Asking clients for feedback during these uncertain economic times can help to maintain strong, trust-based relationships with clients.
“Using a well-structured feedback tool to understand what clients need in a relationship with their advisors helps the advisor to do two things,” says industry expert Julie Littlechild, president of Advisor Impact Inc. “It can help identify opportunities to add value to the client relationship, as well as build stronger referral relationships with centers of influence, such as accountants and lawyers.”
Littlechild identifies tactics that can be used to leverage client feedback in two ways – reinforcing existing relationships and attracting new strategic partners.
Three Tips to Reinforce Existing Relationships:Â Â Â Â READ MORE →
No wonder they call it busy season!
Here’s a quick list of the new wrinkles tax professionals are confronting this filing season, from PPC’s Jim Reeves.
How many of these are you ready for?
- Revised Form 990;
- Estate tax legislation;
- Federal income tax legislation as a significant component of the economic stimulus package;
- AMT scheduled to affect 33 million taxpayers in 2010;
- Over 30 tax provisions scheduled to expire in 2009;
- President Obama’s campaign promises of tax increases on individuals with income exceeding $250,000, creating a potential marginal tax rate exceeding 60% when you consider:
- A marginal income tax rate of 39.6%,
- A 20% tax rate on long-term capital gains and dividends,
- A combined employee and employer Social Security tax raised by 2%-4% for families (not individuals) earning over $250,000,
- A return of the phase out levels for itemized deductions and personal exemptions back to their levels under President Clinton, and
- State income taxes for most Americans;
- Congressional attack on the current 401(k) system;
- Tax aspects of bankruptcy, liquidations, debt restructuring;
- Many state budgets facing shortfalls; and
- New preparer penalty rules that raised the stakes for tax return preparers and advisors
h/t PPC’s Jim Reeves
Some good advice for CPAs dealing with the stock market crash.
Bruckenstein
by Rick Telberg/At Large
Gripped by the uncertainty and fear that comes with a stock-market crash and deepening recession, clients and individuals are turning to CPAs for guidance and answers.
CPAs across the nation, in public and in private practice, are responding with calm, with competence and with integrity. But who advises the advisors? Who do CPAs turn to when they need answers and guidance?
One of the places where CPAs go for direction is Joel P. Bruckenstein, CFP. As a financial services technology consultant, Bruckenstein counsels advisors on practice management issues. READ MORE →
FREE DOWNLOAD: Genworth Financial’s Reg 7216 client consent sample forms, here:Â Word doc.
Thinking about a new job offer? Think again, and apply these Toip 5 signs.
Look for Top 5 signs a business is failing (a company you do not want to work for):
1. Weak credibility in the industry
2. A credit record that raises eyebrows
3. Being a brand-new business
4. A revolving door of employees
5. A tiny little voice that says don’t do it
Then think about the Top 5 signs a business is surviving and thriving:
1. Proof the company’s management team is committed to long-term success
2. “Top 5″ ranking in your area
3. Good market demand for what they do
4. Good money mojo
5. A business that makes your toes tingle
h/t Tom Hood
New deals for technology consultants who resell Sage MAS 90/200 ERP, Sage Accpac ERP, Microsoft Dynamics GP, and QuickBooks Enterprise, Pro, and Premier Editions. More: SpeedTax
The big get bigger and the not-so-big, well…
Expect the pace of M&A activity to accelerate in 2009 – at least among the regional and super-regional firms.
Among single-owner and sole practitioner firms, meanwhile, expect the pace of transactions (and prices) to hold steady.
Per Allan Koltin, quoted by Richard Stolz at WebCPA.
