Back on Track

Headnote

Local firms pitch personal touch, add services to fuel growth

Orange County's locally based accounting firms have been bolstering their new-business pitches with consulting services, but the industry's return to a growth track appears likely to be incremental and largely tied to existing clients.

"No one that I talk to believes that the good old days of 2006 and 2007 are going to be repeated in 2013 and 2014," said Bob Wright, managing partner for Irvine-based Wright Ford Young & Co. "We're going to experience a much slower ease back."

The biggest driver of new business for Wright Ford Young has been referrals from existing clients. The firm has also focused on building awareness for value-added services such as due diligence work, corporate structuring and advisory work.

"In a perfect world, clients know what you do," Wright said. "But you have to really educate your client. You have to let them know that we do more than just prepare tax returns and financial statements. A client doesn't always think of their CPA as their due diligence team or their advisor."

Key Advantage

Most of Wright Ford Young and Co.'s clients are companies in the $150 million to $200 million range that are owned by entrepreneurs.

"That size of a business is great for us," Wright said. "They don't want to talk to a...