CPA + Wealth Management Services = Best of Both Worlds

 
In this installment of Peer2Peer, champion partners of CPA firms from across the country reveal what they feel are the benefits to offering wealth management services to their clients as well as partnering with a leading growth consultant for CPA firms to do it.
 
1. What has been your firm’s perspective on offering wealth management services to your tax clients?  
 
“We feel that combining financial services in with a strong tax practice is just a natural. And it has been. When we tell our clients that they can come to us to get answers in a wide variety of areas, there is a sense of relief that they can go to one advisor and get a lot of these things done in one place,” said David Walther, Purk Advisors, LLC, St. Louis, Mo.
 
“Offering wealth management services allows us to look at the whole picture where we couldn’t before. In our position, with the client and the trust we’ve developed between us, there’s no reason we shouldn’t be the advisor for that person. If we have the knowledge, the expertise and the time, which we do, to advise those clients to the same high level that we expect for ourselves, than it’s the right thing to do for them and the success of our practice,” said Luke Funk, Christen Souers Financial Services, LLC, Fort Wayne, Ind. “We don’t look at it anymore from an accounting versus financial services difference; we look at it as being one complete firm,” he added.
 
“The CPA industry itself has a very high reputation. So, people expect that same high level of integrity, service and attention to detail in our financial services that we give our CPA practice. I think it is the best of both worlds,” said Greg Grooms, Davis-Monk Financial Group, Gainesville, Fla.
 
2. What have you enjoyed the most about offering wealth management services? 
 
“I used to comment to my clients that they were in our tax firm because they had to be: it’s January, February or March. But, since offering wealth management services, our clients are calling in because they want to meet with us,” said Luke Funk, Christen Souers Financial Services, LLC, Fort Wayne, Ind.
 
“In my office, I have a desk and a small, round table. The thing I enjoy most about my job now is sitting around the small, round table with my clients and talking about their situations. It’s so much more fun working with clients prospectively and planning with them their futures, and those of their families, than just signing tax returns for a living," said David Walther, Purk Advisors, LLC, Saint Louis, Mo.
 
3. Why did your firm choose to partner with 1st Global in providing wealth management services?  
 
“Tax and tax planning is a very intricate part of wealth management, and the ability to merge, or marry the two, is very important. Since 1st Global works solely with CPA firms and law firms to offer comprehensive wealth management services, it’s able to give us tax planning and total wealth management planning all capsulated in one firm,” said Rick Garner, DGN Wealthcare Advisors, LLC, Traverse City, Mich. “Plus, 1st Global educates us in developing and creating in-depth and broad based client relationship on the planning side of it,” he said.
 
“I was always a tax guy, and always prided myself on being a good tax guy. Other broker/dealers I have used, or have talked to, didn’t get that fact that we’re CPAs and CPAs are a little different. So the fact that 1st Global has the knowledge of how CPAs work, and how we should be supported, goes a long way,” said David Walther, Purk Advisors, LLC, St. Louis, Mo.
 
“My clients know that I am working hand-in-hand with a team of professionals at 1st Global who support my efforts. I think that only adds to the credibility that I have engendered them,” said Kive Strickoff, Strickoff Financial Services, LLC, Garden City, N.Y.
 
For more information about offering wealth management services as a CPA firm and how strategic business partnerships with accomplished partners can impact your growth plans, contact 1st Global at (800) 959-8461 or LearnMore@1stGlobal.com.
 
This article and its content have been provided by 1st Global. With more than 450 firms affiliated with 1st Global, it is one of the largest wealth management services partners for the tax, accounting and legal professions. 1st Global delivers the required capabilities essential for wealth management excellence including progressive ongoing education, which places the firm in a unique position to offer wealth management knowledge.
 
1st Global was founded by CPAs on the belief that accounting, tax and estate planning firms are uniquely qualified to provide comprehensive wealth management services to their clients. Each affiliated firm is provided with education, technology, business-building framework and client solutions that make these firms leaders in their professions through dedicated professional client relationships built around wealth management.
 
1st Global Capital Corp. is a member of FINRA and SIPC and is headquartered at 8150 N. Central Expressway, Suite 500 in Dallas, Texas,
75206, (214) 265-1201. Additional information about 1st Global is available via the Internet at www.1stGlobal.com.

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In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
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