The CPA as the “Wealth Custodian”
Once fixated on “What Happened”
Now focused on “What’s Coming”
46% of a typical U-HNW family portfolio comprises of complex alternative investments.
60% of the CPAs feel they are not maximizing business opportunities with their wealthy clients.
90% of the CPAs acknowledge difficulty in sourcing new U-HNW clients
You’re face to face with a U-HNW client reviewing recent developments in their financial life. They’ll want to know what happened to this investment or that asset. But more importantly, they’ll want to know what’s coming.
U-HNW families today want more from their accountant they’ve always depended on. They want a “wealth custodian” whose skills they trust and foresight they cherish. Asset Vantage will equip you to undertake this professional transformation.
Increased focus on alternative investments means that financial advisors now have a less holistic view of U-HNW families’ finances.
That’s good news for accountants seeking to grow their relationship with U-HNW families and enhance the services they can provide them.
Accounting firms can now provide a consolidated view across multiple entities on a single platform covering both liquid and illiquid asset classes. Further, accounting firms can access fully automated GL investment accounts and provide institutional grade investment performance reports.
Accounting firms can minimize their manual work, as the AV platform provides data aggregation and reconciliation services. In addition, our Data Management Services can allow accounting firms tackle busy periods and free bandwidth at critical times for more urgent matters.
Accounting firms can build deeper relationships with their clients by offering them integrated Partnership Accounting along with Look – Through – Reporting and automated US tax reports and 1099 reporting – all this in a highly secure environment possible through private URLs, controlled access to reports, etc.