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There are a multitude of personal financial planning business models you can implement. The one you choose is what works best for you, your practice and your clients. A panel of successful practitioners in the most common business models in the CPA profession will share how they built their practice to provide the highest value for clients while also running a successful business. This session will cover the following topics:
Getting started with learning more about you (polling questions)
The PFP opportunity
Introduction of the panelists
The benefits, challenges, and best practices of the various business models — helping you identify the best structure for your practice and clients
The economics behind getting this service off the ground and what to expect in terms of revenue along the way
How they charge for these services and compensate partners and staff
How they converted tax clients into PFP clients
The psychological side of providing these services
How and why they chose their investment business model and how they successfully implemented their strategy
How to seamlessly integrate the CPA and RIA sides of the business
How they manage resource needs, including staffing and outside experts
Options for gaining help from 3rd
parties (RIA firms, and other advisors) to assist in your efforts
Increasing the value of your practice by adding financial planning - succession plan/future sale/buyer’s view
Growing your business through marketing
Holding effective virtual client meetings
Reflection time for participants
Learning Objectives:
Identify the benefits, challenges, and best practices of the various business models.
Recognize the benefits of adding PFP services to your practice and how you can do this.
Choose which business models and ways of doing business resonate most for you.