today's features
advisory & consulting

help clients manage and embrace investment risk

three people having discussion at table over document and water glasses

portrait of aaron klein
klein
 aaron klein co-founded nitrogen and led the company to 42 straight quarters of growth as its first ceo. he was named by investment news as one of the industry’s 40 under 40 executives, and the wealth management industry awards honored him as ceo of the year in 2023.

the key is reasonable expectations.

by aaron klein and dan bolton
the holistic guide to wealth management

we face risks every day in our lives, from getting into our cars, to eating meals prepared at a restaurant, to flying in planes, to attending parades, sporting events and concerts. rather than burying our heads in the sand, most of us get on with our daily lives by making calculated assumptions about what risks are safe and manageable and which ones are reckless.

when it comes to our money, however, risk plays all kinds of games on our emotions and often triggers our fight-or-flight response. the securities & exchange commission defines financial risk as “the degree of uncertainty and/or potential financial loss inherent in an investment decision.” in general, as investment risks rise, investors seek higher returns to compensate themselves for taking such risks.

portrait of dan bolton
bolton
 dan bolton is vice president of corporate marketing at nitrogen. he is the creator of the fearless investing summit, one of the most dynamic and well-attended conferences in the wealth management profession, and launched the pre-eminent benchmark advisor growth survey.

more: quantifying the value of an advisor | subscriptions beat aum and hourly fees for wealth management | pursue excellence to win the battle for talent | seven tech keys to a holistic service model | toward a 21st-century cpa: a dynamic vision | why cpas are best positioned to become financial advisors | rory henry upends the traditional accounting firm
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so, if you’re thinking of adding an investment advisory component to your accounting practice, just know that being crystal clear about each client’s unique tolerance for risk is the first step toward getting them invested properly.
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featured video

ashley kostos: secret weapon = skills testing? | move like this

“accounting isn’t a ‘fake it ’til you make it’ job.”

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
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move like this
with bonnie buol ruszczyk
for 卡塔尔世界杯常规比赛时间

in a recent episode of move like this, ashley kostos, sales manager at accountests, joined host bonnie buol ruszczyk to explore how data-driven assessments are helping accounting firms hire smarter, retain top talent, and create clearer career paths. with ongoing staffing shortages and high turnover across the industry, testing may be the tool firms didn’t know they needed.

more move

accountests, founded by a former pwc partner and a psychometric testing expert, offers skills, ability, and personality assessments specifically designed for the accounting profession. these tools help employers move past resume claims and polished interviews to evaluate real-world competencies, including things like understanding financial statements, tax knowledge, and software fluency. “accounting isn’t a ‘fake it till you make it’ job,” kostos emphasizes. “you need to know how to do the work.”

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client accounting services

six differences with cas processes

help your clients run their businesses better.

by hitendra patil
client accounting services: the definitive success guide

let us focus on cas-specific processes that can give you competitive advantages. this is not about the technicalities of accounting processes. as a professional accountant, you already know the accounting fundamentals required to create your processes for each of the segments of the services you provide.

more by hitendra patil
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are client accounting services processes different than what you have been doing till now? yes, and no.
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pro member exclusive

best practices for executive committees

six people meeting around a table

how many people? what do they do? and more.

by marc rosenberg
the rosenberg practice management library

“a group of the unprepared, appointed by the unwilling to do the unnecessary.” – fred allen

when firms are small or newly formed, the firm’s management philosophy is characterized by some or all of the following:

  1. “we all have a vote, and we make decisions as a group.”

more by marc rosenberg
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  1. partners share profits and duties. “if we all pitch in and take responsibility for a certain area of the firm (admin, staff, quality control, marketing, etc.), our firm will be well managed, and we can save the cost of a firm administrator.”

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2022年世界杯抽签

bissett bullet: do you need an accountability partner?

today’s bissett bullet: “positive change in our firms happens when we decide to hold ourselves accountable for achieving the change and hire proven catalysts to help.”

by martin bissett

so many accounting firms look to change but very few actually want to be the change. as a result, the recurring fee model in accounting encourages a degree of apathy and lethargy with regard to growth. with this recurring fee model, there is no commercial imperative to actually have to win new fees week in week out to pay the bills as many of your clients do.

on that basis, the only way growth can happen, and positive change can happen in your firm, is when you decide there is a reason for it and get external accountability to make sure you are held to account for achieving that change. when you are looking to develop your firm’s fee base, talent base or service base, make sure you have got someone you respect cracking the whip to help you to make it happen.

today’s to-do:

today you need to decide what you are really prepared to be held accountable for in terms of positive change in your firm. set that firm goal up right now with the external accountability to make it happen.

see more bissett bullets here

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