Many people don’t realize they may need both a financial advisor or a CPA. These two professionals offer distinct services and address financial strategies differently. The typical financial advisor concentrates on helping clients manage their assets and determining investment and financial planning strategies. CPAs, on the other hand, focus on tax strategies and preparing tax returns.
While CPAs and financial advisors offer different services, these services complement one another. Working together, a CPA and financial advisor can address critical aspects of a client’s assets. Although the advisor can offer various investment and insurance options, the CPA can supplement these by structuring them to maximize the client’s tax benefits. The goal of this team approach is to provide clients the best of both worlds - financial guidance and tax planning weaved together.
Rather than having to work with two firms working separately, we can connect the two teams by working closely with CPAs and accounting firms and serving their clients. We offer a number of ways and levels of assistance from which the firms can choose. If the firm is not interested in offering insurance and securities, but wants to stay abreast of changes in the tax law, we offer consulting services, ranging from educational seminars to reference guides. This can not only help ensure that the client is receiving the best overall advice, but can also increase the involvement the CPA or accountant has with the client.
Some firms may be interested in building a more formal relationship with us beyond education. We can help their clients by making recommendations on financial planning strategies. This offers their clients the opportunity to receive advice from an experienced firm, while knowing that both firms are working together as trusted partners.
We can even help CPAs and accounting firms expand their practice and provide an integrated approach to tax strategies and financial planning. If a CPA obtains certain licenses related to the financial services industry, a relationship of this level can also function as a revenue source for the CPA and accounting firm.
We support all of our CPA and accounting relationships regardless of the level with educational seminars, marketing support, advisor reference guides, consultative services, retirement design services, and more.
Learn more about the CPA Advantage here.