The Value of Integrated Services in a Single Legal, Tax, Accounting and Business Advisory Partner

Allen Barron, Inc.

What is the value of an integrated legal, tax, accounting and business advisory services in a single source provider? The three primary benefits of these valuable business partners are:

  1. The ability to solve complex business challenges and issues in a timely, cost-efficient manner
  2. The skill to develop and implement associated operational changes within your organization in order to meet the challenges at hand and move forward, and
  3. Substantial savings both in terms of time and money

Generally speaking, when a corporation or sophisticated investor approaches a substantial challenge, the solution often requires the input of several business professionals such as a business attorney, estate planning professional, tax specialist, accountant and/or CPA, a certified financial professional and/or a business consultant.

The primary obstacle in this scenario is that each professional holds a piece of the puzzle but not a grasp of the overall solution. This is compounded by the fact that in many cases the individual perspectives of each of these professionals conflict with one another from the perspective of the client.

For example, the legal solution of adding a corporate entity recommended by the attorney may increase the exposure to higher business taxation based upon the structure of entities and the relationship of each entity to the whole.

The right solution is usually a blend of all areas of expertise. Who is left to referee and ultimately decide which recommendation to follow and from which service professional? Once a decision has been taken, how will the associated operational changes be integrated into existing corporate systems and procedures?

Insight. Integration. Innovation.

Look for a single source of integrated legal, tax, accounting and business advisory services to provide a solution to complex problems while reducing the time, cost and implementation challenges associated with many corporate and investment issues. This is especially true when there are international interests associated with the issue(s) at hand.

The Big Four integrated service providers from the late 20th century ultimately broke apart and many believe it was due to the high cost charged by these houses combined with unnecessary billable hours. They have largely been replaced by local integrated service providers who are not only more responsive and accessible, but they are also economically competitive. Your local integrated provider should have qualified experts in each disciplinary area without all the overhead and maneuverability issues associated with large firms with offices in multiple markets and management structures that are forced to meet substantial overhead requirements.

An Integrated legal, tax, accounting and business advisory service provider is able to provide genuine insight into the business challenge at hand, usually based upon decades of experience in similar business scenarios, investment structures or transactional planning. Integrated service providers offer a solution which accomplishes the client’s objectives while harmonizing the best aspects of integration from a legal, tax, accounting and business perspective.

It is not only important to solve the problem at hand. One must be prepared to implement the solution and associated changes across many departments within your company. Integrated service providers work with clients to develop comprehensive solutions to these challenges and implement appropriate resulting strategies and supporting changes throughout the corporate structure.

The innovation of integrated services spanning legal, tax, accounting and business counsel eliminates the headaches associated with attempting to understand the disparate inputs of multiple business professionals in order to divine some form of resolution to the opportunities or challenges at hand. This ultimately saves your company a substantial amount of time and money while arriving at the goal of resolved problems and implemented solutions.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Allen Barron, Inc. | Attorney Advertising

Written by:

Allen Barron, Inc.

Allen Barron, Inc. on:

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