Though Artificial Intelligence is poised to deliver large portions of the services the financial services industry currently delivers, William Taylor of Taylor CPA & Associates simply makes note and innovates. Specifically, the firm has finetuned its consulting and advisory services which allow it to help clients develop sound processes for managing their businesses, finances and wealth. The staff, a functional blend of CPAs, CFPs, MBAs and intuitive automation, can advise on saving tax dollars whenever and wherever possible, increasing net worth, year after year, utilizing retirement plans, insurance, real estate, or family-owned business; or acquiring wealth to provide for future needs, such as a growing family, college tuition, travel, or a second home. And while competition from DIY financial products is growing, it has challenged the firm to become more efficient, effective and attentive to the intrinsic value of human capital — like only a face-to-face hash-out session can deliver.
Our understanding of technical and compliance matters allow us to build higher levels of trust with our clients. As a result, we’ve added services over the years resulting in our roles being moved more to that of advisor or a CFO. In essence, we are on the ground with the client and sitting next to them when it’s time to make decisions. Because more clients are seeking this type of service we’ve had to invest in recruiting in order to compete with larger organizations for the most talented individuals.
Early Pain Points
We embarked upon a joint venture to assist a client with a project relating to an area in which we did not readily have expertise. With the client’s approval we outsourced certain components of the project to another firm with the expertise we lacked. Unfortunately, the partnership was ultimately unsuccessful, and the client held us accountable. The experience forced us to rethink our growth and development strategies. We have since found success by establishing mentorship relationships with other firms and investing in more advanced continuing education training for our own staff. We learned that it is important for the firm to be able to directly manage projects to ensure we deliver the experience and quality they have come to expect.
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