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Dec 4, 2013 1:18 am


I know it has been a few years since you posted your question about becoming involved with investments as a CPA. I just wanted to know if you ended up becoming licensed with HD Vest or another Broker-Dealer and, if so, do you find yourself more as a CPA or are you fully engrossed with your clients’ financial planning? Thanks!

May 23, 2018 3:59 am

Privatclientgroup wrote:

The HD Vest model gets CPAs into the business but gives them very little support. It also limits them to only what HD Vest offers. I don’t know where you are located but the model is built for middle America, it doesn’t work very well when you are working with higher net worth, more sophisticated clients. We believe that the co-source model works much better—set up a financial services LLC, an RIA, and an insurance agency. Then have a list of several outsource partners for each. The outsource partners do the work and you split fees 50/50. You can find more details about this model in the book “Accountants as Wealth Managers” co authored by our managing partner Richard Urbealis.

Regards, Matthew Tuttle Private Client Group, LLC

Hi, I was interested in learning more about the outsourcing. Can anyone set up a financial services LLC, an RIA, and an insurance agency?

Which outsourced partners are willing to do that? Do you have a link?