PFP Practice Management

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PFP Practice Management

The section addresses issues that face the firm as they consider developing and managing a PFP practice.

Regulatory and Statutory Issues

Fiduciary Responsibility

Practice Management

Practice Marketing

Developing a PFP Practice

Managing a PFP Practice

Professional Standards and Ethics

Engagement Planning

Client Data Gathering Tools

Engagement Planning Tools & Checklists

Sample Engagement Letters

PFP Practice Guides

AICPA Career Development & Workplace Issues

Looking for ways to develop your career or deal with day-to-day workplace issues? The links below provide valuable information and resources to take you in whatever direction you are looking to go. Learn More>>

Forefield Advisor: Client Communication Examples

These are a few examples of client communication tools available via Forefield Advisor. Learn More>>

CPA's Guide to Technology in a PFP Practice

PFP Section Member

Because personal financial firms vary greatly in size and in their business approach, it is important to understand that there is no "one size fits all" technology solution. Learn More>>

CPA's Guide to Regulatory Issues in a PFP Practice

PFP Section Member

As a CPA financial planner, you face a confusing array of compliance guidelines. In this guide, you will find valuable information. Learn More>>

Document Management

PFP Section Member

The concept of the “paperless office” has been with us for well over three decades now. Many credit Business Week magazine with first popularizing the notion of a paperless office. In a 1975 article entitles “The Office of the Future” the magazine predicted that offices would soon be entirely paperless due to the impact of computers. Learn More>>

Technology in a PFP Practice

Because personal financial planning firms vary greatly in size and in their business approach, it is important to understand that there is no "one size fits all" technology solution. Learn More>>

Thrifty Technologist Series

When times get tough, spending usually declines, sometimes dramatically. Nowhere is this more evident than in the technology sector. According to a recent Forrester Research survey, more than half of US consumers plan to cut back on technology spending this year. There is a case to be made that PFP’s should be spending more on technology now, not less. Learn More>>

Thrifty Technologist Series: Smartphones

PFP Section Member

Over the last several years, the smart phone marketplace has undergone a revolutionary change. As a result of these changes, smart phones are becoming, for the first time, an essential productivity tool to the personal financial planner. Learn More>>

Thrifty Technologist Series: Netbooks

PFP Section Member

While netbooks lack the power of a traditional laptop, and none include an optical drive (you can purchase an external one if necessary for a modest fee), they are perfect for the PFP who wants basic portable computing on the road at a reasonable price. Learn More>>

Executive Summary

PFP Section Member

This is the first study of CPA financial planning/investment advisory practices, by Moss Adams and the AICPA. This study draws upon detailed information provided by 431 practices falling into various business models across the country. Learn More>>

Single Entities

PFP Section Member

Firms classifying themselves as single-entity providers of both CPA and financial planning services are a further evolution of the solo CPA model. Learn More>>

Referral Partners

PFP Section Member

Referral relationships or joint ventures seem to be relatively rare in the industry, with these types of respondents making up our smallest grouping of firms. Learn More>>

Portfolio Management and Accounting Software

PFP Section Member

Portfolio management and performance reporting systems play a major role in most PFP practices; many would argue that they play too large a role. Why? Because PFP is a long-term, ongoing process that has little if any relationship to short term investment performance. Learn More>>

Business Models

PFP Section Member

The services offered and the overall sophistication of those service offerings varies significantly from firm to firm in our study. Some CPA firms simply refer planning and investment business to another professional or firm outside of their own, while a significant number of financial planning practices operate as fully functional divisions within, or subsidiaries of, a CPA firm. Learn More>>

Thrifty Technologist Series: Getting the Most Out of What You Already Have

PFP Section Member

In this challenging environment, it is often useful to take inventory of what you already own and how you are using it before you undertake any new technology expenditures. Learn More>>

Are You Providing Investment Advice?

Level 1

Whether you believe you are in the business of providing investment advice or not, all advisors who touch the areas of estate, tax, retirement, insurance or investment planning should educate themselves on what the SEC believes to be investment advice. Learn More>>

Building Blocks, Encompassing the Technological Components of a Successful PFP Practice

PFP Section Member

Since personal financial firms vary greatly in size and in their business approach, it is important for the reader to understand that there is no “one size fits all” technology solution. Learn More>>

Challenges

PFP Section Member

CPA financial planning/advisory firms have all of the challenges associated with operating as a financial planning/advisory business; however, they have the added complexity of being part of a larger business. Learn More>>

AICPA Moss Adams Complete Study

PFP Section Member

Thrifty Technologist Series: Survey Your Clients

PFP Section Member

In this article, the first in a series, we’ll look at how a very modest investment of time and money in survey software can improve your practice. Learn More>>

Solo Practitioners

PFP Section Member

Of all the participant groups in the study, solo CPA practitioners was the largest, making up nearly 40% of the sample population. Given the prevalence of the solo practitioner model among the overall universe of practicing CPAs, one might intuitively expect that it would be the most common model. Learn More>>

Stand-Alone Businesses

PFP Section Member

These independent entities, which are fully or partially owned by a CPA firm, subscribe to the most advanced business model among the firms we surveyed. Learn More>>

CPA Financial Planning Practice Study

PFP Practice Portal

The AICPA’s PFP membership section brings you resources to start or grow your business to cover your client’s personal financial planning needs that are in higher demand than ever before. Learn More>>

Best Practices

PFP Section Member

Whether the goal of the firm is to get to a specific size, level of performance or profitability; or to simply allow the owners or partners to live a certain lifestyle; or to achieve many of these in combination, a disciplined approach to business management is the key to success. Learn More>>

Selecting the Right CRM Application for Your Firm

PFP Section Member

CRM software may be the single most important software application within your firm. If CRM software is not playing a critical role within your firm you are either using the wrong product or you are not using the product you have properly. Learn More>>