Advisory Around the World: What CPAs Can Learn from the U.S., U.K., and Australia
Advisory services are no longer a side note in the accounting profession — they are quickly becoming the main story. Across the globe, firms are shifting from transactional compliance to holistic, client-centred planning. Whether you look at the United States, the United Kingdom, or Australia, the trend is clear: clients want coordinated advice that connects tax, business, wealth, and personal planning.
For Canadian CPA firms, understanding these global patterns is more than interesting reading. It offers a glimpse into where the profession is heading — and how the Integrated Advisory™ model can help you stay ahead.
United States: Advisory as the Growth Engine
In the U.S., Client Advisory Services (CAS) have become the fastest-growing service line. According to CPA.com’s 2024 CAS Benchmark Survey, firms offering CAS reported a 17 percent median growth rate, far outpacing overall firm growth. These firms expect advisory revenues to nearly double in the next three years.
What’s driving this? Technology has streamlined compliance work, freeing CPAs to focus on insights and forward-looking planning. Many CAS practices are moving beyond dashboards into scenario planning, forecasting, and CFO-style advisory, helping clients make strategic decisions about growth, financing, and risk.
For Canadian firms, the U.S. experience underscores that advisory isn’t just “nice to have.” It’s a scalable growth engine, creating recurring revenues, higher margins, and stickier client relationships.
United Kingdom: Bridging the Advice Gap
Across the Atlantic, the U.K. faces a different challenge: access to advice. Despite growing client needs, there are fewer independent advisory firms than a decade ago, and consolidation has left many families underserved. The Financial Conduct Authority’s (FCA) Consumer Duty now sets higher standards for clarity, suitability, and measurable outcomes, nudging firms toward more joined-up planning.
At the same time, studies such as the lang cat’s Advice Gap research highlight that many clients still cannot access holistic advice. This creates a clear opening for accounting firms. Mid-tier U.K. practices are already expanding into risk, ESG, and broader consulting alongside audit and tax, according to the ICAEW.
The lesson here for Canadian CPAs is simple: Integrated Advisory™ is more than a differentiator — it’s a compliance-aligned way to demonstrate value. Discovery meetings, coordinated planning, and transparent communication not only meet client needs, they align with evolving regulatory expectations for clearer outcomes.
Australia: Meeting Demand in a Tight Market
Australia’s experience may feel particularly relevant to Canada. After the Financial Services Royal Commission, adviser numbers dropped sharply, creating a nationwide advice shortage. Even as numbers begin to recover, the demand is far greater than supply — over 10 million Australians say they are open to financial advice, according to the Australian Financial Review.
In response, the government’s Quality of Advice Review and its Delivering Better Financial Outcomes reforms are focused on expanding access and reducing barriers. For CPA firms, this has translated into new opportunities to partner with licensed advisers on areas like retirement, superannuation, and estate planning.
With clients demanding coordinated planning and licensed advisers in short supply, CPAs are stepping into a natural role: leading discovery conversations, coordinating advice teams, and ensuring tax and business insights connect to broader wealth strategies.
What Canadian CPAs Can Take Away
While the details differ across the U.S., U.K., and Australia, three common threads stand out:
Advisory outpaces compliance. U.S. firms show that integrated services can deliver double-digit growth and long-term client stickiness.
Regulation reinforces integration. The U.K. and Australia are raising expectations for measurable client outcomes, rewarding firms that provide clarity and coordination.
Capacity gaps create opportunity. From adviser shortages in Australia to advice gaps in the U.K., clients are underserved. CPAs are uniquely positioned to fill that role by orchestrating holistic strategies.
For Canadian firms, the message is clear: the future of the profession is integrated. Clients don’t just want numbers — they want outcomes, confidence, and a team that works together on their behalf. Integrated Advisory™ offers the framework to deliver exactly that.
Moving Forward
Canadian CPAs already hold a privileged seat at the client’s table. By adopting Integrated Advisory™, you can leverage your position to lead holistic discovery meetings, coordinate with other professionals, and create unified, forward-looking plans.
Whether the inspiration comes from U.S. firms scaling CAS, U.K. firms aligning with Consumer Duty, or Australian firms filling the advice gap, the lesson is the same: collaboration is no longer optional. It is the new differentiator.
The firms that embrace it will not only grow — they will lead.
Disclaimer: This article is for informational purposes only and should not be taken as accounting, tax, or financial advice. Firms should consult with qualified professionals and consider applicable regulations before implementing new advisory models.
