How Accounting Firms Become Family Offices

These days many accounting services are considered commodities; there are more competitors vying for the same business with no discernible difference between offerings and consistent downward pressure on fees in order to attract new revenue. Simultaneously, many clients, especially those with significant personal wealth, are demanding a higher level of service from their providers. This combination of factors means the accounting field is facing some critical dilemmas that can impact the long-term sustainability and profitability of its core relationships and business lines.

http://www.forbes.com/sites/russalanprince/2014/09/02/how-accounting-firms-become-family-offices/