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What is Advisory

Randy Johnston and Brian Tankersley discuss Thompson Reuters' advisory services products, Ready to Advise and Practice Forward. They emphasize the importance of advisory services, categorizing them into primary (tax, business planning), secondary (business valuation, M&A), and tertiary (niche services). They highlight the need for structured frameworks to build trust and leverage expertise. Brian notes the growing interest among young professionals in advisory roles. They also address AI's role in accounting, stressing the importance of data privacy and ethical use. The conversation concludes with the benefits of using platforms like Practice Forward and Ready to Advise for standardizing and scaling advisory services. (Disclosure: Paid partnership with Thomson Reuters.)