The Golden Rule for M&A Integration: People First

CPA firms sometimes believe that M&A success comes when the deal closes. But that’s only the beginning. True M&A success is achieved through the results after closing, which is highly dependent on two key communities of people: clients and staff.

Neither the seller nor the buyer wants to see the deal generate retention risk to their good clients and team members. Here are a few priorities to ensure you keep people first.

Clients

1. Each partner from both firms should elevate their attention to their Top 20 clients (by fees charged). Check in with them to catch up on conditions and to make sure no one feels neglected. Document the conversation and set a follow-up.

   
   

2. Share success stories to highlight how top clients will benefit from the new partnership. Case studies and testimonials, if available, should be circulated.

   
   

3. Ask for client feedback to gauge satisfaction in achieving goals for the transaction. The first 90 days are vital to be in touch. Then, trail down over the next 90 days.

   
   

4. Schedule opportunities for firm leaders (both sides) to meet and mingle with prominent clients. All clients benefit from TLC, especially when it comes with time from higher-ups. Use the meetings as an opportunity to energize mutually beneficial networking.

Staff

1. Pair team members from both firms in a buddy system. Learnings about team members, skills, processes, and firm growth opportunities are especially critical to success, nurturing a one-firm reality.

   
   

2. Offer financial incentives to key staff members for retention. The first year will produce heavy lifting for people; encouraging them to stay with a special retention bonus will be beneficial.

   
   

3. Create a 90-day orientation process with the first 60 days prior to the effective date. The more comfortable and knowledgeable the team is with the software and procedures, the lower the anxiety and the better the transition. Video the training and information sessions so people can review in private. Tutorials will also be useful.

   
   

4. Maximize top management’s connectivity. The managing partners of both firms and the executive committee members must be highly involved in getting to know the players on both sides. Social events, breakout sessions, surprise mystery trips, and ice breakers go a long way.

The sooner both parties in a transaction focus on the people aspect of the deal and tailor their approach, the more likely the financial terms will be fruitful to all.

There are many more factors that drive successful M&A integration. We will continue to share insights. If you’ve been part of a merger—or are preparing for one—we’d love to hear from you. Use this summer to reflect, refine your approach, and help shape a stronger path forward.