View the study results as presented by the writers of the study, Rebecca Pomering & Ken Evans (this seminar recording is only available to PFP section members)
Do you need advice on how to put the AICPA/Moss Adams Study results into action in your practice?
Two conference sessions took place at the 2009 PFP conference. Access is complimentary to conference attendees and can be purchased by those who were unable to attend. Click here to access the site and input conference code FINANCE08.
Putting the AICPA/Moss Adams Study Results Into Action
The AICPA/Moss Adams CPA Financial Planning Practice Study, released in April, 2008, is the first ever study to focus solely on CPA financial planning practices. The study brings out what the most profitable firms are doing to be successful in this practice area.
Best Practices Business Models
As a complement to the Putting the AICPA/Moss Adams Study into Action session, join this session moderated by a primary author of the AICPA/Moss Adams Study as a panel of successful CPA/Financial Planners representing each of the 4 business models included in the study (sole proprietor, single entity, stand alone financial planning entity and referral partner) address a wide variety of topics.
Do you need assistance in implementing PFP services in your firm?
- PFP/PCPS Web Forum, Building a Successful PFP Practice, originally aired on November 13th (2 – 3:30 p.m. ET) featuring Jimmy Williams, CPA/PFS. View the archive.
- Moss Adams Study Results Web seminar with Rebecca Pomering and Ken Evans (a PFP section member benefit)
- Practice Guides
References and resources have been included to assist CPA financial planners in their practices. These useful guides present non-authoritative guidance on PFP practice management topics.
Guide to Developing and Managing a CPA PFP Practice
The Guide to Developing and Managing a CPA PFP Practice is geared toward the CPA who is interested in adding Personal Financial Planning (PFP) to their practice or expanding PFP services already in place. The guide will lead you through a range of business processes most frequently encountered when developing and managing a CPA Personal Financial Planning practice, including: organizing your practice and developing procedures, assessing professional liability and managing risk, regulatory requirements, determining fees and costs, engagement documentation, and how to market your services and grow your practice.
Guide to Delivery of Personal Financial Planning Services
Guide to Delivery of Personal Financial Planning (PFP) Services is a reference for many of the day to day issues you face in delivering personal financial planning (PFP) services. Topics include PFP engagement processes, fee arrangements, software, engagement letters, reporting recommendations, and professional liability insurance. In addition, you will find tools and tips to successfully undertake PFP engagements, including questionnaires to help you gather client information and documents, set realistic goals, and analyze data. The guide also includes a comprehensive, adaptable engagement program, and analytical procedures checklist that provide a step-by-step approach to delivering PFP services.
Overcome Challenges and Implement Best Practices in your PFP Practice
View this Web seminar replay that showcases Lyle Benson, CPA/PFS, CFP and Deena Katz, CFP as they discuss overcoming challenges and implementing best practices in your PFP practice including:
· Why are you in this business?
· What do your clients want from you?
· Which business model works best for your practice?
· Building a business (not just a practice)
· Best practices - taking a strategic approach to the business
· How to put the AICPA/Moss Adams Study results into action in your practice
The Right Balance: Effectively Managing Your Practice While Providing Superior Client Service
In this Web seminar replay, presenters Lyle Benson, Jr., CPA/PFS, CFP and Deena Katz, CFP discuss ways to improve the efficiency and effectiveness of your practice. Key areas of discussion are as follows:
· Identify the areas of practice management that take your valuable time
· Schwab survey results: Today’s Best Managed Firms Work Smarter, Not Harder
· The E-Myth Principle – making sure you spend time working ON the business (not just IN it)
· Excellent client service – what can others in your firm do for you?
· Tax season – how to manage it so you can still provide great service to clients
How to Choose the Most Appropriate Business Model for your Practice
In this Web seminar recording, top securities law attorney Guy Lander will walk you through fundamental facets of three PFP business models, including: Securities Broker-Dealer, Registered Investment Adviser and Referral/Solicitor Agreements with Investment Companies.
If you are considering establishing an investment advisory practice, listen to this Web Seminar to learn important aspects, benefits and risks associated with each PFP business model. The session covers topics including:
· The types of PFP services conducted through each business model
· Methods of compensation
· Regulatory requirements
· Costs and liability
· Other factors to consider including, loss of independence