Topic: PFP

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Who Needs New Clients when You Already Have Plenty Who Want More from You?

Why you shouldn’t ask, “How are firms getting new clients these days?”

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Is the Accounting Profession Headed for the Ash Heap of History?

One reason why firms can’t ignore wealthcare. No, not if it can outgrow rudimentary compliance services and seize new opportunities in personal financial planning, says Tony Batman, chairman and CEO of 1st Global, which provides investment management capabilities to CPA firms.

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Your Small Business Clients Are Changing: Radical Shift in Retirement Plans

Many expect to work ’til 70 and never retire, others hope to sell. The nation’s small business owners’ views regarding retirement are radically shifting, with many seeing themselves working 20 years or longer – or never formally retiring at all. As a result of longer life expectancies and the impact of the recession, the majority of small business owners can no longer embrace a traditional view of retirement, in which individuals stop working in their mid-60s for a life of leisure – something fewer than 10 percent foresee themselves doing, according to a new study by The Guardian Life Small Business Research Institute.

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The 25 Essential Capabilities for a World-Class CPA Wealthcare Business

You can’t do it alone. Too many CPA firms fail to adequately understand the broad range of services required to properly service their high-net-worth personal financial planning clients, according to a longtime leader in the field. “I have long been struck by the notion that most CPA-centric wealthcare firms do not have high-definition TV clarity about the capabilities they must provide,” says Tony Batman, chairman and CEO of 1st Global, a broker/dealer supporting about 500 CPA firms in wealth management. Batman offers a one-page “matrix,” showing “the 25 essential financial planning and wealth management capabilities” required in today’s competitive marketplace. “The matrix also reinforces the undebatable fact that it is impossible to internalize all of these capabilities within the CPA […]

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Three Tax Strategies for the Financial Planning Elite

Oft-overlooked by CPAs, these ideas can set you apart as a personal financial adviser. By Al Prentice 1st Global As CPA wealth managers know, the foundation of a holistic financial plan requires tax-optimized planning.

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CPAs Poised to Capture Huge Financial Services Markets

Despite CPAs’ huge advantages, why do they own only one-tenth of 1% of the business? The CPA profession could — if it mobilizes on the opportunity — quickly become the dominant provider of comprehensive high-profit wealth management and financial planning services to two sweet spots in the market, according to Tony Batman, chairman and CEO of 1st Global, a broker-dealer for CPA firms. Some 15 million American households make up two significant market segment classifications—the emerging affluent and affluent families, or roughly 12 percent of the 120 million American households that comprise more than 75 percent of America’s financial wealth, Batman writes at AccountingWeb. These households are loosely defined as those families that either currently own or have the high […]

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Do’s and Don’ts for Success in Wealth Management Services

Today, DSF is one of the largest wealth management advisors in the field. But success didn’t come easy, or fast.

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Recession Bumps Off ‘Mass Affluent’

$200,000 per year doesn’t cut it anymore. The established notion of “mass affluence” is getting pushed aside by a new study that redefines the spending power of the truly and the up-and-coming affluent as the “Class Affluent” and the “Emerging Affluent.” KEY FINDINGS:

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