In Episode 89 of the CPA Career Paths podcast, I had the pleasure of speaking with Favor Lee, a dynamic CPA whose career has spanned audit, business development, and now, tax growth strategy. Her journey is anything but traditional—and that’s exactly what makes it so inspiring.
Favor shares how she embraced change, navigated unfamiliar industries, and leaned into leadership and business development roles that shaped her career in ways she never expected.
🔎 Highlights and Takeaways
- Moved from audit into a strategic tax growth role with zero tax experience
- Learned to thrive in the highly regulated world of wealth management
- Believes in embracing change and “being the change”
- Actively volunteers with the AICPA and chairs the Women’s Global Leadership Summit
- Advocates for soft skills and business development as must-haves for CPAs
Embracing Career Pivots
After spending years in audit and business development at EisnerAmper, Favor took a leap into a completely different industry—wealth management. With no prior tax experience, she became Director of Tax Growth at Lido Advisors.
“Naive me thinking, oh, accounting, finance, wealth management… it should be similar. Well, guess what? It was very different.”
She quickly discovered that investment management and registered investment advisor (RIA) firms operate on a different compliance level than traditional CPA firms. Projects that should’ve taken weeks often stretched out due to SEC requirements—a crash course in patience and adaptability.
Shifting from Sales to Strategy
Favor’s role also evolved from direct business development to behind-the-scenes growth strategy.
“It’s more of strategy work now: growth initiatives, operational excellence, things that move the firm forward.”
This transition taught her the importance of being creative and agile, and she encourages others to not just adapt to change but drive it.
“If we want to grow X times, we’ve got to do something different.”
Giving Back to the Profession
Favor doesn’t just lead inside the firm—she also leads in the accounting profession. She’s the current chair for the AICPA Women’s Global Leadership Summit and regularly volunteers to help shape the future of the industry.
“The CPA world has given me so much. I owe it to the profession.”
Key Career Advice
Favor wrapped the episode with this golden advice:
- Master your technical foundation, but don’t ignore people skills.
- Volunteer and take on leadership roles early.
- Start building business development skills now.
- Stay connected with alumni, colleagues, and industry networks.
“You don’t want a relationship only when you need to sell.”
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