Why Clients are Lost

Posted on 06. Nov, 2005 by in Accounting

While perusing the world-wide web today I came across an article that outlined reasons clients leave their accountants accountants. This made me start to think of reasons why I would leave my accountant and I came up with the following list:

  1. Lack of initiative
  2. Their investment track record is worse than mine
  3. Lack of timely communication
  4. Personality doesn’t fit my needs
  5. Hire a friend

I also did a little poking around and found an interesting article on the AICPA website outlining a Rockefeller Corporation study of why clients are lost. The results are:

  1. Believes you don’t care 68%
  2. Is dissatisfied with service 14%
  3. Hires a competitor 9%
  4. Hires a friend to provide service 5%
  5. Moves away 3%
  6. Dies 1%

Ronald J. Baker also lists a number of reasons clients leave their accounting firm:

  1. Doesn’t treat me right
  2. Ignores me
  3. Fails to cooperate
  4. Lets partner contact lapse
  5. Doesn’t keep me informed
  6. Assumes I am a technician
  7. Uses me as a training ground for new team members

Combining all these list together it appears as though the top reason for leaving an accountant/accounting firm is the genuine that your accountant cares. Take a minute and think about your own clients and how you might better serve them through genuine acts of kindness and care. Give them a phonecall and ask how they’re doing – don’t wait for them to call with the latest tax or investment question. Call and let them know about new IRS pronouncements or great new investment opportunities. Take a proactive approach in dealing with your clients and I doubt any of them will leave you citing “he/she doesn’t treat me right” as their reason.

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