Wealth management news

Wealth management

Five Imperatives for Success on the Road to Wealth Management

There is an underlying pattern of philosophical, professional, and personal traits that are essential for every firm’s success in the area of providing wealth management services.
Education & Careers

Seven Tips to Successful Introductions

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.
Wealth management

CPA + Wealth Management Services = Best of Both Worlds

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.
Wealth management

What Client Services Do Wealth Management Firms Provide?

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.
A&A

Enhancing Your Clients' Experiences

What does the Ritz-Carlton do, that other hotels don't, that makes your stay with them such a memorable experience? The hotel chain has instilled a culture of treating guests like royalty.
Wealth management

1st Global BMS Model: Marrying Wealth Management Services and CPA Services by Adopting a New Way of Doing Business

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.
Wealth management

Opportunities to Serve

Many new CPA wealth management advisors, accustomed to tax deadlines driving business, view marketing on par with snake oil hucksters and plaid-coated used auto dealers. But what separates truly communicating your value from a “sales pitch” is this: the truth of your statement, the strength of your conviction and the intention behind each to benefit others.
Wealth management

Wealth Management: What’s in it for You and Why is it Important to Your Firm?

True wealth management firms help their clients with three macro issues: wealth accumulation, wealth protection and distribution and wealth transfer. The spotlight on wealth management is a result of increasing demand from clients, especially baby boomers, for customized personal services.
Wealth management

How Not Providing Wealth Management Services to Clients May Be a Disservice to Them

Chris Boynton, champion partner of Arxis Financial Inc., an accounting firm in Simi Valley, California, shares his firm’s progression into providing wealth management services to his clients and his thought processes behind it.
Wealth management

Why Should You Commit Your Firm to a Program of Change that Expands your Wealth Management Practice?

To address this question in a meaningful way, we need to take a long-term and broad perspective. First, your firm is probably experiencing a rush of activity, new business and revenue and profits growth. Sarbanes-Oxley has proven a boon to the profession.
Wealth management

Creating an Advisory Council Composed of Your Best Clients

Think about the last time someone asked you for your opinion or your input because they value your insight and perspective? Weren’t you somewhat flattered that they reached out to you for advice?
Wealth management

The Path From CPA Firm to Comprehensive Wealth Management: 1st Global BMS Business Model

Peter W. Adams, champion partner of HPG Financial Services, LLC, an accounting firm in Raleigh N.C., shares his firm’s progression into providing wealth management services to his clients and his thought processes behind it.
Wealth management

The Optimal Path for Accounting Firms Pursuing Wealth Management Services through Strategic Partnership: A CPA’s Perspective

Robin Matthews, CPA, director of financial advisors at Jones & Roth, CPAs and Business Consultants in Oregon, discusses how Jones & Roth integrated education and marketing tools to leverage their skills to efficiently provide wealth management services to their clients.
Wealth management

Today vs. Ideal Future: Closing the Gap

Annual business planning typically involves looking at your business and comparing where you are to where you want to be. The strength of your vision for where you want to be is also known as your goal. Your goal is restrained only by the courage and reach of your imagination. The gap between today and goal is the subject of this article.
Wealth management

What Is Old Is New Again

In September of 2008, our industry experienced the anxiety ridden crisis in what historians generally now refer to as “Lehman weekend,”, which began one of the most difficult tests of our financial advisory careers. It was a capital market event of epic proportions that led to our current economic state.
Wealth management

At the Controls

As a recent flight prepared to take off, the captain spoke over the loudspeakers, “Ladies and gentlemen, we are all set to take off but I'm afraid we are being delayed by technical problems.” Immediate concerns popped to mind first about how safe the flight would be and if I'd ever see my family again, then irritation at perhaps being late for the afternoon appointment that was the reason for the flight.
Wealth management

Filling the Void

The financial services crisis of 2008-2009 resulted in the loss of more than a thousand financial advisors and dozens of traditional financial services firms, and it caused tremendous turmoil in the remaining survivors. How do you fill that void given the many constraints facing the typical ensemble (multi-partner) CPA firm today?
Wealth management

The Evolution of a CPA Firm into a Wealth Management Firm: A CPA's Perspective

Jeff Neher, champion partner of CNC Financial Group, LLC, an affiliate of Cordell, Neher & Company, a premier accounting firm in Wenatchee, WA, discusses the firm’s evolution into a client-centric wealth management firm.
Wealth management

Where Will Growth Be 2011-2015: Wealthcare vs. Accounting & Tax Preparation?

The purpose of this article is to inform, even possibly awaken, readers to the comparative growth prospects of the wealthcare industry and the combined accounting and tax preparation services industries.
Wealth management

Opportunities Created by 2011-2012 Federal Estate Tax Patch

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (The Tax Relief Act, or TRA) introduced a number of changes in the area of federal gift, estate, and generation-skipping transfer taxes among other items. These changes can have a significant impact on certain high-net-worth families. At the same time, they provide a great opportunity for advisors to discuss with clients their estate plans and help close the gaps where needed.

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