Shane Lukas explains why he believes accountants shouldn’t be advisors
“There. I said it.
For decades, we’ve pushed accountants to become “business advisors.” I’ve done it myself.
But I was wrong.
Here’s why:
Tax advice? Yes – that’s your expertise.
Corporate structure? Absolutely – you’re qualified.
General business strategy? That’s where you’re exposed.
When you “advise,” you own the outcome. What if the client follows your advice to expand and fails? You’re liable. Your PI insurance might not even cover it.
Plus, let’s be honest – clients don’t see you as business gurus. They see you as number experts.
If accountants shouldn’t be advisors, what should they do instead?
So here’s the controversial bit:
Stop trying to be an advisor. Start being a coach.
What’s the difference?
- Advisor says: “You should increase prices by 10%.”
- Coach asks: “What would need to be true for a price increase to work?”
- Advisor says: “Expand into Manchester.”
- Coach explores: “Which markets could deliver the growth you’re seeking?”
See the difference? No liability. No pretending to know everything. Just powerful conversations using your numerical insights.
I watched an accountant this week transform a client’s business with three questions about their gross margin. The client discovered the solution themselves. They implemented it enthusiastically. Profits up 40%.
That accountant didn’t need to be a marketing expert or operations guru. They just needed to understand numbers and ask the right questions.
Here’s my challenge to every accountant reading this:
Stop feeling inferior because you’re “just an accountant.” Your ability to read the story in the numbers is a superpower. Combine it with coaching skills and you become irreplaceable.
Am I wrong? Is “advisory” still the holy grail? Or is it time we admitted that coaching is what clients actually need?”
How to start coaching instead of advising
Shane and the team at AVN have developed a new training programme for accountants who want to develop their coaching skills. The Profit Improvement Coach certificate gives you a practical framework to coach your clients to better profits and a better life. You get the confidence to move beyond the numbers and offer your clients so much more.
Find out more – Profit Improvement Coach.