Financial News
,Accounts and Clients
Most of your accounting practice clients probably have one of two types of investment portfolios:
Type 1: An amalgamation of seemingly random and uncoordinated investment instruments acquired at different times from different providers (a “junk drawer” of financial assets).
Type 2: A professionally managed portfolio allocated based on risk tolerance and objectives, and diversified by asset type (using a Strategic Asset Allocation or “Modern Portfolio Theory” approach).
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Financial News
,Accounts and Clients
As a CPA, you probably frequently come across clients that have questions related to saving for retirement, college, or other investment goals. Your clients don’t necessarily know that while this is peripherally related to your services, it really is a specialty of its own. But they trust you, and so they ask. In most cases, the best way to help your client in this situation is to refer them to a specialist financial planner, wealth manager, or investment advisor that you yourself trust. This is because while regularly saving an arbitrary amount is better than doing nothing, your clients cannot achieve their goals if they have not defined them and constructed an appropriate plan to pursue them. They will need professional assistance to help them quantify their objectives, determine what is realistic, and develop a flexible systematic investing plan for execution. Their financial services professional should follow a process like that described here:
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