1st Global will help your firm determine the best tactics for each of these strategies. 1st Global has incorporated the insights gained from working with hundreds of successful firms to develop and offer this Wealth Management Feasibility Analysis and Consultation™ engagement that includes:

  • Analysis of current infrastructure and potential for success in wealth management
  • Pro forma profit and loss estimates for the wealth management enterprise at one-, three-, five- and 10-year periods
  • Pro forma valuation of a wealth management enterprise
  • Demographic and geographic market research on the firm's potential client base
  • Understanding impediments to success
  • Personality and skill testing of management team
  • Regulatory compliance review of an existing wealth management business
  • Wealth management "best practices" for CPA firms
  • Development of a compelling value proposition
  • Consultation on the current and impending regulatory environment
  • Strategic firm business and succession planning
  • SWOT analysis of available business models

Projecting Pro Forma Profit & Loss
for the Wealth Management Enterprise

Determining suitable financial expectations and tracking actual performance is a challenge for CPA firms. Well-designed and well-run wealth management enterprises can generate 35 percent plus pretax margins. This type of profitability creates significant enterprise value over time. Many firms have built a wealth management enterprise with a value that is three to seven times more than that generated by traditional tax and accounting services.

Based on work the company has completed for its CPA firm clients with the assistance of consulting and valuation organizations specializing in advising wealth management firms, 1st Global uses a comprehensive valuation model to estimate current and pro forma enterprise value.

Data-rich Demographic and
Geographic Market Research

Building a successful wealth management enterprise takes specific intelligence about your firm's existing clients and target prospects. 1st Global's team of market data and research analysts use robust data-mining techniques to unleash the embedded wealth management potential of your firm's existing accounting or wealth management clients.

Individual Net Worth Profile

Individual Net Worth Profile

Individual attributes such as net worth, total assets and liquidity, using more than 30 database sources, individual-level data and advanced statistical techniques.

Aggregate Net Worth Map

Aggregate Net Worth Map

Powerful mapping technologies show where the most qualified existing and prospective clients are within your defined area of interest.

Target Market Clustering

Target Market Clustering

Existing clients are assigned to a profile, segmenting those most likely to adopt wealth management services and provide a greater understanding of their demographics and psychographics.

Strategies to Overcoming Concerns and
Obstacles Facing Today's CPAs

CPA firms looking into wealth management or other synergistic services to create sustainable growth have many concerns and face several obstacles. Your firm can leverage 1st Global's comprehensive team of experienced specialists to develop strategies for overcoming these obstacles and create a roadmap for success.

Common Concerns and Obstacles Ranked by CPAs

Common Concerns and Obstacles Ranked by CPAs

These are the common concerns and obstacles about offering Wealth Management expressed by multi-partner CPA firms in focus groups conducted in major markets. We can show you how leading CPA firms have successfully overcome these obstacles.

Climb the Four Stages of Revenue Growth

Your CPA firm's solution starts with a clear vision of what the ultimate destination should be and then carefully defining each step required to realize that vision. Based on interviews with the most successful CPA firms, 1st Global has identified four stages of business development to achieving higher revenue growth. How quickly a CPA firm advances through these stages depends on the firm's commitment and with whom they choose to partner.

Revenue Growth Through the Four Stages of Business Development

Revenue Growth Through the Four Stages of Business Development

Based on the evolution of the service models and increasing the amounts for high performance, firm revenue should grow through each stage to ultimately target $5,000 in revenue per client relationship.