pre-order: holistic guide to wealth management

built for practical implementation

the handbook is structured to facilitate and streamline implementation. it starts with the rationale for change, moves through practical implementation strategies, and concludes with advanced topics in holistic financial planning. it effectively blends technical knowledge with insights into human behavior and client communication. while the handbook primarily targets cpas, other financial professionals could benefit from its insights.

at a glance:

transformation of accounting and wealth professions: the document stresses the need for accounting professionals to shift from merely compliance-focused work to offering value-added advisory services. this includes embracing wealth management and holistic financial planning.

role of cpas as financial advisors: this section emphasizes why cpas are well-positioned to provide financial advice due to their trusted relationships with clients and deep knowledge of their financial situations. it discusses transitioning from tax preparation to a more comprehensive role in managing clients’ financial health and wealth.

business models and practice management: the guide discusses integrating wealth management into traditional accounting practices, adopting new business models, and implementing technology to streamline operations. it encourages using wealthtech and ai to enhance services and improve efficiency.

holistic services approach: encompasses all aspects of clients’ financial situations, such as investment, risk management, tax planning, estate planning, and insurance. the approach promotes personalized client care, addressing their life goals and financial well-being.

embracing technology and ai: the document highlights the increasing role of ai and technology in providing more efficient financial advisory services. this includes using technology to automate routine tasks and enhance client engagement.

communication and client relationships: building and maintaining strong client relationships is a recurring theme. the “advis-ror™ (return on relationships)” concept emphasizes that the value provided to clients goes beyond financial metrics and includes emotional connection and understanding.

adapting to a changing profession: the text advocates for a modernized accounting practice, including updated organizational structures, streamlined processes, technology adoption, collaborative service offerings, and pricing models that reflect value rather than hours billed.

succession, exit planning, and generational wealth transfer: provides strategies for guiding business owners through succession planning and maximizing exit readiness. it also addresses intergenerational wealth transfer and how to prepare clients’ heirs for inheritance.

integration of wealth management and accounting services: the document examines how accounting firms can partner with wealth management firms, set up their own registered investment advisory (ria) services, or collaborate with a virtual family office (vfo) model to provide a one-stop-shop experience for clients.

marketing and client engagement strategies: discusses the importance of marketing integrated accounting and wealth management services and engaging clients through a personalized, human-first approach.

why this handbook, why now

timely and relevant content: with technological disruption threatening traditional accounting services, the handbook offers a roadmap for cpas to evolve their practices and remain relevant.

emphasis on relationships: henry introduces the “advis-ror™” (return on relationship) concept, highlighting the importance of deep client relationships in an ai-driven world.

practical guidance: actionable advice on incorporating wealth management services, leveraging technology, and adapting to changing industry dynamics.

expert insights: contributions from 35 thought leaders in accounting, finance, and technology add depth and credibility to the content.

holistic approach: the handbook covers a wide range of topics, from practice management to behavioral finance, offering a well-rounded perspective on wealth management.

personal touch: henry’s story and experiences lend authenticity and relatability to the narrative.

appendices

the appendices cover additional topics such as healthcare planning, mental and physical health for professionals, and change management strategies for firms transitioning to holistic advisory models.

step-by-step implementation

scoping the opportunities

foreword & prologue

• foreword by clayton oates: why it’s so important for accountants to transform their practices to offer holistic wealth management services, focusing on client relationships and value creation.
• prologue: why now is the time for cpas to embrace wealth management by seth fineberg: today’s accounting landscape, with the shift toward financial planning and the need for cpas to expand beyond traditional services into wealth management.

chapter 1: evolution of the accounting and wealth professions

• by rory henry
  • the changing landscape of accounting and wealth management. it encourages cpas to view themselves as relationship builders and advisors rather than compliance-focused professionals. it introduces key themes of pricing, client relationships, and value delivery.

chapter 2: why cpas are best positioned to become financial advisors

• by blake oliver
  • the unique opportunity for accountants to offer financial planning due to their trusted relationship with clients. the chapter addresses common concerns cpas have in transitioning to wealth management and emphasizes the potential to enhance client relationships.

chapter 3: brave new world: m&a private equity & wealth management in accounting

• by bob lewis, charles paikert, randy crabtree, allan koltin, and phil whitman
  • how private equity (pe) is reshaping the accounting profession, including m&a trends, with recommendations for how cpas can integrate services like wealth management and highlights the potential to increase firm value and profitability through diversification.

chapter 4: toward a 21st century cpa: a dynamic vision

• by susan bryant
  • outlines the vision for a modern cpa firm, emphasizing changes in organizational structure, technology adoption, processes, pricing, collaboration, marketing, and culture. encourages firms to move away from hourly billing and take a results-based approach to client services.

chapter 5: profile of a modern firm: putting the vision into practice

• by michael maksymiw, cpa, cgma, msa
  • a practical guide for how a modern accounting firm can adopt an integrated model to attract talent, increase profitability, and enhance client services. discusses how a firm’s culture, technology, and client approach can contribute to its success.

chapter 6: incorporating wealth management into your accounting practice

• by rob santos
  • a roadmap for cpas to incorporate wealth management into their practice, outlining different models (e.g., setting up a registered investment advisor (ria), revenue-sharing arrangements). provides practical guidance on compliance and client management.

chapter 7: holistic service model: technology perspective

• by randy johnston
  • the role of technology in creating a holistic service model for accounting and wealth management. it emphasizes how tech advancements can streamline operations, improve client engagement, and support transitioning to a broader advisory role.

chapter 8: how wealthtech is reshaping the future of holistic advice

• by david knoch and ryan george
  • impacts and trends from wealthtech’s influence on the financial planning industry with details into how technology-driven tools enable advisors to deliver more comprehensive and personalized financial advice to clients.

chapter 9: how financial advisors can leverage ai to grow and protect revenue

• by dayvde wachell
  • why artificial intelligence (ai) can help financial advisors improve efficiency, client service, and business growth, leveraging ai to enhance wealth management services and protect revenue.

chapter 10: in pursuit of excellence to win the battle for talent

• by john fenton
  • talent acquisition and retention in the accounting and financial advisory space, with steps for firms to cultivate a culture of excellence and growth, attracting and keeping top talent.

chapter 11: raise rates

• by loren fogelman
  • strategies for accounting and financial advisory firms to raise their service rates, including value-based pricing, client segmentation, and enhancing perceived value to attract high-value clients.

chapter 12: tax advisory services: a pathway to greater financial freedom

• by jackie meyer
  • how to transition from tax preparation to tax advisory services and add greater value to clients’ financial well-being.

chapter 13: pricing your wealth management services

• by rory henry featuring ron baker, michael kitces, and ramit sethi
  • a deep dive into pricing models for wealth management services, exploring subscription, concierge, and membership models. it emphasizes the need to align pricing with the value delivered to clients.

holistic services

• chapter 14: quantifying the value of an advisor and behavioral coach
  • by rory henry (interview with michael dijoseph, vanguard)
    • the value that advisors add as behavioral coaches and their influence on clients’ investment decisions and long-term financial well-being.
• chapter 15: helping clients manage and embrace risk to set reasonable expectations for their investments
  • by aaron klein and dan bolton
    • risk management in the context of financial planning and how advisors can help clients embrace and manage investment risks.
• chapter 16: bridging the advice gap for better financial futures
  • by philipp hecker
    • explains the “advice gap,” where clients lack access to quality financial advice. discusses ways to bridge this gap and improve clients’ financial outcomes.
• chapter 17: life insurance and annuities
  • by david lau
    • how life insurance and annuities fit into holistic financial planning, with guidance on using these products to address clients’ needs.
• chapter 18: trust and estate planning for clients of all ages
  • by cody barbo
    • the role of estate planning in wealth management is to provide practical strategies for guiding clients of different ages through the process.
• chapter 19: a question of trust
  • by danny lohrfink
    • how trust in financial planning and wealth management affects client relationships and decisions.
• chapter 20: preparing your client’s kids for their inheritance
  • by randy fox
    • strategies for helping clients prepare their children for receiving an inheritance, focusing on financial literacy and responsibility.
• chapter 21: guiding business owners to success: an accountant’s role in exit planning
  • by christine nicholson
    • guidance for cpas on assisting business owners with exit planning, including succession strategies and financial considerations.
• chapter 22: advanced strategies for helping business owners maximize their exit readiness
  • by randy fox
    • advanced techniques for helping business owners prepare for a successful exit, emphasizing ways to enhance business value and readiness for sale.

how to communicate

• chapter 23: trust is the primary ingredient: retention, loyalty, and growth
  • by julie johnson
    • building trust in client relationships and providing strategies for improving client retention, loyalty, and business growth.
• chapter 24: marketing strategies for integrated accounting and wealth management services
  • by kelly waltrich
    • marketing techniques for accounting firms offering integrated wealth management services. covers branding, client engagement, and outreach strategies.
• chapter 25: understanding behavioral finance and the human first approach
  • contributor not listed
    • examines behavioral finance principles and the “human first” approach to client communication, emphasizing empathy and understanding client psychology.

appendices

• appendix i: building stronger financial futures with healthcare planning
  • by christine simone
    • discusses healthcare planning as part of holistic wealth management and its impact on clients’ financial futures.
• appendix ii: priority no.1: taking care of your mental and physical health
  • by kelly mann, randy crabtree & rob brown
    • details procedures for self-care by financial advisors and cpas to maintain mental and physical health, which ultimately benefits their professional performance.
• appendix iii: change management: apact
  • by will hill
    • provides strategies for change management within cpa and wealth management firms, focusing on effective transitions to new service models and business practices.

the authors and contributors

(partial list)

clayton oates is the founder of qa business, a speaker, author and global leader in accounting technology. clayton commenced his career at pwc in australia and today speaks around the world practically based on his 30+ years’ experience in the accounting profession. a passionate communicator who has educated over 100,000 professional advisors and business owners worldwide on embracing professional partnerships’ power. enabling accountants, bookkeepers and software vendors alike to enhance connection with each other and the clients and customers they serve.

seth fineberg is an accounting industry consultant, content strategist, analyst, and speaker. through accountants forward at sethfineberg.com, he provides practical and useful guidance from vendors, industry organizations, and accounting firms.  he has been a business editor and journalist for over 30 years, the vast majority of which has been spent overseeing the accounting profession’s evolution. to this end, he has served as technology editor at accounting today and the head of accountingweb’s us team.

blake oliver, a cpa and the founder and ceo of earmark, an app that offers nasba-approved cpe and irs-approved ce credits for listening to your favorite accounting and tax podcasts. blake also co-hosts the accounting podcast, the world’s most popular podcast for accountants. blake is passionate about keeping cpas informed and updated on the latest trends and technologies in the accounting profession. he has been recognized as one of the top 100 most influential people and one of the “40 under 40” by accounting today and cpa practice advisor, respectively. blake lives in scottsdale, arizona, where he enjoys hiking and swimming.

phil whitman specializes in cpa firm growth.  whether succession planning, m&a, talent acquisition, business advisory services or practice management consulting, firms of all sizes, from sole practitioners to top 10 global firms, rely on him. perhaps that’s why accounting today named him one of the top 100 most influential people in accounting.  phil has grown whitman transition advisors to be the largest advisory organization for cpa firms in the nation.  the depth and breadth of cpa firm leadership expertise by the whitman transition team is unparalleled.  with more than 1,000 merger and acquisition transactions and consulting engagements, the team ain’t seen nothing. phil has expanded his cpa firm relationships and now helps small, medium, and large cpa firms help their clients.  through the c suite impact llc group of companies, whitman, as chairman, offers everything from fractional cfo, back-office client accounting resources, business intelligence, and deal making, including buy-side, sell-side and capital raising. whitman partners with cpa firms and creates additional bottom-line revenue for the firms without adding one new client or one new staff member. whitman has been a featured speaker for various state societies of cpas and international cpa firm associations and a presenter for the cch annual user conference.   for over 25 years, he has advised firms throughout north america.

bob lewis is president of the visionary group and one of accounting today’s top 100 most influential people, with an extensive 25+ year dedication to supporting accounting firm innovation and growth. he has been trusted by firms in the top 500 to countless emerging practices. bob’s focus is to help firms develop and implement a growth strategy that utilizes both organic methods and mergers and acquisitions. his guidance helps firms build their overall enterprise value. for firms active or interested in m&a, bob leads a team adept at identifying transition opportunities, integrating tuck-ins, establishing platform locations, and navigating private equity options. he has deep experience sourcing, structuring, and negotiating m&a transactions, partner buy-ins/buy-outs, and compensation plans. organic growth and seamless succession planning fall under bob’s experience. he helps firms with upscaling their client base, leverage better pricing structures, address capacity management, expand their advisory services, and increase profitability. nationally sought-after as a speaker within the accounting world, bob commands attention at major industry forums and exclusive firm gatherings, sharing invaluable insights. there are few areas he cannot speak to regarding innovation and advancing the accounting profession. with an accounting background, a bachelor of science in finance, and an mba from depaul university in chicago, bob isn’t just an influencer; he’s a guiding force shaping the trajectory of the cpa profession.

allan koltin is the founder of koltin consulting group, a chicago-based consulting firm that specializes in working with professional and financial services firms in practice growth, management, human capital, and mergers and acquisitions. highly sought for his ability to engage and inspire audiences, allan enjoys delivering keynote addresses at conferences throughout the professional services industry. his passion is facilitating strategic planning retreats for firm leadership and partners. his specialties include strategy, governance, profitability, compensation, growth, human capital, succession, and mergers and acquisitions. for the last 24 years, koltin has been named one of the top 100 most influential people in the accounting profession.

randy crabtree is co-founder and partner of tri-merit specialty tax professionals and an author, lecturer and host of the unique cpa podcast.

charles paikert has been writing about the financial advisory industry since 2004. paikert has been an editor for investment news and financial planning and currently contributes to family wealth report, riabiz and barron’s. he has also written about the industry for the new york times and reuters and has moderated panels at numerous industry conferences, including schwab impact and invest. paikert co-authors madness: the ten most memorable ncaa basketball finals.

susan bryant is a certified public accountant and certified tax strategist with over 20 years of experience in the accounting industry. as a seasoned business owner, susan specializes in helping accomplished entrepreneurs maximize profitability, optimize tax strategies, and preserve their wealth. her holistic business adviser and strategic planner expertise have earned her widespread recognition, including honors as a woman of empowerment, enterprising woman of the year, and being named among the top 50 women in accounting.

rob santos is the ceo of arrowroot family office, founded in 2013. santos leads the investment committees of arrowroot family office and its affiliated investment partnerships. he is also the ceo of arrowroot advisors, an investment bank focused on mergers and acquisitions for software-based companies. rob works with affluent families, providing bespoke family office services, which include tax-efficient advisory and financial planning, m&a advisory, family governance and process advisory, and philanthropic initiatives.

randy a. fox, cfp, aep, founded two hawks family office services. he is a nationally known wealth strategist, philanthropic estate planner, educator and speaker. he is currently the editor-in-chief of planned giving design center, a national newsletter and website for philanthropic advisors. he is a past winner of the fithian leadership award by the international association of advisors in philanthropy.   randy was a founding principal of inknowvision, llc, a national consulting and marketing firm that developed estate and wealth transfer designs for clients of exceptional wealth. during his tenure, more than three hundred families were served and more than $500 million was directed to philanthropic purposes. he served as director and faculty member of the inknowvision institute, which provided professional advisors with the advanced technical and interpersonal tools required to attract and work successfully with high-net-worth clients.

kelly waltrich is a co-founder at intention.ly. for over 20 years, she has been championing the role of marketing in the financial services industry. as former chief marketing officer at emoney advisor and orion advisor solutions, she repeatedly proved that there is no better driver of an organization’s growth and overall success than a well-run marketing and communications team. at emoney and orion, waltrich built powerhouse marketing teams from the ground up, developing the engines that would fuel the highest periods of growth for both companies. she designed the strategy behind several successful rebrands, acquisitions, and product launches—including spearheading the development of two advisor marketing products—while creating unmatched overall brand visibility and helping to turn company executives into industry thought leaders. through forward-thinking demand generation, pr, and product marketing, waltrich created a consistent inbound pipeline for both firms, driving cac down and sov up. intention.ly is the culmination of every lesson waltrich has learned thus far as a marketing disruptor, born from her passion and persistent belief that when it’s done right, marketing is the accelerant financial services firms need to transform their growth trajectory.

christine simone is the ceo & co-founder of caribou, a software solution for the finance industry that includes healthcare costs and plan optimization in financial plans. although she’s years away from her own retirement, simone is obsessed with helping current and future retirees plan for and optimize their healthcare costs. she’s held notable leadership positions within the healthcare industry, working with key stakeholders from payers to providers to the veterans affairs. now, christine is the ceo & founder of caribou, a healthcare planning software for the finance industry. she’s driven by her passion to slash hidden incentives in healthcare to support smarter financial decision-making, and she is within the small fraction of women founders who have raised venture capital.