WEALTH MANAGEMENT

Nick Pasquarosa: Advisory at Scale Requires Systems, Not Heroics | Holistic Guide

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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.

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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.”

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What Are Your Clients’ Children Inheriting? They Need to Be Prepared 

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portrait of Randy Fox
Fox
 Randy A. Fox, CFP, AEP is the founder of Two Hawks Consulting LLC. He is a nationally known wealth strategist, philanthropic estate planner, educator and speaker.

Consider options beyond donor advised funds.

By Randy A. Fox
The Holistic Guide to Wealth Management

After interviewing several thousand high-net-worth families, The U.S. Trust Study of the Philanthropic Conversation found that one-third of respondents (31%) would switch to a new advisor if that advisor could talk to them meaningfully about philanthropy.

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Think about that for a second. One-third of affluent families would switch to a new advisor if that individual was more adept than their current advisor at helping them give their money away. It has nothing to do with investment returns, asset allocation or finding hot alternative investments. It has to do with understanding the client’s values and seeing the whole picture.
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Trusts Aren’t Just for the Wealthy

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Six ways they can be used.

portrait of Danny Lohrfink
Lohrfink
 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.

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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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All Ages Can Benefit from Trust and Estate Planning

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portrait of Cody Barbo
Barbo
 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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Four Misconceptions about Annuities and Insurance

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Lau
 David Lau is the founder and CEO of DPL Financial Partners, a privately held financial services firm that specializes in the development and distribution of low-cost, commission-free insurance and annuity products, for registered investment advisors (RIAs) and individual investors.

Perceptions are changing … and rightfully so.

By David Lau, founder and CEO of DPL Financial Partners, and 
Ross McGoodwin, regional vice president at DPL Financial Partners
The Holistic Guide to Wealth Management

After the stock market swooned (-22% S&P 500) and the majority of bond indices suffered double-digit losses in 2022, protection and income solutions are at the forefront of planning discussions. Instead of these principal protection and income solutions being offered only by commission-based agents, however, now they can be offered by fiduciaries for planning discussions and appropriate implementation.

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According to LIMRA (Life Insurance Marketing and Research Association), retail annuity sales in 2022 shattered the annual sales records set during the global financial crisis of 2008. For instance, fixed-rate deferred annuities totaled $113 billion, more than double the sales in 2021, LIMRA reported. CD alternatives, such as fixed-rate deferred annuities, provide security and tax-deferred growth. I have found this helps clients guarantee upside return, something they are actively seeking after one of the worst years in combined equity and bond performance since World War II. I’ve also found that fee-only options will provide higher rates compared to traditional, commission-based solutions.
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