Are you looking to transform your traditional tax and accounting firm into an advisory firm? Or are you looking to take your advisory services to the next level?
As the accounting profession continues to evolve, firms across the industry are working to find the best path forward. Firms everywhere recognize the need to evolve beyond traditional compliance work, yet many struggle with a fundamental question: How do we take that crucial next step? Whether you’re just beginning to explore advisory services or looking to elevate your existing offerings, the path forward requires clarity, community, and proven methodology.
“There’s got to be a better way. We’re not necessarily making more revenue, we’re just doing more work,” reflects Nick Fry, CPA & Founder of Fry & Associates, CPAs Inc. This sentiment resonates across the profession — the recognition that working harder isn’t the solution. The answer lies in strategic transformation toward advisory services, but knowing where to begin can feel overwhelming.
The journey toward becoming an advisory-focused firm isn’t one-size-fits-all. Some firms are just starting to consider what advisory services might look like, while others have already begun offering advisory but want to scale and refine their approach. Understanding your starting point is crucial to choosing the right path forward.
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Understanding your advisory starting point
Before selecting your next step, honest self-evaluation is essential. Where does your firm currently stand in the advisory journey?
Track 1 Firms are typically just getting started. These firms haven’t thought seriously about advisory services beyond hearing the term mentioned at conferences or in industry publications. They may offer occasional advice to clients, but haven’t systematized these interactions or developed a methodology for consistent advisory delivery. “We had new people that haven’t even thought of advisory. They’ve heard of it but didn’t even know what steps to take,” explains Therese Witherow, Principal Trainer at Thomson Reuters.
Track 2 Firms are ready to advance. These firms may be Practice Forward graduates or have equivalent experience offering advisory services. They’ve moved beyond the foundational concepts and are looking for advanced strategies, peer connections with similar firms, and ways to optimize their existing advisory offerings. “Practice Forward helped me really realize the value that I bring to my clients, and the value that our firm brings to our clients,” shares Tracie Hannick, E.A. & Owner of Bean Counting Firm, Inc.
Different starting points require different approaches, and that’s where Thomson Reuters has developed two distinct pathways to meet firms wherever they are in their advisory evolution.
Partner Summit: Your foundation for advisory success
For Track 1 firms in the early stages of their advisory journey, Partner Summit provides the essential foundation. This intensive 2-day experience introduces non-Practice Forward firms to the core concepts that transform traditional accounting practices into thriving advisory businesses.
Partner Summit delves deep into what it takes to get compensated for your value and stop giving your knowledge and expertise away for free. The curriculum includes transformative sessions such as “The Arc of Change,” which maps out a firm’s journey from compliance to advisory, “The Advisory Firm Model,” which provides the structural framework for advisory success, and practical guidance on evaluating and transitioning existing clients while developing prospect acquisition strategies.
But Partner Summit is more than just educational content — it’s a strategic retreat that allows firm leaders to step back from daily operations and focus on building their future. “Attending Partner Summit allows you to step away from the day-to-day grind of your practice to work ON your practice. [It] brings together like-minded professionals from throughout the country who are in the same trenches that you are in,” explains Sharon Macke, CPA & Founding Partner of Macke & Company, CPAs.
The peer networking aspect proves invaluable. Firm leaders connect with others facing similar challenges, creating relationships that extend far beyond the event itself. These connections often become ongoing sources of support, accountability, and collaboration.
The methodology taught at Partner Summit delivers immediate results. “After attending a Partner Summit we came back all inspired and used the methodology [with a client.] I used everything [and] had the two-meeting approach. They were really happy, [and] it was a success. We changed everything going forward,” reports Jessie Fry, Senior Accountant at Fry & Associates, CPAs Inc.
Advisory Symposium: Taking it to the next level
Recognizing that the advisory community wanted something more comprehensive, Thomson Reuters developed the Advisory Symposium — a 3-day experience designed by advisory experts for advisory practitioners at all levels of Track 2 firms.
“We knew that our advisory community wanted something more. And then we came together, and we thought, gosh, how are we going to deliver an advisory-focused conference that meets the needs of all the various levels that people are in their advisory journey,” explains Lisa Tierney, Manager of Professional Services at Thomson Reuters Tax & Accounting Professional Services.
The Advisory Symposium features two distinct tracks serving different needs:
Advisory Symposium Track 1 – Partner Summit Track offers the same foundational content as the traditional Partner Summit but expands the experience to three days. Participants receive additional keynote sessions, roundtable discussions, and unique opportunities to interact with established Practice Forward firms. This track is perfect for firms new to advisory concepts who want a more comprehensive introduction with additional networking and learning opportunities.
Advisory Symposium Track 2 – Practice Forward Track is exclusively designed for Practice Forward firm members who have mastered the foundational methodology and are ready for next-level concepts. These advanced sessions focus on topics like “The Art of Client Retention: Enhancing the Advisory Relationship,” “Business of Advisory: Data Intel – Creating Effective Forms for Quality Insights,” “Expanding Your Practice: How to Spot and Sell Advisory Services to Clients,” and “AI in Action: Leveraging AI for Competitive Advantage.”
The symposium’s community aspect creates organic cross-pollination between tracks, with color-coded networking helping connect firms of similar sizes and situations. “Even advanced members had those light bulb moments of what’s next for their clients. So, one of the biggest takeaways was just watching the different views and different intakes from each of the attendees,” notes Therese Witherow.
The proven results: What success looks like
The transformation that follows these educational experiences is both measurable and meaningful. Firms report significant revenue increases, operational improvements, enhanced work-life balance, and dramatically improved client satisfaction.
“Within our first year of implementing Practice Forward, we sold $225,000 of revenue. Of that, $87,000 was advisory services, and that was advice that I was giving away for free,” shares Katie Lomness, CPA & Founder of Lomness CPA. This quantifies the immediate financial impact, but the transformation goes deeper.
“The single most important difference that Practice Forward has made in our firm is it has put us back into the driver’s seat of our firm. We feel like we’re in control now, whereas before we felt like our clients kind of steered us to where the direction of how that day was gonna take us,” explains William Macke, CPA, ESQ., & Managing Partner of Macke & Company, CPAs.
Choosing the next step in your advisory journey
The decision between Partner Summit and Advisory Symposium depends entirely on your firm’s current position and readiness for transformation. If you’re just beginning to explore advisory services or need foundational methodology, Partner Summit provides the essential building blocks. If you’re already offering advisory services and want to elevate your approach with advanced strategies and peer connections, Advisory Symposium offers the comprehensive experience you need.
Both pathways represent an investment in your firm’s future — not just financially, but strategically. They provide the methodology, community, and confidence necessary to transform how you serve clients and build your practice.
“100% I would recommend this to anybody recognizing that they need to make a change. If you’re ready for that and willing to recognize that the way you’re doing things isn’t the way it has to be done, this is about the easiest decision you’ll ever make,” encourages Aaron Clark of Heintz + Clark, Ltd.
The next step in your firm’s advisory journey is waiting. The question isn’t whether you need to evolve — it’s which path will get you there most effectively.
