With Rory Henry CFP®, BFA™
For CPA Trendlines
The Holistic Guide to Wealth Management
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Christine Nicholson is an award-winning U.K. business mentor, a Top 50 Woman in Accounting 2020 honoree, and a regular keynote speaker about succession and exit planning. Her latest book, SELL IT, helps entrepreneurs with the hardest part of their journey: leaving their business in the hands of others. |
How to guide them to success.
By Christine Nicholson
The Holistic Guide to Wealth Management
Have you ever thought about how many of your clients have a thriving business – one that’s been their driving passion and source of income for years? How many of them are starting to think about stepping away from the day-to-day responsibilities and passing on the reins? And how many do you believe are fully prepared for that transition? Not many, I suspect. This is where your role in exit planning comes into play.
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Exit planning is a strategy for business owners to transition their business successfully to new ownership or management. With a grasp of the business’s financials and years of insights from compliance services, accountants are perfectly positioned to engage business owners in many aspects of the exit process. You can help businesses prepare a comprehensive exit strategy, addressing all potential challenges and contingencies. Here’s how you can really make a difference.
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Bookkeeper360’s rise to 1,000 clients shows how workflow, AI, and remote talent—not individual effort—power modern CPA firm growth.
With Rory Henry CFP®, BFA™
For CPA Trendlines
When firms talk about innovation in accounting, they often start with technology. But in my conversation with Nick Pasquarosa, founder and CEO of Bookkeeper360, it became clear that technology was never the starting point for his firm. It was the result of listening closely to small business owners and building systems to solve their most persistent problems.
MORE Rory Henry and The Holistic Guide | BOLT: Bookkeeper360 Launches Mobile and Web App Featuring AI-Powered Virtual CFO
Pasquarosa founded Bookkeeper360 in 2012, long before cloud accounting was the norm. What began as a door-to-door side hustle helping local businesses reconcile their checking accounts evolved into a nationwide cloud accounting firm serving nearly 1,000 small business clients with a team of more than 75 professionals across 26 states.
“I started this in high school,” Pasquarosa tells me. “It really started with an interest in helping small businesses stop running their business off their bank account balance and [instead] giving them timely, accurate books so they could make real-time decisions.”
Six ways they can be used.
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Danny Lohrfink is the co-founder and chief product officer of Wealth.com. Previously, he was business lead of SoFi’s wealth management division, SoFi Invest, and held several roles at Goldman Sachs Private Wealth Management, including VP on the PWM Management team. |
By Danny Lohrfink
The Holistic Guide to Wealth Management
Contrary to popular belief, a person’s net worth is not the only – or most important – factor when deciding if a trust is appropriate for them. After all a trust is simply an agreement between someone who owns an asset and a trusted person whom they choose to hold and manage that asset for them.
Exclusively for PRO Members. Log in here or upgrade to PRO today.This common misconception that trusts are only for the wealthy has long prevailed as a leading narrative because of the historically high costs associated with establishing and managing a trust. These costs presented a barrier for many individuals who lacked the financial resources to hire an expensive estate planning attorney. The result was that only the wealthy had these vehicles because they were the only people who could afford them.
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Cody Barbo is the founder and CEO of Trust & Will. Before this, he was founder and CEO of Industry, a “LinkedIn” for the service and hospitality industry. He serves on the San Diego State University Alumni Board of Advisors and Phi Kappa Theta Fraternity’s National Foundation Board. |
Advances in online planning tools make it easier and more affordable.
By Cody Barbo
The Holistic Guide to Wealth Management
Studies show that 60 percent of families don’t have any estate planning in place, which usually makes it more painful and expensive for families to settle the estate of their loved ones.
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When it comes to considering who will be the best guardian for your children or how to divide your assets among loved ones, thinking about your estate can be stressful and intimidating. In fact, our research shows that half of people who eventually do get estate plans in place, spend one to five years considering before actually completing it. Why do so many people procrastinate about something that’s so important?
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