Today all recognized provincial and national Canadian accounting organizations are unified under the CPA designation. There are over 210,000 members in Canada and internationally who hold the Canadian CPA designation.
Over the five years to 2017, an expanding Canadian economy, in addition to an increasingly complex regulatory and tax structure, has bolstered demand for the Accounting Services industry in Canada. As a result, industry revenue is expected to rise over the five-year period. Industry growth has been propelled by an increase in the total number of Canadian businesses. Over the past five years, this diversity of services has helped provide a steady stream of revenue. Over the five years to 2022, industry revenue is projected to continue to grow, underpinned by anticipated growth in the total number of Canadian businesses and the expansion of multinational companies into Canada.
- Annual Revenue: $12 billion
- Annual Growth 2012-2017: 1.8%
- Number of Employees: 71,391
- Number of Businesses: 26,689
The three Accounting Firm business models: Simple Advisory, Compliance Advisory and Complex advisory
The simple advisory model
The simple advisory business model has emerged and gained prominence in the last ten years. Firms choosing this business model appreciate the benefits of technology and are aware that the majority of their clients need more than compliance work. They need services like cash flow forecasting, budgeting and planning at reasonable prices, which requires both automation and accounting insights. An important precondition is that clients have their core accounting information well organized and available online.
They achieve improved practice performance by providing modern accounting technology and offering services that establish regular, ongoing engagement between clients and accounting staff. Firms that choose this business model often pride themselves on offering a superior client experience easily and efficiently using the latest technology.
The compliance model
The compliance business model, firms focus on helping clients meet their compliance obligations on time, accurately and efficiently. Firms choosing this business model appreciate being able to deliver a highly repeatable set of services that are firmly rooted in the laws and regulations set out by governing agencies.
They achieve improved practice performance through incremental gains in process efficiency and by accumulating knowledge on compliance requirements and their application to different types of small businesses.
The complex advisory model
The complex advisory business model is common in larger, well-established, firms and boutique advisory businesses that have earned a reputation for being exceptional at navigating businesses through the intricacies of business transactions or complex multijurisdictional regulations. Firms choosing this business model appreciate and invest in experienced, wise advisors. Those advisors can be called on when needed by anyone within their broad client base when unusual or complex challenges arise.
They achieve improved practice performance by developing streamlined processes and market reputations. This ensures a steady flow of complex, interesting and often closely related cases where clients value and rely on deep accounting specializations. Firms that choose this business model know that finding, nurturing and retaining expert accountants is the key to their firm’s success.
To provide as a strategic partner to the Canadian accounting industry best in class highly diversified tax compliant insurance based investment solutions and financial planning strategies for their clients that offer, capital growth, access to capital and long term financial stability within the practice itself, the ownership, stakeholders and its employees.
Giving you the freedom to add a further dimension to your accounting practice.
To be the very best insurance investment and financial strategy planning resource for the accounting industry in the Canadian market that exceeds accountant client investor expectations while providing peace of mind, stability, trustworthy advice and support on the long term that you can count on.
Who We Are
RFG serves very specific sensitive markets that demand a thorough knowledge and understanding as to financial priorities and offer the deepest level of service and experience needed to achieve financial goals.
RFG stress free expert advice in the insurance investment and financial planning industry is not a typical company that sells insurance policies, but provides tax compliant innovative solutions that exceed and meet very specific demands and requirements that are driven by the accountants clients best interests and needs in mind
Our philosophy is very straight forward, we look not to our own interest but the interest of who we provide expertise to.
Our Product / Service Diversity
Very few insurance investment and financial planning organizations in today’s market are as diverse as Royale Financial Group. The overall advantage that RFG possesses, is their imitate knowledge of every insurance company and its offerings. We also are known for customizable tax compliant solutions that are very effective. With that competitive edge we can provide competently solutions that deliver important comparative analysis enabling Accounting companies and their clients a more educated approach which enables one to make an informed and sound decision. The accountant client has access immediately to legal, (specialized accounting if required), technology and industry market knowledge under one umbrella. The accountants client through the RFG partnership puts both the accountant and his or her clients in a position of strength where everyone wins.
Another major advantage, we provide trusted advisors that work closely with accountants that have significant market knowledge of the insurance investment and financial planning industry that will review and assess propositions along with the accountants client at no cost We do the overall propositional solution leg work for serious consideration, the accountant assesses and determines the financial, economic, capital and tax benefits, the accountant’s client makes the decisions, we work with the accountant in the best interest of his or her client. A true partnership that delivers.
Our Insurance Investment Solutions Advantage Plus Program is a well proven highly valuable financial strategy for accountants clients that provides the highest level of confidentially, ways to access capital through insurance investing, provide dividend income returns, significant tax reductions, personal direct banking management process that enables you greater control of your revenue and bottom line and we are just touching the surface.
As a very specialized company addressing specific sensitive markets, our diversity and knowledge in this highly volatile market provides the accountants clients a significant advantage now and in the future. Preservation, Protection, Planning of one’s current and future business revenue will determine the best insurance and financial planning solutions.
Note to Accountants if your clients are as follows:
Own their business, are a partner or shareholder of the business, Royale Financial Group Inc can provide timely insurance investment vehicles and financial planning strategies
that are considered the best in the industry.