Financial Planning and Tax Advisory Podcast Series

June 28, 2019

business meeting

Welcome to the Building a Financial Planning and Tax Advisory Business podcast series, where a panel of successful practitioners talk about how to formalize financial planning services, such as estate, retirement, risk management and investment planning.

 

Step 1: Why should I offer tax & financial planning advisory services?
4/19/19

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CPAs and financial planning have been around for over a century. Not because we’ve stayed the same, but because we evolve and adapt to finding new ways to better serve clients. You are forward-thinking and relationship-oriented professionals. These are exciting times that bring opportunities for you to lead the profession into the future with a focus on your clients’ needs. Andrea Millar and Susan Tillery discuss:

  • How client needs and expectations are evolving
  • What makes CPAs unique
  • How to continue providing the best service in times of change and uncertainty
  • What volunteer leaders and AICPA are doing to help

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Step 2: How do I get started
4/19/19

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In this episode, CPA financial planners share their experiences with building their tax and financial planning advisory businesses. Ted Sarenski, CPA/PFS interviews a panel of seasoned practitioners, who answer the questions:

  • What are the different ways to offer tax & financial planning services? Tax compliance or not? Investment advisory services or not?
  • Which business model is right for me?
  • How do I go about formalizing tax & financial planning services?
  • What are simple actions to take now?

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Step 3: What are the appropriate fees to charge?
4/26/19

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In this episode, CPA financial planners share how they set their client fees in their tax & financial planning advisory businesses and answer the questions:

  • What are the benefits of a fee-only hourly, project, and retainer business models?
  • What are the pros and cons of charging based on assets under management (AUM)?
  • What should you consider when setting your fee for service?
  • What are simple actions to take now?

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Step 4: How do I approach new client meetings & offer financial planning services to current tax clients?
5/3/19

Podomatic  |  iTunes

In this episode, CPA financial planners share how they approach new client meetings and how to offer planning services to tax clients and answer the questions:

  • How does taking a humanistic approach to tax planning benefit your clients?
  • How do you approach a tax compliance client to transition them into planning services?
  • What are simple actions to take now?

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Step 5: What is the best way to create deep relationships with clients?
5/17/19

Podomatic  |  iTunes

In this episode, CPA financial planners share how to deepen client relationships within their tax and financial planning advisory businesses and answer the questions:

  • How can you create an environment – physical or virtual and emotional – to develop deeper relationships with your clients?
  • How can you build trust and connection with your clients?
  • What questions can you ask to learn what is most important to your clients?
  • What are the key ingredients in listening?
  • What are simple actions to take now?

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Step 6: How do I decide between serving as the primary point of contact or as a hyperspecialist? The hyperspecialist. {Building a Tax & Financial Planning Advisory Business}
5/24/19

Podomatic  |  iTunes

CPAs and financial planning have been around for over a century. Not because we’ve stayed the same, but because we evolve and adapt to finding new ways to better serve clients. You are forward-thinking and relationship-oriented professionals. These are exciting times that bring opportunities for you to lead the profession into the future with a focus on your clients’ needs. CPA financial planners Lyle Benson, Brooke Salvini, and David Stolz share how they serve as the primary point of contact for their clients:

  • How to communicate your value as a CPA financial planner and that you offer planning & tax advisory services
  • How serving as a primary point of contact has impacted their clients’ lives
  • Working together with a team of professionals to serve the client’s best interest
  • Advice and resources for CPAs looking to serve as the primary point of contact

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Step 7: How do I structure staffing and work with other advisers? {Building a Tax & Financial Planning Advisory Business}
5/31/19

Podomatic  |  iTunes

In this episode, CPA financial planners share how to work with other advisers and professionals as part of the tax & financial planning team and answer the questions:

  • What is your role as the primary point of contact and how does that benefit your clients?
  • What are some effective strategies for working with other advisers who also put your clients’ interests first?
  • What are the challenges you might face in developing an adviser team? And how do you overcome them?

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Step 8: What do I need to know if I decide to offer investment advisory services? {Building a Tax & Financial Planning Advisory Business}
6/7/19

Podomatic  |   iTunes

In this episode, CPA financial planners share their experiences with choosing whether or not to provide investment advisory services as part of their tax and financial planning advisory businesses and answer the questions:

  • Do I have to provide investment advisory services to provide tax and planning advisory services to my clients?
  • What constitutes investment advice?
  • How do I know if I need to register to provide investment advisory services?
  • Where can I find information on compliance with investment adviser regulations?
  • What are simple actions to take now?

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Step 9: How do I maximize use of technology? {Building a Tax & Financial Planning Advisory Business}
6/7/19

Podomatic  |   iTunes

In this episode, CPA financial planners share how they chose various technology with building their tax and financial planning advisory businesses.

  • What are the essential software programs for a tax and planning advisory business?
  • How can you leverage the cloud and secure your clients’ information and safely share information?
  • What are some examples of software programs to use for tax and financial planning services as well as business and client management?
  • What are simple actions to take now?

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Step 10: What are the simple actions I can take now? {Building a Tax & Financial Planning Advisory Business}
6/28/19

Podomatic    |    iTunes

In this episode, recorded live at the AICPA ENGAGE pre-conference workshop – Building a Tax & Financial Planning Advisory Business – CPA financial planners shared helpful resources and simple action steps to take in building their tax and financial planning advisory businesses.

  • What are the key resources they have used that will help you in practice?
  • What deliverables do you provide to clients?
  • What types of engagement letters do you use for tax and PFP engagements?
  • What are simple actions you can take now?

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