Fee structure

Firms that rely on the old-fashioned billable hour are in the minority compared to fixed fee, value pricing and other models.

A majority of accounting firms say they are changing their messaging around pricing as clients increasingly question their cost models in the age of AI efficiencies.

Paul Griggs, CEO of PwC, said they plan to adjust billing model to factor in AI, potentially without even a human professional in the loop, and added that if any humans have a problem with it they have no place in this firm.

Steve Lockshin and Michael Kitces tied what they view as some mistaken assumptions around fees to the competitive need for more estate planning services.