“Advisory” has become the accounting industry’s version of activewear everyone’s wearing it, but not many are doing the actual heavy lifting.
The word gets tossed around like confetti. Anything that isn’t tax returns or financial statements? Sure, let’s just call it advisory and chuck it on the website.
But here’s the kicker: when everything is advisory, nothing really is.
Yes, most firms are “doing advisory” in some form – but the real question is:
- What kind of advisory are you delivering?
- Is it what you think it is? Or what your clients really want?
Let’s get real for a moment. Just because we call it advisory doesn’t mean it’s helpful. Or relevant. Or valuable. Calling something a rose doesn’t make it smell sweet.
If we’re going to have a genuine impact, the kind that changes businesses and lives – we need to unpack the messy blob that is “advisory” and sort it into something useful.
The Four Types of Advisory
Here it is. The four types of advisory I see across accounting firms, the good, the bad, and the transformative.
1. Unavoidable Advisory
The stuff that lands on your desk because someone else asked for it.
This is the kind of work driven by third parties:
- The bank needs cashflow forecasts.
- A client wants a set of interim figures to support a business sale.
- A finance broker is chasing you for a serviceability summary.
It’s reactive, ad hoc, and tied to a transaction. Sure, it’s valuable but it’s not strategic. It’s not proactive. And let’s be honest, it’s often a scramble.
It gets lumped in as advisory, but really, it’s survival.
2. Extended Compliance
Compliance with a cherry on top.
This includes all the value-adds we do that aren’t strictly required to lodge a return but improve tax outcomes, protect assets, or enable long-term planning.
- Setting up new structures.
- Tax planning sessions.
- Estate planning discussions.
It’s often technical, clever, and appreciated… but still mostly our idea, not the client’s.
It’s advisory, yes but it’s still rooted in the accountant’s world, not the client’s.
3. Reporting-Based Advisory
Looks like advisory. Smells like advisory. But does it stick?
Here’s where we see a lot of effort go unrewarded. These are services built around monthly or quarterly reports, AI-powered dashboards, or trend summaries.
There might even be regular meetings and automated commentary.
The intent is great. The execution? Often accountant-centric.
These services are usually sold from our frame of reference “Here’s what I think is important,” rather than, “Here’s what you told me matters.”
So what happens? Clients lose interest. After three or six months, they stop seeing the relevance. The service fades into the background, or gets cut altogether.Not because it’s bad but because it wasn’t anchored in what they actually want.
4. Business Improvement Advisory
Now we’re talking.
This is the real deal. The kind of advisory that drives change, opens up possibilities, and creates results clients didn’t know were possible.
This is the kind of work I’ve dedicated my career to helping accountants deliver and what I talk about in Accounting Revolution, my book on reshaping how we show up in our clients’ lives (and our own). It’s part roadmap, part wake-up call and it all starts with changing the way we think about “advisory”.
Business Improvement Advisory looks more like business mentoring or coaching, except it’s built on a structure your team can follow and deliver with confidence.
The magic of this work is that it starts with the client.
- Where are they now?
- Where do they want to go?
- What’s getting in the way?
- What do they really want (not just what they need)?
And here’s the key: it’s not about personality.
You don’t need to be some charismatic, 20-year veteran with a cupboard full of war stories to do this work. You need structure, process, and a willingness to listen deeply.With the right approach, anyone in your team can help clients move from where they are to where they want to be. Yes, even the junior who just stopped calling ASIC “Ay-sick”.
This Isn’t a Solo Sport
Firm owners, listen up.
If you want to deliver business improvement advisory, you don’t have to carry the whole thing on your back. Your team wants to step up. They want to make a difference. They’re just scared of getting it wrong.
That fear? Totally normal.
But the solution isn’t more experience, it’s more process.
When your team has a framework, clear steps, and tools to guide conversations, they can engage with clients in a way that feels safe, meaningful, and impactful. Advisory stops being something they fear and starts being something they’re proud of.
The truth is, your clients don’t need you to have all the answers. They need you to ask the right questions, hold the space, and help them see what’s possible.
So… What Advisory Are You Doing?
If you’re stuck in unavoidable advisory or circling the drain with extended compliance don’t panic. That’s the starting point.
But don’t let that be the finish line.
If you’re ready to create services your clients don’t just tolerate but rave about…
If you’re ready to build something your whole team can be part of…
If you’re ready to stop talking about advisory and start delivering the stuff that actually changes lives…
Then maybe it’s time to stop calling it a rose.
Maybe it’s time to grow a garden your clients can actually smell.
Want to Actually Do Something About It?
Let’s be real, the Accounting Revolution is a great book (and yes, you should absolutely buy it)… But who actually reads it all and implements it?
If you’re serious about moving forward, start with an Advisory Strategy Session.
This is where the shift begins. We’ll look at:
- What type of advisory you’re really delivering now
- Where the untapped opportunities lie
- How to build confidence in your team to step up
Book your advisory strategy session chat to schedule it in.
No pressure. No pushy pitch. Just a real conversation about the work that actually matters.