Author: John J. Fenton, MBA, CEO
This article originally appeared in the Fall 2025 issue of the South Carolina CPA Report
If you’re leading a CPA firm in South Carolina — or anywhere in the country — you don’t need me to tell you how much the profession is changing. You feel it every day.
What worked ten years ago no longer works today. Compliance services are becoming commoditized. Clients expect more insights and guidance. Talent is harder to keep than ever. And on top of that, new technologies and private equity are reshaping the entire landscape.
It’s no wonder so many leaders feel like they’re running on fumes. Let me ask you a blunt question: are you running your firm, or is it running you?
Over the past several years, I’ve worked closely with CEOs and managing partners, and I’ve seen several core pain points rise to the surface time and again. These aren’t minor frustrations — they’re the big issues that determine whether a firm survives, thrives, or falls behind. Let’s unpack them, honestly, and talk about what you can do as a leader to address them.
1. Talent Retention and Burnout
The number one issue I hear from leaders is this: “We can’t keep our people.”
Burnout is everywhere, especially among younger professionals. Some are leaving the firm for industry jobs. Others are walking away from the profession altogether. And when your best talent feels undervalued or overwhelmed, they have plenty of options.
What can you do?
- Shift from measuring hours to measuring impact. People want to know their work matters.
- Offer flexibility. Hybrid schedules, compressed workweeks, and respect for personal time are no longer perks — they’re expectations.
- Create visible growth paths. Top talent needs to see a future, not just a grind.
- Build a culture of appreciation. Recognition, mentorship, and purpose go further than you think.
Retention isn’t about throwing money at the problem. It’s about building a firm where people feel they belong and can grow.
2. Adapting to AI and Technology Shifts
AI isn’t coming. It’s here. And it’s already changing how firms operate.
But many leaders feel stuck between two fears: the fear of being left behind, and the fear of making the wrong investment.
The key is to view technology not as a threat, but as a tool that frees your people from repetitive work so they can focus on higher-value advisory.
Here’s where to start:
- Pilot one tool that reduces routine tasks — don’t try to overhaul everything at once.
- Frame technology adoption as part of your strategic vision, not a one-off project.
- Position tech as an enabler of human leadership, not a replacement for it.
When used well, AI and automation give your firm the space to grow into what clients are really asking for: a trusted advisor who helps them move forward.
3. Navigating M&A and Private Equity Pressures
Private equity is reshaping the profession at a pace we’ve never seen before. Mergers are everywhere. Some leaders see opportunity. Others feel trapped. The danger isn’t just in the deal — it’s in what comes after. Culture, values, and identity can easily get lost if you’re not clear on who you are and what you stand for.
Here’s my counsel:
- Anchor to your “Why.” If the deal doesn’t align with your purpose and values, think twice.
- Protect your culture. Numbers may get you to the table, but culture determines success after the fact.
- Don’t go at it alone. Surround yourself with trusted advisors who can help you evaluate high-stakes decisions with a clear head.
Private equity isn’t inherently good or bad. But it should serve your strategy — not the other way around.
4. Building a Sustainable Advisory Model
Every leader I talk with agrees: advisory services are the future. Compliance revenue will only take you so far. The challenge is moving from talk to execution. The transition isn’t easy. It requires a cultural shift inside the firm and a mindset shift with clients. But it can be done, one step at a time.
Practical steps include:
- Reframe your firm’s purpose. Move from “we do audits and tax returns” to “we help clients achieve results.”
- Upskill a pilot group. Train a handful of people in consultative skills and let them lead the charge.
- Launch one clear, fixed-fee advisory package. Prove it works, refine it, and scale from there.
- Protect time. Advisory won’t grow if it’s always squeezed in around compliance.
- Show value in the client’s language. Don’t talk about technical processes — talk about cash flow, growth, profitability, and peace of mind.
The firms that get serious about advisory now will own the future of the profession.
5. Leadership Overload and Lack of Clarity
Finally, let’s talk about the pain point closest to home: leadership overload.
Many managing partners and CEOs are running from meeting to meeting, putting out fires, and trying to keep everyone happy. It’s exhausting, and it robs you of clarity.
The problem is, when you’re scattered, your team feels scattered. And when you lack clarity, your firm drifts.
So how do you fight back?
- Reclaim your calendar. Delegate or eliminate what only you don’t have to do.
- Simplify your strategy. Focus on three core priorities per year and let go of the rest.
- Empower your people. Don’t absorb every decision — ask for their solutions instead.
- Protect your energy. Renewal isn’t optional. Take time off, recharge, and model healthy leadership.
Clarity isn’t a luxury. It’s your job.
Your firm depends on it.
The Path Forward
When I step back and look at these five areas of frustration, here’s what I see:
- Firms that create strong, people-centered cultures will win the talent war.
- Firms that embrace technology wisely will stay ahead of the curve.
- Firms that approach M&A with clarity will preserve their identity and purpose.
- Firms that commit to advisory will remain relevant and profitable.
- And firms whose leaders step out of overload and into clarity will set the pace for everyone else.
The future of the profession doesn’t belong to the biggest firms or the loudest voices. It belongs to the leaders who are willing to face these challenges head-on — and lead with courage, clarity, and purpose.
If these challenges resonate with you, you’re not alone. My work with CEOs and managing partners of CPA firms is about helping leaders cut through the noise, regain clarity, and build firms that are ready for the future. If you’re ready to move from overload to focus — and from frustration to momentum — let’s connect.
