Marcum LLP has embarked on a joint venture with motivational speaker Tony Robbins to offer CFO-like services to small and midsize businesses.

The New York-based accounting and advisory firm is partnering with Robbins, a business turnaround expert, on what they are calling the myPowerCFO system, a set of accounting, tax and advisory services for small and midsize companies.

The system is being offered only to participants in Robbins’ Business Mastery seminars in the U.S.

The annual subscription-based program combines a proprietary financial analysis tool with business advisory services from Marcum LLP to guide business owners and CEOs in identifying operating weaknesses, retaining more earnings and improving profitability.

“The myPowerCFO system offers a distinct solution to the glaring truism that 96 percent of all businesses fail within their first 10 years of operation,” Robbins said in a statement. “While entrepreneurs at large serve as artistic visionaries effectively providing extraordinary services and innovating cutting-edge products that they passionately bring to market, the challenge has always been successfully converting the accounting behind their innovation into financial intelligence and sustainable profits. What’s missing is often the information in real-time that would allow entrepreneurs to make the perceptive decisions that direct them precisely to the right tactic at the right time.”

Robbins said the system would assess and reveal cash leaks and inefficiencies within businesses, allowing businesses to understand their cash position and cash burn, and give them the steps to take control.

“The myPowerCFO system will show you where you’re leaving money on the table, and Marcum, as our CFO power analyst, will provide the ongoing expertise to advise you on how to grow your business with exponential profitability and sustainability,” he said.

“Marcum’s new partnership with Tony Robbins is a marriage of two organizations on a mission to help clients achieve business success,” said Marcum managing partner Jeffrey M. Weiner. “Tony’s reach into the entrepreneurial community and Marcum’s expertise in 360 degree accounting services are the perfect combination for companies in need of the value a CFO can provide without having to staff the full-time function.”

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