Wealth Management, With or Without a CPA

How to Get Involved and Grow a Practice

Daniel J. Griesmeyer, CPA, CIMA, and George Spiropoulos, CFP, CIMA

I recently came across an advertisement for an upcoming meeting of the Nassau–Suffolk Chapter of the National Conference of CPA Practitioners, titled “Expanding Your Practice—How to Offer Additional Services and Get Paid for Them.” This caused me to reminisce on my time as a partner in my family's CPA firm. Although we were tremendously effective at maximizing revenue via our core competencies, this left little time for additional growth. At partner meetings we would ask, “How can we grow by further monetizing our trusted client relationships?” The impediment was the lack of time required to deliver additional services with the same high-caliber, technical proficiency that clients had come to expect. In the end, we found a way to generate growth each year by penetrating the wealth management market.