The new report takes an in-depth look at how firms are expanding beyond compliance — and what's getting in their way.
NEW YORK, June 4, 2025 -- Accounting Today, the leading resource from Arizent for public accountants, publishes its latest research report, Blazing a Trail: The Path to Advisory Services. Sponsored by Choreo, the report reveals where the profession stands with the major push into advisory work, including possible obstacles, key services firms are focusing on and potential ways forward.
As demand for strategic guidance continues to rise, firms are feeling the pressure to shift beyond tax prep, payroll and other traditional services. While many have already taken steps in this direction, Accounting Today's new data shows that capacity constraints, skill gaps and unclear service priorities are slowing progress — even as 85% of firms plan to grow their advisory business in the next two years, with 25% expecting that growth to be significant.
"While a small portion of the profession may be sticking strictly with compliance services, the majority recognize their best path forward involves adding more advisory services to their practice mix," says Accounting Today Editor-in-Chief Dan Hood, who authored the report. "To do this, though, they'll need to overcome related hurdles like the general talent shortage stretching staff thin, and the need to find or develop the skillsets necessary to offer an entirely new service."
Key insights from the report include:
- Which advisory services firms are prioritizing — and why
- How internal expertise and client demand shape service line decisions
- The surprising limitations of cross-selling among current clients
- The challenges holding nearly one-third of firms back from offering any advisory services at all
Based on a survey of nearly 300 accounting professionals, the report offers a grounded look at the profession's transformation, with direct quotes and candid reflections from firm leaders across the country.
This research is essential reading for firms evaluating how — and whether — to expand into advisory work. The full report is now available for download: https://www.accountingtoday.com/research-report/blazing-a-trail-the-path-to-advisory-services
About Accounting Today
Accounting Today is the leading information resource for public accountants — serving the community of professionals who provide tax preparation, bookkeeping, auditing, financial planning, and business advisory and consulting services to individuals and small businesses. Accounting Today is sharply focused on the industry's most important concerns, including tax law, accounting standards, technology, audit and assurance, and wealth management. Its analysis and breaking news, opinion and expert advice, and practical business-building ideas enable partners, principals and practitioners to make informed decisions about their business and the clients they serve.
About Arizent
Arizent is a business information company that advances professional communities by providing insights and analysis and convening industry leaders. The company uses deep industry expertise and a data-driven platform to deliver its services, which include subscriptions, marketing services, live events and access to Leaders Forum, a digital content platform featuring livestream and on-demand formats. Arizent also connects business communities through leading financial services brands like American Banker, The Bond Buyer, Financial Planning and National Mortgage News, as well as professional services brands like Accounting Today, Employee Benefit News and Digital Insurance.
About Choreo
Choreo's core offerings include comprehensive wealth management and retirement plan advisory services. Integrated financial, tax and estate planning, and investment services are at the core of our wealth offering. We work with many complex clients and are adept at tailoring a comprehensive approach for many business owners, foundations and endowments, C-suite executives and entrepreneurs, individuals and families.
For more information on this topic please visit https://choreoadvisors.com/cpa-alliance/
Choreo, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration as an investment adviser does not imply a certain level of skill or training of the adviser or its representatives. The Choreo Partner Alliance Program is offered through Choreo Partner Alliance, LLC ("Choreo Partner Alliance"), a registered investment adviser with the U.S. Securities and Exchange Commission ("SEC"). Choreo Partner Alliance is an affiliate of Choreo, LLC, a registered investment adviser with the SEC. Registration as an investment adviser does not imply a certain level of skill or training of the adviser or its representatives.
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