the rise of the virtual cfo
jody grunden says clients want more than “regurgitating financial information.”
client service opportunities
growing with a client
responsiveness benefits both of you.
by ed mendlowitz
call me before you do anything: the art of accounting
i’ve told the story of how we were hired to prepare corporate tax returns at a much higher fee than the client said they wanted to pay. this client grew to become our largest client. here is how it happened.
more: my first thought is to never turn down business | i lost a client to an accounting firm with cheaper fees | how i saved a business | the staffer who was too smart
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we completed the initial work earlier than the deadline, raising the confidence level with us. we were then asked to bid on a system evaluation of a small retail chain they owned and were thinking of expanding. this was also a fixed fee. next came an audit of their employee benefit plan, then some pricing consulting, and a flow of continuous phone calls with tax and accounting questions and eventually an audit of their company.
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the 5 meetings of the (true) wealth management process
why each is necessary.
by anthony glomski
as discussed in collaborative wealth management: defining the framework, it’s in vogue for financial services workers to call themselves wealth managers or wealth advisors. but, research shows that only a small fraction of these workers really provide clients with a complete and consultative approach to managing their complex financial lives.
more: protect your clients’ assets | even entrepreneurs must diversify | when clients cash out: four smart financial moves
regardless of which acronym(s) you have on your business card after “cpa,” one way to assure clients and prospective clients that you’re a true wealth manager is to have a carefully defined wealth management process in place.
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my first thought is to never turn down business
someone else could do it, but why?
by ed mendlowitz
call me before you do anything: the art of accounting
one of my partners once was asked to recommend an accountant who could do corporate tax returns for a very large company.
more: i lost a client to an accounting firm with cheaper fees | getting a referral from an adversary | start with the cash | why a break-even analysis matters | how i owned a printing company and restaurant | am i happy? | my boss hated the client | fired from my first job | staffers need to speak up with clients | bored by cpe? you’re missing out! | clients buy solutions, not hours
he was told it would take about 20 days and the fixed fee was an amount that was about a third of our normal rates. my partner was going to refer a cpa who sublet from us who seemed to have the time and he asked me if i thought the accountant could do it.
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ready to be a virtual cfo?
solid technology is just one key.
by jody grunden
you may have heard about virtual cfo services. it’s a concept that’s been around for a while now that allows cpas and accounting firms to offer cfo services to smaller businesses that may not yet be able to afford a full-time cfo.
more: the only three metrics you need to measure staffers
what is a virtual cfo?
virtual cfo (or vcfo for short) stands for virtual chief financial officer. a vcfo provides outsourced accounting services at a high level for businesses.
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