Alex Drost: Firms Must Be Scrappy to Compete with PE-Backed Competitors | Gear Up For Growth

As private equity gains momentum in the accounting industry, firms face a decision: embrace external investment or double down on independence.Gear Up for GrowthWith Jean CaragherFor CPA TrendlinesIn a recent episode of the Gear Up for Growth podcast, Alex Drost, managing principal of Connection Builders, discusses the growing interest of private equity (PE) in the accounting sector. Hosted by Jean Caragher, president of Capstone Marketing, the conversation delves into the driving forces behind PE investments, the challenges faced by both investors and accounting firms, and how firms can prepare for the evolving landscape.Full show notes here | Gear Up for Growth spotlights the best strategies for smart and effective growth in today's competitive landscape. More Gear Up for Growth every Friday here.|  More Capstone Conversations with Jean Caragher every Monday | More Jean Caragher here | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here | More The CPA Trendlines broadcast channel The accounting profession is no stranger to change, but according to Drost, recent shifts are reshaping the industry more dramatically than ever before. “We’re seeing changes not just in technology but in the makeup of the profession itself,” he says. “The aging partner base and different generational approaches to firm ownership are creating gaps that private equity sees as opportunities.”