Why Do Most Tax Professionals Fail When Adding Financial Services To Their Practice?
By: Nick Hodges, CPA/PFS, MBA, CFP^®
"The Lazy CPA"

Three Essential Resources For Success
It has been noted that the average financial planning revenues for a tax professional languish somewhere around the $5,000 per year mark. As I talk with tax professionals around the country, I have found that folks operating at that level of productivity hardly consider their addition of financial services a success because the costs of licensing, insurance and training sessions are barely covered. Since 1999, I have been involved in helping tax professionals understand how best to successfully add financial services to their tax practices. From extended contact with tax professionals nationwide, we have estimated that the average active tax practice has the potential of generating as much as $250,000 each year in gross dealer concessions. Of course, some tax professionals have substantially exceeded this amount. However, I believe that with the right resources in place, you can find the success you desire in adding financial services to your tax practice.

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