The Leader in the Financial Analysis of Privately Held Companies

Blog

Sageworks Blog

Oct29

OCC outlines risk plan as Northeastern loan growth doubles

Multifamily, commercial and automotive loans are driving loan growth among banks in the Northeast, but increasing risk will draw fresh attention from regulators to ensure recent and future growth is sound, the Office of the Comptroller of the Currency said recently.      The OCC on Oct. 28 released a report detailing substantially improving conditions among OCC-regulated banks in its Northeastern District, defined as Connecticut, Delaware, the District of Columbia, eastern Kentucky, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and West Virginia.  While the target au... [More]

Oct28

Accountants win more clients doing these 3 things

Have you ever wondered why your accounting firm lost out on a recent engagement? A lot of accountants may assume that they lost a potential client because of pricing. Or it may seem as though a client is too stubborn to consider thoughtfully the benefits of receiving strategic advice or financial planning assistance. But the process of purchasing a service is often more complicated. A recent study by sales consulting firm RAIN Group has some valuable insight for accountants wondering what leads a customer to buy from one service provider and not another.

[More]

Oct27

Spotlight on lending: Preparing for Q3 bank reports

With the fourth quarter of 2014 well underway, both banks and credit unions are in the midst of reporting their results from the previous three months. While Q3 reports will trickle in over the coming days to meet the end of October deadline, a crucial piece of the puzzle the financial community and economists will be looking at is loan growth rates. [More]

Oct25

Top mistakes accountants are making with existing clients

Singer-songwriter Joni Mitchell was referring to environmental impacts when she sang, “Don’t it always seem to go/That you don’t know what you’ve got/Till it’s gone” in "Big Yellow Taxi." But chances are, many accountants have the same thought after a client leaves the practice – especially someone who was with the firm for several years.So what are the top mistakes that accountants are making when it comes to retaining clients? Here are a few, along with suggestions for preventing your firm from making them.

[More]

Oct24

Poll: 36% of finance professionals send clients to a third party for business valuation services

During a recent webinar on how to prepare for booming growth in the valuation industry, Sageworks polled over 135 finance professionals and found that more than 35% are sending their clients to a third party to complete a business valuation. [More]

Oct23

The importance of balancing loan portfolio growth and risk management

U.S. banks are seeing low loss rates on CRE and construction loans relative to the past six years. As a result, many are seeking growth in these areas, and others, as the recent financial crisis falls into the more distant past. But how can this growth be managed appropriately? [More]

Oct21

What is the FASB’s process for issuing standards?

The FASB continues to receive attention surrounding their proposed CECL model, as final guidance is expected to be released late 2014 or early 2015. With such a substantial capital change on the horizon, many banks wonder if the FASB truly understands the costs and benefits of the standards they set. Russell Golden, FASB chairman, recently explained the process. [More]

Oct20

Establishing a project management culture

Among the various characteristics that make up a company’s culture, one of the most important aspects often goes overlooked. Ancin Cooley, principal of Synergy Bank Consulting, Inc. states that a mix of value-based cultures is pivotal in the effective management of a bank. A sound project management culture, Cooley argues, should be in the forefront of financial professionals’ minds. In his article, Cooley defines a project management culture as one that focuses on the “application of knowledge, skills and techniques to execute projects effectively and efficiently.” Simply put, it is the mindset that turns thought and theory into positive results. Institutions tha... [More]

Oct18

How one accounting firm used ProfitCents to show clients the importance of value-added services

Nearly every firm has business clients who are interested in more services from their accountant. Almost two-thirds of clients are unaware of all services their accounting firm has to offer. Cross-selling value-added services will not only help you retain your current clients but also grow your business’s revenue. [More]

Oct17

4 Ways providing valuations can help your accounting practice

Valuation services is one area that holds tremendous opportunity for accountants as baby boomers retire and try to sell or pass on to relatives their businesses or other assets. Paul Wapner, CPA/ABV, CGMA, manager of forensic and valuation services for the AICPA, believes that there are numerous ways accountants can benefit by offering valuations.

[More]