wealth management

three p’s for helping investors make rational decisions.

by rory henry
the holistic guide to wealth management

malcolm forbes liked to say, “advice is more fun to give than to receive.” but the right advice in the right framework can be invaluable. and sometimes, the best advice you’ll ever receive is what prevents you from engaging in harmful behaviors.

more: subscriptions beat aum and hourly fees for wealth management | tax advisory services: a pathway to greater financial freedom | raise your rates to change your clientele | pursue excellence to win the battle for talent | leverage ai to grow and protect revenue: six steps | how wealthtech is reshaping the future of holistic advice | seven tech keys to a holistic service model | four ways to provide wealth management in your accounting practice | profile of a modern firm: putting the vision into practice | toward a 21st-century cpa: a dynamic vision
exclusively for pro members. log in here or 2022世界杯足球排名 today.

michael dijoseph, cfa, a senior strategist at vanguard investment advisory research center, has spent a large portion of his career studying how financial advisors advise clients, how they can get better at providing advice and how we can measure the value of advice because these days, everyone from salesclerks at the mall to nasa rocket consultants seem to have the word “advisor” attached to their job title. more on that in a minute.
read more →

make clients feel like members.

by rory henry
the holistic guide to wealth management

recently i listened to a lively debate about financial advisor compensation between ramit sethi, author of the best seller “i will teach you to be rich,” and michael kitces, host of the financial advisor success podcast. sethi was highly critical of the traditional 1 percent of assets under management (aum) model that so many wealth advisors charge. instead of 1 percent of aum, sethi argued that advisors should think of themselves as accountability partners (i.e., personal trainers for clients’ money) and instead charge them based on how they help them modify their behaviors to produce better outcomes.

more: tax advisory services: a pathway to greater financial freedom | raise your rates to change your clientele | pursue excellence to win the battle for talent | leverage ai to grow and protect revenue: six steps | how wealthtech is reshaping the future of holistic advice | seven tech keys to a holistic service model | four ways to provide wealth management in your accounting practice | profile of a modern firm: putting the vision into practice | toward a 21st-century cpa: a dynamic vision | why cpas are best positioned to become financial advisors | introducing you to a fulfilling return on relationships | rory henry upends the traditional accounting firm | why now is the time for cpas to embrace wealth management
exclusively for pro members. log in here or 2022世界杯足球排名 today.

for instance, a good advisor can help clients adopt good behaviors such as saving more of every paycheck and sticking to their investment plan during volatile times. good advisors, said sethi, also help clients from engaging in their old wealth-destructive behaviors such as speculating on hot stocks in the news or cashing out of the market at the first sign of trouble. by the way, helping clients modify behaviors and produce better outcomes is what an advis-ror™ does.

let’s explore how an aum/subscription model using a virtual family office is a win for both firms and the clients they serve.
read more →

five kpis to measure success.

jackie meyer, cpa, ctc, msa, is president and founder of meyer tax consulting llc, taxplaniq, and concierge accountant coaching programs in southlake, texas. she offers concierge tax and accounting services to assist clients with anything from income-shifting strategies to managing a family business in qbo.

by jackie meyer
the holistic guide to wealth management

revenue growth isn’t just a metric; it’s at the heart of financial well-being for financial professionals and their clients. when a firm grows its revenue, the balance sheet isn’t the only thing that benefits. it enables the firm to invest in advanced technologies and education, to offer more comprehensive services, to fulfill philanthropic goals and to attract top-tier talent. expanding revenue also benefits the firm’s clients by availing them of more strategic advice, faster response times and ultimately, a more secure financial future.

more: raise your rates to change your clientele | pursue excellence to win the battle for talent | leverage ai to grow and protect revenue: six steps | how wealthtech is reshaping the future of holistic advice | seven tech keys to a holistic service model | profile of a modern firm: putting the vision into practice | what multiples mean to accounting firms | why cpas are best positioned to become financial advisors | introducing you to a fulfilling return on relationships
exclusively for pro members. log in here or 2022世界杯足球排名 today.

according to an american psychological association’s stress in america survey, money worries and inflation have raised our collective stress to the highest level since 2015. financial stress is detrimental to mental health and leads to higher rates of anxiety, depression and other mental health issues.
read more →

john fenton, cpa, mba is the ceo of john j. fenton executive coaching, which he launched following a successful 30+ year career as a managing partner and cpa. he is a certified success principles™ trainer, an award-winning speaker, best-selling author and leading authority in leadership.

the roles that purpose, vision and culture play.

by john fenton
the holistic guide to wealth management

some call it a battle, some call it a war. whatever you call it, there’s no arguing that competition for talent in our industry is fierce. accounting firms, like most other businesses, are struggling to find qualified workers to meet the growing needs of their clients and customers. at the same time, opportunities to grow revenue are abundant.

more: leverage ai to grow and protect revenue: six steps | how wealthtech is reshaping the future of holistic advice | seven tech keys to a holistic service model | four ways to provide wealth management in your accounting practice | profile of a modern firm: putting the vision into practice | toward a 21st-century cpa: a dynamic vision | what multiples mean to accounting firms | tsunami of m&a, pe is disrupting the accounting profession | why cpas are best positioned to become financial advisors | how wealth management has evolved
exclusively for pro members. log in here or 2022世界杯足球排名 today.

according to mckinsey data, voluntary “quit rates” are 25 percent higher than they were before the pandemic. at some firms, attrition rates have been as high as 20 percent to 25 percent. meanwhile, a recent gallup survey found that only one-third of employees (32%) felt “engaged” in their jobs. meanwhile, mid-level professionals who would normally be on track for long careers at their employer are leaving in droves to pursue something else.

the aforementioned mckinsey report identified the motivating factors that keep people in their jobs and the demotivating factors that drive them away.
read more →

david knoch has 20+ years of high-profile leadership in the financial advice industry. he joined docupace as ceo in april 2020 and has spearheaded the company’s strategic transformation – marked by double-digit revenue growth, product/capability expansion, multiple acquisitions and numerous industry accolades.

five key areas where firms can make inroads; three areas in which wealthtech has a disproportionate impact.

by david knoch and ryan george
the holistic guide to wealth management

leveraging the power of technology has never been more accessible, or more important, for wealth management firms. as client priorities and goals shift, old delivery models and outdated tools are no longer enough to keep up in the current market.

so how does a wealth management firm differentiate itself? they lean toward technology and embrace the right wealthtech solutions to deliver holistic advice.

ryan george is the chief marketing officer at docupace and a leader in both financial services and marketing communications. he is a member of the forbes communications council, an invitation-only, fee-based organization of senior-level communications and public relations executives and the cmo council.

more: seven tech keys to a holistic service model | profile of a modern firm: putting the vision into practice | toward a 21st-century cpa: a dynamic vision | what multiples mean to accounting firms | tsunami of m&a, pe is disrupting the accounting profession | how wealth management has evolved | introducing you to a fulfilling return on relationships
exclusively for pro members. log in here or 2022世界杯足球排名 today.

read on as we break down the context, problems and solutions of wealthtech in the financial services space.

why wealthtech?

the last few years have brought a world of change to the financial advice and investment industry. between volatile markets, shifting client demands and an ever-growing technology landscape, the entire wealth management ecosystem is evolving.
read more →