The Truth About Private Equity and the Future of Accounting Firms

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@tomealey 3 ай бұрын

We (experts in health care admin) know what PE is doing in health care - lower quality, increased prices and caused bankruptcies.

@accountinginfluencers 3 ай бұрын

PE is taking over. Just recording another episode for a few weeks time on the deeper impact in all sectors. Healthcare hit hard as you say.

@rosterman95 3 ай бұрын

Try to spin it however you want, but selling to PE groups is just boomers and Gen Xers cashing out for retirement at the expense of future CPAs. Profit-share will be watered down, worker stress goes up from revenue growth and cost cutting being pushed harder than ever, work will get shipped offshore for the cheap labor in places like India because the decision makers don’t see what the work product looks like before their teams fix everything, and the already long weeks will just get longer as PE pushes firms to run leaner. What used to be an incredibly stable and rewarding career is slowly dying from the way partners have been running their firms the last 5-10 years and this is a push down the stairs. If I wanted to work 70-80 hour weeks in a toxic environment, I would’ve gone into investment banking. At least the pay is worth it there.

@accountinginfluencers 3 ай бұрын

It's like you have a crystal ball. Yes that's definitely what seems to be unfolding.

@Bored_7-m2w 3 ай бұрын

Pay at PE acquired firms are definitely lowest in the market.

@accountinginfluencers 3 ай бұрын

@Bored_7-m2w is that true? Do you have evidence?

@mickyosully4592 Ай бұрын

Facts.

@mickyosully4592 Ай бұрын

Would love to hear Tim’s opinion when he’s not the CEO of a PE backed firm 😂…

@accountinginfluencers Ай бұрын

I presume you think PE is ruining forms?

@Bored_7-m2w 3 ай бұрын

Accounting firms are not making the right investments in people. They are not interested in talented people, only in cogs to replace the ones that have retired. Companies like Pilot and blackline will evolve and disrupt the market.

@accountinginfluencers 3 ай бұрын

True. It seems the tech and the PE money are taking the human our of human resources!