18 Feb The Reasons To Change Your Accountant May Surprise You
Unless you are really good with numbers and actually enjoy trying to decipher the complicated tax code, then you may want to outsource any accounting needs. But putting someone in charge of your money is tantamount to putting someone in charge of your future. There needs to be a level of trust there, or else you could find yourself in hot water and without your life’s savings. Beyond the looming threat of mismanagement or theft, there are several other reasons to change your accountant.
The first big indicator that you should shake things up is when the accountant does not explain their ideas. They either assume you won’t understand, which is very rude and condescending, or they don’t think you deserve to know, which is even worse. You may not understand all the financial lingo, but it is an advisor’s job to explain them to you so you do get it. Your money should never be invested or managed without you understanding exactly what is going on.
If they act arrogant, as if they are an expert and know better than you, then you should tell them to take a hike. These arrogant individuals will often begin managing your dollars as if they know better than you, which is a definite red flag. Never trust someone who does not listen to you and disregards your feelings.
If they always say no to any suggestions, this is another bad sign. It is their job not only to listen to you but also to say yes to what you want. Sure, they may suggest something else, but unless you actually agree to it, then it should not be implemented.
If they are a bad or infrequent communicator, then maybe it is time to look elsewhere. While you may not want an accountant to be on the phone with you every single day, they should definitely be in touch with some kind of regular schedule or frequency. Simply getting a card at the holidays or a year-end call to give you an update is not enough. Make sure they know how frequently you expect updates.
They don’t seem to grasp what you want or seem overwhelmed with work. Some accountants take on far too many clients and end up not giving each account the right amount of attention. This may be because they are new and have not yet grasped the job, or because they see you merely as a profit machine and are not concerned with service.
Finally, if you do not feel a connection with them, then it is time to move on. You do not have to be best friends with the accountant, and you should actually keep the relationship purely professional. However, you should feel a connection, as if they understand you and have a good perspective.
If you experience just one of these, it may not be time to make a change. But if you experience multiple issues or you just feel bad about the situation, it may be time to shake things up. Of course, you could simply talk to them about these feelings. It may be that they did not know how much communication or input you want or need, and they can adjust. If they cannot or are simply not willing to adjust, then you should definitely start looking for a new accountant.