Are Your Clients Not Using You Enough?

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You may have clients that are really good at running their business, yet must allocate substantial time to manage their day-to-day finances. They’d likely pay a fee if someone explained the benefits and took it off their plate.

Look at it another way: Your accounting practice provides traditional tax and possibly advisory services. Your clients are thrilled with you, but who keeps an eye on the big picture for them?  It’s usually them and they probably consider it a chore. This is where you could come in, if they only knew you could help.

What Do You Know About Family Offices?

Seriously wealthy people often don’t look after their own day-to-day finances. They have people.  While they are buying companies or running their empires, the behind the scenes stuff is often handled a family office. 

Although this sounds like a small area off the family room in their house, it’s actually a team hired by the client to provide accounting, legal and financial services expertise that most normal people assemble and monitor in a casual manner.

Family offices are organized in four tiers, the top tranche handling the client’s investments, along with managing their hard assets like real estate. The family pays a flat monthly fee and receives monthly reports on activities. A key selling point is the fiduciary nature of the advice; sound familiar?

Let’s skip to Tier 3:  They offer investment advice, sell products and stay away from areas like real estate management. Here’s the most interesting point: Accounting firms are one of the typical providers at this level.

Is it Just a Fantasy?

Could you offer all or part of a family office’s services to some of your clients?  CPAs have historically been seen as fiduciaries.  What could you do for clients?

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About Bryce Sanders

Bryce Sanders

Bryce Sanders is president of Perceptive Business Solutions Inc. in New Hope, Pennsylvania. He provides high-net-worth client acquisition training for the financial services industry. His book, Captivating the Wealthy Investor, can be found on


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