You've spent years developing your next generation of partners, but what happens when they don't want to lead, can't secure financing, or simply aren't the right fit to take over?
In this episode, our Ontario Market Leader Darryl Boyd, reveals why so many multi-partner firms are discovering that their "default" internal succession plan isn't working, and why external sales often deliver better outcomes for everyone involved.
Over his decade with Poe Group Advisors, Darryl has helped the Canadian M&A landscape transform from earnout-heavy transactions to all-cash deals that prioritize fit over spreadsheets.
We explore the uncomfortable truth about internal succession: technical excellence doesn't equal business leadership, and the partner who's great at client work may have zero interest or aptitude for running the firm.
The conversation highlights that:
- Why exhausted accounting firm owners often just need better systems, not an exit strategy
- How private equity is slowly earning trust in Canada, and why most CPA firm sellers still choose CPA buyers
- The hidden assumptions killing Accounting M&A deals (like the "25% client loss" myth with zero data behind it)
- Why the best transactions happen when both parties forget about price and focus on whether the handoff will actually work
We also tackle the massive variability across firms that makes a cookie-cutter valuation worthless: profitability, owner workload, geographic markets, and cultural dynamics all impact valuation more than sellers realize. Whether you're a multi-partner firm wrestling with succession, a solo tax practitioner planning your exit, or a buyer trying to understand what sellers really care about, this episode will challenge your assumptions about how accounting practice transitions actually work.
Link to full listing: https://poegroupadvisors.com/practice/sc2038/
Firm Highlights:
- Young, energetic owner committed to staying 10+ years to run and grow the firm.
- Selling 70–100% equity, with plans to offer key employees an ownership stake.
- 3+ CPAs on staff and over 20 employees.
- High-net-worth clients with strong loyalty and consistent referrals.
- 78% of services tied to business clients.
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