There are times in life when you need an accountant. Then there are other times you need a financial planner.
But what if you could have access to both services at any one time?
As after all, they do go hand-in-hand.
Blending the two services into a one-stop-shop for clients provides a holistic approach to financial management, that has many benefits for the client.
After all, providing superior customer outcomes is what we are all about.
The benefits of an integrated accounting/financial planning model
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Increased efficiency
First and foremost, it provides increased efficiency on a day-to-day basis.
One provider for all areas of accountancy and financial planning provides consistency. Clients have one key contact within the business and know all their information is in one place.
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Better relationships
Again, by providing a suite of services across the life cycle of clients, there is the opportunity to garner stronger relationships and to build trust throughout the years.
This allows the service provider to provide solutions for growth and anticipate the next cycle of their client’s journey and provide adequate services in response.
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Decreased double-handling
Having an integrated provider will drastically cut down the amount of double-handling – especially when it comes to the time-consuming administration. All of which will save time and money for the client.
Ultimately, it means less to and fro between providers and suppliers for the same information.
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Greater mix of minds
Having a suite of specialised accountants and financial planners in one place means access to a greater wealth of knowledge and experience in one room.
You’ll have access to varying ideas and approaches who can bounce ideas and strategies off one another in pursuit of the best outcome.
The access to more minds the better!
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A coordinated approach
We have left the best part for last. As for us, accounting and financial planning go hand-in-hand.
As we prepare for your annual tax return, at the same time we take into account any major financial moves you may be considering in the future.
For example, one of our clients is looking to offload an investment property in the near future. As their financial planner, we can help advise on the pros and cons of selling an investment property based on the client’s short and long-term goals, whilst taking into consideration the tax implications of selling an investment property – both on the current and future financial years.
It provides a holistic and coordinated approach to their financial wellness in the most tax-effective way.
Integrating accounting and financial planning really is the way of the future for firms wanting to provide a holistic approach to managing their client’s financial needs throughout their entire life cycle.
It’s the start of a partnership that will see integrated firms onboard clients at the start of their financial journey, through to, and beyond retirement.
Yet it is surprising how rare this is in our country.
So often, clients hear ‘Sorry, that’s beyond our scope of expertise – you’ll need to consult your financial planner/accountant for that’.
That’s one phrase you won’t hear here at Fusion.
You’ll have access to all the expertise you need in one place. Guaranteed.
To discuss your financial planning and accounting needs in one place, get in touch with us and make an appointment.
