Once youβve identified the business needs among your current clients that could be met by client advisory services, and youβve assessed the strengths and aptitudes of your team. Youβve done the first step in addressing the βpeopleβ part of the people, processes, and technology approach to developing a client advisory services (CAS) practice.
Still working on this part? Read more about assessing your clients and your team to help you identify your firmβs CAS menu.
Now youβre ready to take the next step in offering advisory services, but how should you engage your first CAS clients?
Every client is different. You probably have clients who have a firm grasp on financial statements and cash flow management. They may already know how to leverage their balance sheet to meet the needs of their business and market. Other business owners run their organisations based solely on gut instinctβand couldnβt tell the difference between a P&L statement and a tablet of ancient Egyptian hieroglyphics.
Yet both clients need an advisor to provide objective, expert advice about their finances and operations. Thatβs where you come in.