Can Family Offices Ever Democratize Without Tax Professionals?
If you want to win Wimbledon, find out what Serena Williams has for breakfast. If you want truly satisfied wealth management clients, emulate the family office model and put tax pros in key positions.
Logisticians: Better For Family Offices than Executives?
The financial services industry seeks strong persuasion and influence traits because the welfare of their shareholders is paramount–and that means finding new clients is job #1. On the other hand, the more stable, detail-oriented and responsible Certified Public Accountant is a much better prototype for a director’s role in family offices.
Tax Professionals and the Wallet Share War
The tax professional’s unique position, a combination of deep knowledge of the client’s financial situation and inherent trustedness, gives them the opportunity to reap substantial rewards by expanding the scope of their offers, but the risks entailed are significant. The trick is to stay in the role of true fiduciary—and not try to engage in salesmanship.
The Stoic Investment Philosophy is Key to Tax Professionals Success in Financial Services
The Stoics of Ancient Rome believed that the universe is subject to logic, law and reason, which they called the logos, or underlying truth. The entrepreneurial tax professional who applies logos for their clients will be doing the clients — and themselves, a big favor.