Life Insurance -- The Often Missed Opportunity For Wealth Management Accounting Practices

For those accounting firms that embrace wealth management, the focus of their efforts, many times, is on asset management. There are a number of reasons for making investment advisory services central to their efforts including: Consistent revenues: Investment management is a retainer business compensated by success. Over time, the accounting firm can accumulate substantial assets under management resulting in reliable and significant revenues. The bull market: With the indices periodically reaching new heights, investing monies is appealing as the appreciation of client’s assets results in more revenues without the need to attract new clients. Client insight: Many accountants know how a client is doing when it comes to investing. This provides them the possibility of capturing assets from underperforming financial advisors.