Springline Advisory with Tim Brackney | E358

Digital transformation in the CPA world.

In this episode of Fintech Impact, host Jason Pereira interviews Tim Brackney, CEO of Springline Advisory, about their innovative approach to scaling mid-market advisory and accounting firms through the implementation of advanced technology and strategic acquisitions. The discussion covers SpringLine's inception, their private equity backing, and how they help firms transition from a localized operation to an enterprise-level structure, allowing them to focus more on their core competencies. Brackney also explains how the company's business model gives these firms a competitive edge in a large yet underserved market. The episode emphasizes the importance of maintaining the essence of the founding firm while leveraging technological advancements to facilitate organizational growth.

Episode Highlights:

  • 00:10: Jason Pereira introduces Tim Brackney, CEO of Springline Advisory, discussing the company’s role in helping mid-market advisory firms scale through technology.

  • 00:35: Tim Brackney expresses excitement about the opportunity Springline presents for firms unable to achieve scale on their own.

  • 00:37: Brackney gives an overview of Springline's history and goals.

  • 01:01: The origin of Springline is discussed, emphasizing the company's role in merging the "old guard" with new technology.

  • 01:35: Discussion on the market opportunity and fragmentation in the accounting and advisory industry.

  • 02:28: Challenges faced by mid-market firms when scaling are explored.

  • 03:35: Jason and Brackney discuss the challenges of scaling and the necessary structural changes involved.

  • 04:27: Discussion on when firms typically start conversations about joining SpringLine.

  • 04:57: Firms entering Springline already have some level of professional management.

  • 05:34: The complexities of scaling from mid-market to enterprise are discussed.

  • 06:42: Brackney elaborates on the timing of firm conversations with Springline.

  • 07:30: Discussion of the challenges in hiring the right tech talent for mid-market accounting firms.

  • 08:12: The criteria for choosing firms to join Springline are explained.

  • 08:43: Emojis in merging firms and handling transitions were discussed.

  • 10:34: Lawyers' adjustments and benefits after joining Springline.

  • 10:48: Discussion on changes in firms’ growth ability post-acquisition.

  • 12:19: The venture-backed aspect of the business model is outlined.

  • 13:30: Conversation about structuring deals that include equity.

  • 14:34: Discussion on the tools and foundation set for Springline's success.

  • 15:34: Various stages of firm development and adaptation are discussed.

  • 16:29: The value of being an early adopter is outlined.

  • 16:59: Potential size and growth strategy for Springline are explored.

  • 18:24: Competitive advantages in the market are discussed.

  • 18:53: Vision for long-term growth within the mid-market sector.

  • 19:23: The Pitch and how SpringLine provides an alternative to climbing the entrepreneurial ladder.

  • 19:58: The importance of maintaining client relationships while scaling is discussed.

  • 20:06: Current technology roadmap plans for Springline illustrate innovation goals.

  • 21:31: Brackney voices a wish for more talent retention in the industry.

  • 22:51: The challenge of distinguishing their model amidst various private equity approaches is mentioned.

  • 23:41: Brackney expresses excitement about their mission and the journey of building something impactful in the industry.

  • 24:08: The episode wraps, highlighting the importance of ensuring advisory and accounting firms can scale effectively within the industry.

Key Points:

  • Springline Advisory is committed to helping mid-market firms scale effectively through technology and strategic acquisitions.

  • The company focuses on maintaining strong client relationships while enabling firms to grow with the support of expert management and tech solutions.

  • Being able to leverage a venture-backed platform provides firms the opportunity to focus on their strengths without losing control over their core practices.

  • The model places significant emphasis on merger integration, professional management, and technological advancement to solve complex problems efficiently.

  • Springline’s unique approach offers a viable path for mid-market firms to remain competitive and achieve sustainable growth.

Tweetable Quotes:

  • "Springline is about scale plus soul, allowing firms to grow without losing their identity."

  • "Mid-market firms face unique challenges that require innovative solutions to overcome scaling barriers."

  • "Our mission is to help firms focus on what made them successful while we support them in reaching new heights."

  • "We are finding and keeping talent by making our firms an irresistible place to work."

  • "In this venture-backed model, the goal is to build a big small firm with boutique relationships and large firm capabilities."

Resources Mentioned:

Fintech ImpactJason PereiraFintech