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Trusts Aren’t Just for the Wealthy

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.

MORE Rory Henry and The Holistic Guide to Wealth Management
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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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CLIENT SERVICE OPPORTUNITIES

Three Steps to Better Client Communication

What can you anticipate and prepare for?

By Jody Grunden
Building the Virtual CFO Firm in the Cloud

Clients desire transparency. Being transparent with clients and having open, honest communication with them helps build really strong, healthy working relationships. It’s never been so important for us to have open communication channels with our clients at all times no matter what form of communication is being utilized.

MORE by Jody Grunden
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In some organizations, people hide behind their computers if they feel too busy or if they don’t want to face the client because they aren’t able to meet a deadline. We, on the other hand, make it a priority to be available to our clients at all times.
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PRICING, FEES & BILLING RATES

Five Solutions for Price-Sensitive Clients

Woman complaining to businesswoman at laptop

Do they see the ROI?

By Sandi Leyva
The Complete Guide to Marketing for Tax & Accounting Firms

No matter how small or large your practice is or how experienced you are, you’re probably going to meet some prospect or clients this busy season who are price-sensitive. Many of you try to run from them as far away as possible, and others of you tell me you have to take these clients or you wouldn’t have a full practice.

MORE by Sandi Leyva
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So you might already have a solution to dealing with price-sensitive clients that you’re happy with. If you don’t, or are ready for more ideas, this post is for you.
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ABOUT US

Bissett Bullet: Build On Their First Impression

Today’s Bissett Bullet: “The great proposal document is one that recreates, in part, the empathy and resonance that the prospect experienced when they met us in person.”

By Martin Bissett

A great proposal document is one that tells a story for you on your behalf. A great proposal can do a lot in terms of creating goodwill to your prospective client if it’s ever read when you are not present with them. So, when writing a proposal, it is important to understand that we are not just quoting for some services in exchange for some money, we are actually telling the story of the business to date, where that business is going next and how we will accelerate the development for that business. It is another opportunity to build on the first impression you have created by demonstrating that you have listened to, understood and given careful consideration to their needs.

Today’s To-Do:

The action today is to revisit the template you use for your proposal or quote documents and make it far more worthy of a prospect’s time and attention than it is right now.

See more Bissett Bullets here

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ACCOUNTING ARC

Recognize When You Need to Recharge Before You Burn Out | ARC

Paying attention to personal stress signals can help professionals recharge before fatigue turns into burnout.

Sponsored by True Advisor: The Definitive Success Guide for Client Advisory Services by Hitendra Patil |
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The step-by-step operating guide for firms building, pricing, and scaling advisory services that clients value—and pay for.

Accounting ARC
With Liz Mason, Byron Patrick, and Donny Shimamoto
Center for Accounting Transformation

In accounting, exhaustion does not always look dramatic. 

Sometimes it looks like irritability. Sometimes it looks like staring at a spreadsheet that suddenly makes no sense. Sometimes it looks like mental fog, poor focus, a mild headache, or the sense that even small decisions take too much effort. 

MORE Accounting ARC: Valuing More Than the Balance Sheet | Accounting’s “Untalked-About” Frontier | Why Happiness is Hard-Fought for High Achievers | The Fastest Way to Lose Talent Is “Dick Leadership” | Post-Holiday Fatigue Isn’t a Failure; It’s a Signal | OCR, Research Bots & Meeting Assistants: What Actually Helps Now | Return Season is the New Stress Test | Small Firms May Have the Biggest Advantage in 2026 | Downgraded: What the DOE Said About Accounting | Savage: Using Your License as a Megaphone |  Baker: Interpreting Pricing Psychology | Don’t Get Fired by Your Own Automation | What Amazon Doesn’t Tell You | Royalties, Residuals, and Reality Checks | ARC-SLC 

In the latest episode of Accounting ARC, hosts Donny Shimamoto, CPA.CITP, CGMA; Byron Patrick, CPA.CITP; and Liz Mason, CPA, take on a subject that lands close to home for many professionals, especially during demanding stretches of work: how to recharge when the pace is relentless and the pressure does not let up.

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