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Manage Change through A PACT

portrait of Will Hill
Hill
 Will Hill is the founder and owner of Will Hill Consults, LLC,  a coaching and consulting firm serving the tax and accounting profession. He has been serving the tax and accounting community since 2001.

Are you communicating enough?

By Will Hill
The Holistic Guide to Wealth Management

The pace of change in the tax and accounting profession has increased dramatically in the last 20 years. Some change, such as regulatory change, is forced. Other forms of change, such as technology change, is imperative to make. But when it comes to making changes to your client engagement strategy, that choice is yours. I have not spoken to a firm owner yet over the past half decade who hasn’t had at least one significant change to their practice during that time. Many have gone through multiple changes per year.

MORE: Priority No. 1: Your Mental and Physical Health | Build Stronger Financial Futures with Health Care Planning | Use Goodwill to Maximize Exit Readiness | A Question of Trust: Not Just for the Wealthy | Bridge the Advice Gap for Better Financial Futures | Subscriptions Beat AUM and Hourly Fees for Wealth Management | Pursue Excellence to Win the Battle for Talent | Seven Tech Keys to a Holistic Service Model | Toward a 21st-Century CPA: A Dynamic Vision | Why CPAs Are Best Positioned to Become Financial Advisors | Rory Henry Upends the Traditional Accounting Firm
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But just because you have gone through changes to your practice doesn’t mean you’ll be more successful. So, when we look at firms that have navigated change successfully to make a positive impact on their business, what sets them apart? They have one thing in common: They make “A PACT” for success.
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GROWTH STRATEGIES

DiJoseph and Mazabel: Estate Planning Is the New Advisory Power Play | Holistic Guide to Wealth Management

Connecting the dots between behavior, legacy, and tax strategy unlocks greater trust—and stronger returns—for clients.

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By Rory Henry CFP®, BFA™
For CPA Trendlines

In today’s evolving advice landscape, being an expert in investment portfolios or tax returns is just table stakes. To stand out in a crowded field, you must be able to think at least two steps ahead of your clients. It means helping clients navigate life transitions, avoid costly mistakes, and leave a legacy with intention. 

MORE Rory Henry and The Holistic Guide to Wealth Management

BUY the Holistic Guide to Wealth Management

As you’re probably sensing, we’re not just in the business of numbers today. We’re in the business of behavior and relationships. That’s the message during the latest Holistic Guide to Wealth Management book panel featuring Michael DiJoseph, CFA, a senior strategist at Vanguard’s Investment Advisory Research Center, and Andres Mazabel, head of Advisor Sales at Trust & Will. The discussion unpacks what 25 years of Vanguard’s Advisor Alpha research tells us about advisor value—and how digital estate planning is becoming a powerful new entry point for meaningful client conversations. 

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Marketing Strategies for Wealth Management Services

portrait of Kelly Waltrich
Waltrich
 Kelly Waltrich is the co-founder of Intention.ly, a leading marketing consultancy to fintech and finserv companies.

Turn holistic services into accelerated growth.

By Kelly Waltrich
The Holistic Guide to Wealth Management

For CPAs, offering holistic wealth management services can be a game changer for your practice. These services are a clear opportunity to provide top-notch guidance to clients while fueling additional revenue streams.

MORE: Trust Is the Primary Ingredient | Use Goodwill to Maximize Exit Readiness | A Question of Trust: Not Just for the Wealthy | Bridge the Advice Gap for Better Financial Futures | Subscriptions Beat AUM and Hourly Fees for Wealth Management | Pursue Excellence to Win the Battle for Talent | Seven Tech Keys to a Holistic Service Model | Toward a 21st-Century CPA: A Dynamic Vision | Why CPAs Are Best Positioned to Become Financial Advisors | Rory Henry Upends the Traditional Accounting Firm
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But let’s be real – simply hanging out a “wealth management” shingle won’t cut it in an industry in which competition is abundant, and differentiation is key. Making your clients and prospects aware of your expanded offerings, and growing your business as a result of those offerings, requires a much more targeted approach.
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How to Use Values-Based Financial Planning

man in glasses looking at document held by woman

Including an exercise to help clients uncover what matters most to them.

By Rory Henry
The Holistic Guide to Wealth Management

Values-based financial planning is an approach to financial planning that takes into consideration an individual’s unique values, beliefs and goals – in addition to their financial situation – to create a customized and sustainable plan. Unlike traditional or goals-based financial planning, which may not fully consider the role of personal values when making financial decisions, values-based financial planning aims to align a person’s financial plans with their life purpose and goals.

MORE: Life Planning: Going Beyond the Financials | How to Conduct a Proper Discovery Meeting | How Behavioral Finance Works | Build Stronger Financial Futures with Health Care Planning | Use Goodwill to Maximize Exit Readiness | A Question of Trust: Not Just for the Wealthy | Bridge the Advice Gap for Better Financial Futures | Subscriptions Beat AUM and Hourly Fees for Wealth Management | Pursue Excellence to Win the Battle for Talent | Seven Tech Keys to a Holistic Service Model | Toward a 21st-Century CPA: A Dynamic Vision
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Brendan Frazier believes that understanding our clients’ values is crucial for establishing a strong foundation in the discovery meeting. He explains that values shape our goals, and our goals shape our behaviors. By uncovering what truly matters to our clients, we can align their financial plans with their core values, creating a sense of purpose and motivation.
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PRO Member Exclusive

Trust Is the Primary Ingredient

portrait of Julie Johnson
Johnson
 Julie Johnson, CIMA, CFP,  is the founder and chief engagement officer of XY Communication and a former senior vice president with UBS. She helps financial professionals to increase engagement with existing clients, prospects and peers by improving their ability to communicate, connect, and build trust and loyalty.

It drives retention, loyalty and growth.

By Julie S. Johnson
The Holistic Guide to Wealth Management

The Insurance Network for Fiduciary Advisors reported that 96 percent of clients are looking for wealth transfer advice from their advisors while they’re still alive, but fewer than one in four (25%) of financial professionals provided it to their clients.

Why is there such a disconnect?

MORE: Use Goodwill to Maximize Exit Readiness | An Accountant’s Role in Exit Planning | Trust and Estate Planning Is for Clients of All Ages | Help Clients Manage and Embrace Investment Risk | Tax Advisory Services: A Pathway to Greater Financial Freedom | Leverage AI to Grow and Protect Revenue: Six Steps | Four Ways to Provide Wealth Management in Your Accounting Practice | What Multiples Mean to Accounting Firms | How Wealth Management Has Evolved | Why Now Is the Time for CPAs to Embrace Wealth Management
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So many financial professionals have told me it’s not their job to hold clients’ hands during the emotional challenges of death, divorce, inheritance. “They hire us to take care of their financial goals and challenges, not be their therapist,” advisors tell me again and again. This comment, and multiple variations of it, are what I hear often after speaking or writing on this topic.

That disconnect is your opportunity as a CPA!
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