By Paul Bailey.
At a recent growth conference, I was struck by a recurring theme that dominated nearly every session and conversation: the influx of outside investment into the accounting and professional services industry.
The message was loud and clear — if you’re not taking on external capital, you’re falling behind and risk becoming obsolete.
While I see outside investment flooding the industry, I’m left wondering, “how is that impacting clients?” And what I found most concerning was that so little of the conversation centered on this most critical question. Instead, the focus was on firm valuations, acquisition strategies, investor returns, and “taking chips off the table” for owners. Attendees were celebrating growth, but almost exclusively in the context of mergers and acquisitions and outside investment. Lost in the shuffle was organic growth through impeccable client service.
At CLA, we’ve made a conscious decision to chart a different course. Organic growth that comes from deepening relationships, expanding services, and delivering exceptional value is a core part of our growth strategy. And our independent partnership model is designed to serve the heartbeat of the country — our clients. These are the entrepreneurs, family businesses, nonprofits, and local governments that power the American economy. They don’t need a firm that’s beholden to outside investors. They need a partner who understands their world, who’s in it for the long haul, and who can bring the full weight of a seamlessly integrated team to help them thrive.
In my role as Chief Growth Officer, my mind is always on the clients. As I reflect on what I heard at this conference, I can’t help but think the fleeting sugar high of outside investment can be tempting, but it’s just not worth the crash.
I have grown up in this business and have seen numerous business models work and fail – sometimes the same models! Success and failure depend on many factors, including your talent, the leaders running the business, your growth plan, the industries you serve and so much more. As Chief Growth Officer for CLA, I know this: there is never a quick or easy path to growth.
At CLA, we believe in a different kind of growth — one that’s sustainable, client-focused, and rooted in the strength of our people and our partnership model. While the appeal of rapid expansion through outside capital is understandable, it often comes with trade-offs that can erode the very foundation of what makes a firm great: its people, its culture, its independence, and its commitment to clients.
This is what we call our “seamless” approach. It means aligning all our capabilities in a way that’s tailored to each client’s unique needs. It means investing in our people, our technology, and our communities — not to boost a quarterly return, but to build enduring relationships and deliver lasting impact. And it’s working.
Our growth is strong, our culture is vibrant, and our clients are thriving. We’re not chasing headlines—we’re building a partnership.
We know we are not alone in this thinking. Across the country, there are firms that share our values — firms that are committed to independence, to excellence, and to putting clients first. Because at the end of the day, the real measure of success isn’t how much capital you’ve raised. It’s how much value you’ve created — for your clients, your people, and your communities.
===
Paul Baily is the Chief Growth Officer, CLA (CliftonLarsonAllen LLP)
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
