Building a Planning & Tax Advisory Business
This collection of information, tools and resources will help you start or grow your planning & tax advisory business to cover your clients' personal finance needs that are greater than ever before.
- Do you want to better serve your clients’ by proactively addressing their tax, estate, retirement, risk management and investment needs and being their go-to advisor?
- Is your firm challenged with how to effectively add or expand into personal financial planning or wealth management services?
- Do your partners not understand the value that adding these services can bring to your business?
- Are you concerned that you will lose some of your clients to a non-CPA financial planning firm that is adding tax planning & compliance to their service offering?
As you take the first steps – or even the next steps – in your journey to embrace the planning & tax advisory services approach, knowing why, what and how is the place to begin. Next? Technology and regulatory compliance are two key areas to explore. Access an array of resources to help you best serve your clients.
Just starting out?
- Start with why, what and how by accessing the Planning & Tax Advisory Services hub.
- Connect with other like-minded professionals through the mentoring program.
- Use the PFP Section member benefits (if you’re not a member, join us.).
- Technology for a Planning & Tax Advisory Services Business Toolkit
Are you looking for more? Email the PFP team at firstname.lastname@example.org to give us feedback on the technology support you need.
Regulatory & compliance
- The CPA’s Guide to Investment Advisory Business Models will help you determine when you have crossed the line and need to register as an investment adviser.
- Sample consent forms and guidance on Section 7216 will help you obtain the client’s explicit, written consent for the proper disclosure or use of tax return information.
Resources to help you serve your clients
- Five Golden Nuggets from the 2019 AICPA PFP Summit Retirement – in this article, Lyle Benson, CPA/PFS, shares top takeaways on managing and growing a financial planning practice shared at the 2019 PFP Summit.
- Broadridge Advisor will help you communicate with and educate clients.
- Your CPA Practice & Planning Toolkit provides resources, checklists and more.
- Sample engagement letters can be customized for clients when offering PFP services.
- Technical & practice guides will serve as a great reference for you in all areas of planning.
- PFP Learning Library provides access to timely and relevant webcasts, podcasts, and videos on technical and practice management topics
- Business Development Toolkits help CPAs and CPA/PFS with awareness.
- Building a Tax and Financial Planning Advisory Business is a 2-day in-person workshop that will give you access to a panel of CPAs who are successfully proving these services – registration coming soon!
More experienced or ready for the next level? You may find these additional resources to be helpful:
- Bob Veres Inside Information Newsletter Service (including Media Reviews and E-Columns)
- Annual personal financial planning Software Survey
- T3 Tech Hub from Joel Bruckenstein
- Quarterly PFP Trends Survey: Statistical data and insight from your peers on significant PFP trends to use for building and reinforcing your client and local media relationships.
You can gain competency in planning & tax advisory services by taking the pathway that best suits your knowledge and experience level.
- Just starting out? The PFP Certificate Programs cover planning topics from A-Z with tax integrated throughout (estate, retirement, investments, insurance, and practical applications).
- More experienced or ready for the next level? You may find these additional learning opportunities to be helpful:
Demonstrate your knowledge and expertise in tax, estate, retirement, risk management and/or investment planning with the CPA/PFS credential!
As a CPA and financial planner, you are licensed and regulated by your state board of accountancy. You work hard to protect your clients and serve them with their best interests at heart. Use these authoritative standards and guidance on professional responsibilities to serve all of your clients in a consistent manner. Communicate the rigor of these standards and ethical responsibilities to your clients.