It can result in a firmwide multiplier effect.
By Russ Alan Prince
Accounting firms are professional services firms. Many accounting firms have expanded into other areas. One of those areas is wealth management. When wealth management is part of a well thought out accounting firm’s strategy, it can be instrumental in delivering greater value to clients. An elite wealth management practice can also be core to generating substantially greater revenues for the firm.
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An elite wealth management practice – as opposed to a traditional wealth management practice – results in a firmwide multiplier effect. Most importantly, it can be central to optimizing clients’ financial lives. Your elite wealth management practice will also contribute significant revenues – directly and indirectly – to the accounting firm.
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