Published July 22, 2026
Accounting and advisory firms are leaving revenue at risk because they lack a disciplined approach to understanding their clients, according to a new McorpCX report commissioned by HLB, the global network of independent accounting and advisory firms.
The report, Stopping Revenue Leakage, combines data from the XOS Pulse client experience maturity assessment with interviews conducted across the HLB network. It examines how professional services firms gather client feedback, turn insight into action and connect client experience to retention and growth.
While most firms are strongly committed to delivering high-quality service, far fewer have structured client listening systems capable of identifying financial risk and commercial opportunity.
Revenue leakage occurs when clients move advisory work elsewhere, question the value of fees, or fail to consider their existing firm for additional services. In many cases, firms do not recognize these risks until the revenue has already disappeared.
The research found that professional services firms have an average customer experience maturity score of 57.9 out of 100 on the XOS Pulse scale, compared with a global cross-industry average of 62.5. Their average score for client understanding is lower still, at 50.6.
The report identifies gaps in several critical capabilities, including client journey mapping, data integration, insight generation, market segmentation and formal client listening systems.
It also outlines how firms can turn systematic client insight into commercial action, helping them protect existing revenue, strengthen pricing confidence and uncover growth opportunities within current client relationships.
“Most firms have some way of tracking client satisfaction, but far fewer have a disciplined system in place to understand whether the experience is actually contributing to retention, referrals, pricing confidence and additional work,” said Lesley Hornung, Chief Marketing Officer of HLB.
“This report challenges leaders to rethink client listening and consider it not just as a feedback program, but as a strategic growth capability that helps uncover hidden opportunities, prevent revenue leakage and create stronger, more valuable client relationships.”
Michael Hinshaw, President of McorpCX, said client listening must extend beyond measuring satisfaction.
“Client listening is not about collecting better satisfaction scores. It is about understanding what clients value, where revenue is at risk and where the next opportunity may be hiding.
“Firms that turn those insights into action will be better positioned to retain clients, defend fees, grow advisory work and stand apart in an increasingly competitive market.”
About HLB
HLB International is a global network of independent advisory and accounting firms. Through the power of 51,948 professionals across 155 countries, we combine local expertise and global capabilities to service clients' needs. Learn more about HLB’s global services and capabilities at www.hlb.global.
HLB refers to the HLB International network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.hlb.global/legal for further details.
About McorpCX
McorpCX is an independent, people-first consultancy that helps organizations compete and grow by making customer and employee experience real, measurable, and operational at scale. Recognized by independent industry analysts as a leader in experience strategy and improvement, we leverage the best-practice-based Experience Operating System (XOS™) framework to help growth, mid-market, and Fortune 500 organizations achieve experience-led business results.
For more information, visit www.mcorpcx.com.
