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.
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.
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.
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.
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.
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.
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.
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.
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.
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.