Now more than ever, clients approaching the retirement red-zone want to consolidate their financial services with a single trusted advisor. They want a firm that has the ability to craft solutions for a wide spectrum of financial planning and tax issues.
Leaders of market-dominating CPA firms report that the Golden Age for the CPA profession, the period of high growth from 2002 through 2007, will not be repeated. Additional revenue sources must be sought to achieve profitable growth.
Periodic client review meetings give CPAs and financial advisors the opportunity to put all their tools to work. They’re a good way to reconnect with your clients after tax season and continue to build and strengthen the relationship you have with each other.
Results of the IPT's Elder Investment Fraud and Financial Exploitation Survey reveal that 84 percent of respondents who deal with investment fraud/financial exploitation of senior citizens agree that the problem is getting worse.
Creating top-of-mind awareness of the solutions your firm offers is an essential ingredient in the success of any wealth management firm. Consistent marketing of these solutions can be the key difference between a marginal wealth management firm and a hugely successful one.
Even in difficult times, your CPA firm demands profitable growth. You have to be able to find and implement a sustainable growth strategy that makes sense for your firm and your clients. When you first consider adding wealth management services to your practice, you might have many questions or doubts. Here are some reasons to move past those uncertainties.
There are many changes necessary to create and maintain a thriving, growing, profitable and premier wealth management firm. Defining the specific vision for your firm is the first step. But, once your firm formulates and articulates its vision, the firm leader must have the courage to make decisions and take action.
In this installment of Peer2Peer, four champion partners from thriving CPA firms share their success stories using 1st Global’s Sustainable Income Solutions™ (SIS) process and describe how it has changed the way they approach their clients.
An often overlooked part of marketing and growing your practice involves your physical office arrangement. The appearance of your office should set the client in the right frame of mind to engage you for additional services, including wealth management services.
Many CPAs think that they must market outside of their existing client base. However, within your existing base is usually enough tax, tax planning, and ultimately wealth management candidates, to effectively expand your practice for years.
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.
Most CPA firms start their financial advisory services with a basic model of access to financial and investment products and over time add specialization, complexity and integration to arrive at a wealth management model.
David Davis, champion partner of JY WeathCare, LLC, an accounting firm in San Jose, California, shares his firm’s progression into providing wealth management services to clients and the thought processes behind it.