Practice Excellence: Coalesco is a community

Community togetherness
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We see Coalesco as a community. We have so many clients that know one another now that didn’t know one another, that do business together,” Coalesco’s founder Linda Frier says, describing the firm’s mission statement. “Being part of other people’s businesses is such a fantastic feeling.”

From Frier’s warm personality, to the way she enthuses about her clients, it’s easy to see how she has built strong client relations. Her nurturing approach helped Coalesco achieve Practice Excellence success – winning the 2015 small practice of the year.

When Frier first started, she trained with one of the Big Eight, and through her time in industry, a path she continued along for nine years, she saw how large bus...

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About Richard Hattersley

Richard is AccountingWEB's practice correspondent. If you have any comments or suggestions for us get in touch.


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19th Apr 2016 12:45

Talk about the journey and NOT the destination

I would love read about the journey and not so much the destination. 

The pains and challenges any accountant goes  through or is going through. To achieve anything most of us go through ups and downs.  

A list of success and I did X and Y does not interest me. Though, I do not think middle aged men are your (Sift's) target market. 

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By Cleggy1
19th Apr 2016 18:49

2500 clients does not equal small

With a retention rate of 99.6 then if the 0.4 loss is just one client then they must have a client base of 2,500 - How did they win the small firm??

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19th Apr 2016 20:54

Decimal place

@Cleggy - Check you maths - 250 clients.

Easily done.

(what's worse is the person who 'thanked' your post!)

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20th Apr 2016 09:25

Thanks for your insights, First Tab

We'll take on board your suggestion to try and describe how firms like Coalesco go about refining their services in future Practice Excellence articles and try to dig deeper into the nitty gritty.

But I also think you overlook some of the ideas and pointers in the piece. Linda and Coalesco came to our attention thanks to some stunning achievements during 2014-15 and as a winner of the Practice Excellence Award for small firms last year, we tried to get her perspective on the things the firm does to make clients happy and get such a high retention rate.

If you look closely at what the article says, there are some interesting ideas you could take from Coalesco and experiment with in your firm:

Treating your client base as a community and using seminars and social media to encourage them to network togetherClient education and seminars to help them manage their businesses better, keep up to date on regulatory and technology developments - and mingle with Coalesco staff and other clientsFocusing on team attitudes and personalities as the key to good service.

We'll make a point of looking into some of these areas in future articles in this series.

And finally a point about the Practice Excellence Awards and AccountingWEB's membership... we are a very broad community with members of all ages in different roles with different interests. Our intention is to cater as far as possible for as many disparate groups as we can - including middle aged male practitioners, who make up a sizeable chunk of our membership.

By focusing on articles of interest to different types of accountant, we hope to deepen our understanding of AccountingWEB members and to encourage them to share and learn ideas from each other. That's one of the fundamental principles behind AccountingWEB and the Practice Excellence programme.

Feel free to keep the feedback coming - we'll always listen and stop to think about what we can learn from what members tell us too.

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