Your advisory roadmap: A practical action guide for identifying client advisory opportunities

Advisory opportunities are often hiding in plain sight. The challenge is not finding them. It’s recognizing when a routine client question is really a signal that a client needs deeper guidance. As advisory demand continues to grow, firms that consistently identify and act on these moments can strengthen client relationships while creating new revenue opportunities.

Use this practical, fillable checklist to help turn everyday conversations into meaningful advisory engagements.

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Step 1: Identify the opportunity behind the question

Client conversation checklist

Step 2: Explore the underlying need

Step 3: Define the next action

Quick self-assessment

Turn client insights into your roadmap to advisory success

Step 1: Identify the opportunity behind the question

When a client reaches out, listen for clues that they may be facing a larger business, tax, or financial decision. The goal of this first step is to recognize whether there’s a potential advisory opportunity behind the immediate question.

Client conversation checklist

What did the client say or what do they appear to be thinking about?

□ Business growth or expansion
□ Tax savings or planning opportunities
□ Hiring, staffing, or compensation decisions
□ Cash flow or profitability concerns
□ Technology, process, or operational challenges
□ Retirement or succession planning
□ Another strategic issue:

Listen for statements like:

□ “I’m considering…”
□ “I’m not sure if…”
□ “What would happen if…”
□ “Can I afford to…”
□ “Should I…”
□ “What’s the best way to…”
□ Other:

What might this signal?

□ A significant business or financial decision is being evaluated
□ The client may need proactive planning rather than a compliance answer
□ Multiple options or tradeoffs may exist
□ Additional expertise or analysis may create value

Ask yourself: Is there a larger discussion behind this question?

□ Is this a compliance question or a business decision?
□ Does the answer require deeper analysis?
□ Could proactive planning create additional value?
□ Would a dedicated advisory conversation better serve this client?

Potential advisory opportunity identified:

Once you’ve identified a potential advisory signal, the next step is to understand the client’s underlying goals and the factors influencing their decision.

Step 2: Explore the underlying need

Before providing a quick answer, take a step back and evaluate the bigger picture. Clients often ask tactical questions when they’re actually trying to solve a broader business challenge.

Discovery checklist

□ What decision is the client actually trying to make?
□ What outcome are they hoping to achieve?
□ What risks should be considered before moving forward?
□ What opportunities may not be immediately visible?
□ What information is missing that would help inform the decision?
□ Are there tax, financial, operational, or succession implications to explore?
□ Have I clearly defined what falls within the current scope of work?

Key need or objective uncovered:

After clarifying the client’s goals and gathering the information needed to evaluate their options, the next step is turning those insights into a clear path forward.

Step 3: Define the next action

Once you’ve identified the opportunity and explored the client’s underlying needs, create a structured plan for moving the conversation forward.

□ Schedule a dedicated strategy conversation
□ Document the client’s goals, concerns, and desired outcomes
□ Quantify potential tax, financial, or operational impacts
□ Develop recommended next steps
□ Present a clearly defined advisory proposal
□ Establish ongoing touchpoints to review progress

Follow-up discussion scheduled: □ Yes □ No

Recommended timing for follow-up:

Key client objective:

Quick self-assessment

Consistently tracking these outcomes can help firms understand where advisory opportunities are advancing through the process and where conversations may be stalling. Use this simple assessment to measure progress and identify areas for improvement.

Over the last 30 days:
• How many client conversations revealed a potential advisory opportunity?
• How many resulted in a dedicated advisory discussion?
• How many became a paid advisory engagement?

One action I’ll take this month to improve advisory conversations:

Looking for additional guidance on building advisory services across your firm?

Watch the advisory webinar, Advisory for Everyone, to learn practical strategies for creating more advisory conversations and expanding client value.

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Turn client insights into your roadmap to advisory success

Many firms know advisory services are important, but creating a repeatable process for identifying opportunities can be difficult. Research shows clients increasingly want advisory support, and firms that have embraced advisory services continue to see strong growth. Thomson Reuters Practice Forward provides firms with a structured approach to transforming client relationships, implementing advisory-focused processes, and developing the skills needed to deliver higher-value services with confidence.

Ready to make advisory opportunities easier to spot? Thomson Reuters Ready to Advise helps firms identify relevant advisory strategies from client tax return data, uncover planning opportunities, and create client-ready recommendations so valuable conversations don’t end with a quick answer.