Merging Financial Services: A Wave of the Future?

The city of Citrus Heights, CA is home to an innovative financial network of firms that continues to grow and offer a multitude of services to its clients.

Tax & Financial Professional Center, Inc. is way more than a CPA firm. The firm provides tax services to some 5,000 clients, but that's only the beginning. In addition to tax services, the firm provides accounting, mortgage, real estate, appraisal, advisory, insurance, business brokerage, and employee benefits administration services.

The firm also provides bookkeeping and payroll services, budget analysis, estate planning, business valuation, interim CEO services, fraud prevention and detection, forensic accounting, and lots more.

Tax & Financial Professional Center began as the brainchild of CPA and lead partner Bernard Bunning and has added many of its services by merging with or acquiring other firms. Providing a one-stop shopping selection for clients has proved successful. "The attraction is you can offer a single source solution that customers want," said Mr. Bunning.

Chief of operations, Chuck Hawking, commented that it is complicated to put together such an enterprise. The companies share cross-ownership. When a client comes in, they are guided to the company that can provide the appropriate service. "We see what the client needs, and we go out and find the solutions among all these disciplines," said Mr. Hawking.

John Arvinitis, president of Sunrise Vista Mortgage, one of the affiliated companies, summed it up: "This is the model of the future."

You may like these other stories...

While reputational risk is the No. 1 nonfinancial concern among corporate directors, cybersecurity/IT risk is gaining steam. In fact, both private companies and organizations with more than $1 billion in revenue felt they...
We've all been there. Trying to make our work-lives more efficient, transfer knowledge to newer team members, and leverage our practices. Sometimes it works, and sometimes, well, the result is embarrassing at best.Here...
From May 20-23, the Association for Accounting Marketing (AAM) held its annual conference. Frequent contributor Sally Glick picked up some ideas that she will be sharing with us in the coming days, as she has done in...

Upcoming CPE Webinars

Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.