Relate Offers The Model for CPA – Financial Planner Partnerships

Financial Planner Partnerships

Considering the complexity of today’s client financial needs, now more than ever, CPA’s are partnering with financial advisors to gain advantage over the competition.

Data from the last five years supports this trend: with an almost 300% increase in CPA’s partnering with financial advisors, jumping from 1.5% to more than 5%. Still, many CPA’s resist the trend for one major reason…TRUST.

From a CEG worldwide study;

  • 95.4% of CPA’s believe there is a conflict of interest with an in-house advisor.
  • 76.5% are concerned that an advisor in the practice would affect clients trust.

At Relate Personal Finance, I empathize with the CPA who wants to offer more but has concerns over who to trust. The solution is partnering with an independent, fee only financial planning business.

  • Independent – I am not tied to any family of funds, investment products or insurance companies. This eliminates many conflicts of interest that create client distrust.
  • Fee Only – I have a simple and transparent fee structure, much like CPA’s. Relate does not receive commissions or other payments from third parties. The only revenue is from clients.
  • Financial Planner – Relate goes beyond investment advice, providing personal finance solutions. Clients have complex lives, yet they want to simplify. Together, Relate and CPA’s can play a bigger role in what clients need.

What’s In It For The CPA?

  • Potential to increase revenues outside of tax season.
  • Increased dependence of existing clients.
  • Increased menu of services to offer potential clients.
  • Increased tax preparation efficiency through coordination with Relate.

Relate offers CPAs an opportunity to be more for clients without affecting the accountant’s role and reputation. I offer an honest approach that values your relationship with your client.

How It Works

A formal agreement that defines the role and responsibilities for each party with built in flexibility to handle the needs of individual clients. Clients get the assistance they need from two independent firms working together. If you are interested in learning more, let’s set up a brief meeting or grab lunch.

Why CPAs Work With John

Relate Personal Finance is a sole proprietorship. Individuals and CPAs that choose Relate will exclusively work with John O’Brien. This is important, because John understands the nature of the CPA’s business and the importance of the clients’ well-being. It also helps that he has a degree and experience in accounting.

As a Field Examiner for the Financial Industry Regulatory Authority (FINRA), formerly the NASD, and a finance auditor for the Federal Reserve Bank, John understands trust and fiduciary responsibility.

Contact John today to hear more about aligning your business with today’s client needs.

Request a consultation with Relate!