There are many reasons that CPAs provide wealth management solutions for their clients: clients want their CPAs to be involved, stronger client relationships, higher profitability, and construction of an enterprise-building business model. But there is another very compelling reason that has resulted from the financial crisis of 2008-2009: A vacuum has developed in the financial services marketplace that CPAs are very well-positioned to fill.
David Strother, Financial Services Director of DSF Wealth Management LLC, an affiliate of Darnall, Sikes, Gardes & Frederick, a corporation of CPAs in Lafayette, LA, discusses his history as a financial advisor working with a respected CPA firm.
Although the two-year extension of Bush-era tax cuts will keep tax rates unchanged, tax-efficient investment portfolio construction and the utilization of tax-efficient strategies will have a more significant effect on the net after-tax income and wealth your clients can ultimately pass on to the next generation.
by gailperry on May 24, 2011
As CPA wealth managers know, the foundation of a holistic financial plan requires tax-optimized planning. Although tax planning incorporates traditional tax reduction strategies, such as use of IRAs, 401(k)s and tax-free investments, the real power of tax planning comes in the utilization of tax reduction tools inherent in direct participation programs (DPPs).
by gailperry on May 23, 2011
Harold "Skip" Briggs, partner and managing director of Bentley Wealth Advisors, LLC, a registered investment adviser and tax-centric wealth management firm that is partnered with DiSanto, Priest & Co., and Wealth Management Solutions in Rhode Island, was recently interviewed about his wealth management practice and what he is doing to help his clients retire with dignity.
by gailperry on May 23, 2011
If it desires, the CPA profession can rapidly become the dominant provider of comprehensive high-profit wealth management and financial planning services in the U.S. to the 15 million American households who comprise two significant market segment classifications—the emerging affluent and affluent families, or roughly 12 percent of the 120 million American households that make up more than 75 percent of America’s financial wealth.
by AccountingWeb on May 03, 2011
A new report from the Deloitte Center for Financial Services suggests the total wealth among millionaire households could more than double over the next decade in 25 major economies, growing from an estimated $92 trillion this year to $202 trillion in 2020.
Upcoming CPE Webinars
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.
Many Excel users have a love-hate relationship with workbook links. For the uninitiated, workbook links allow you to connect one Microsoft Excel spreadsheet to other spreadsheets, Word documents, databases, and even web pages.