work on track, manage risks and ensure the project delivers what the firm actually needs. From a change management perspective, a PM also makes sure changes are communicated clearly to support adoption and that clients see the benefits. Without one, tech rollouts often stall or fail to meet expectations. 

UPWARD TRAJECTORY

Recruit like you mean it

Tired of hearing about the talent shortage? Too bad. It's still here. In this episode of The Progressive Firm Podcast, Leanne Wilkins and Jorgia Hatton get real about why old-school recruitment tactics won't cut it anymore. From snapping up great people even when you're not hiring to treating communications like a growth tool, they share how smart firms are rethinking their hiring game. Also on the docket: equity incentives, apprenticeships and onboarding that doesn't feel like a corporate scavenger hunt.

Why this matters: Growth needs people, and not just warm bodies. It's time to upgrade your hiring mindset. (The Progressive Firm Podcast)


INDUSTRY SHARES

Start your AI era strong

In the debut episode of the AI-Native Accounting podcast, host Kacee Johnson chats with Dawn Brolin of Powerful Accounting, Inc. and Matt Gardner of Hiline about what AI looks like in a modern firm (not the sci-fi kind, but the kind that helps with client onboarding, workflows and decision-making). Recorded live at Scaling New Heights, this conversation skips the hype and gets into the real, usable stuff that firms are already implementing to save time and boost value.

Why this matters: AI isn't coming; it's here. And if your firm is still on the sidelines, this podcast might be your nudge to jump in. (AI-Native Accounting)

CRUNCH TIME

75%

Percentage of accounting students who say they plan to start their own accounting-related business someday. Bad news for your succession plan. (Intuit)

THE NEWS
THE BOTTOM LINE

Growth is up. Partner pay? Not so much.

Firms are scaling faster than ever, but partner earnings aren't exactly riding the same wave, according to a recent survey.

While CAS practices saw the highest median net client fees among specialty firms, average compensation per equity partner dropped in 2024. That's right: more work, more clients and...less money for the top brass. The culprit? A mix of growing staff costs, margin pressure and the classic lag between reinvestment and payoff.

Why this matters: CAS might be the future, but it's not a magic ATM. Firms need to keep an eye on profitability levers like pricing, process efficiency and client selection if they want those revenue gains to translate into real partner payoff. Otherwise, growth for growth's sake might just mean working harder for thinner margins. (Inside Public Accounting)


The Net Gains is your one-stop shop for fresh, FREE accounting insights. You can reach the newsletter team at thenetgains@mynewsletter.co. We enjoy hearing from you.

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The Net Gains is curated and written by Janet Berry-Johnson and edited by Bianca Prieto.