spotlight
glomerate Aviva USA, explained
that his program takes and aligns
a CPA firm with an estate-planning
professional. Or the CPA can opt for
the WealthStar platform to perform
wealth management services themselves as a registered investment advisor. “Our goal last year was 50 CPA
firms, and we cut it off at 50. We’ll
have another 65 to 70 before the end
of this year,” he said.
Engebretson, who founded bro-
ker-dealer Trusted Advisors before
selling it to the MONY Group, was
brought aboard at Aviva to develop
the WealthStar program. The com-
pany currently deploys its in-house
software program to analyze client
tax data to mine wealth manage-
ment opportunities. “If you have
tax clients who do pensions or IRA
distributions of $40,000 or more,
the CPA should be looking at those
clients from a wealth management
perspective,” he said. “We’re not a
broker-dealer. In essence, we make
the CPA the quarterback bringing
in the expertise from us.”
“We’re building the [CPA firm]
program and we’re at the point
where we have to turn people down.
We’re very selective — we don’t
need it to grow to more than 300
firms. It’s more important to work
with the right firms,” he added.
New York-based Oppenheimer
has a network of some 1,600 financial advisors, but just 30 work with
CPA firms, according to managing
director Michael Parness.
“We take the time to understand
their business and what they do,”
Parness explained. Like WealthStar,
Oppenheimer pairs a CPA firm with
a financial advisor offering a turnkey wealth management program.
Currently the company’s sweet
spot are firms that bill between $2
million and $25 million.
“We want to talk with forward-looking CPAs and CPA firms. Oppenheimer has top-down support
from the CEO and offers the firms
educators from the senior ranks.
We have a professional development group and talk to [the firms]
about training them on how to
communicate with their clients,”
Parness said. “We don’t favor certain financial products, so we create
a level playing field in that respect.
Reaching
FROM PAGE 10
We provide all the reports and mar-
keting materials.”
Parness said that for the program,
Oppenheimer looks for seasoned
advisors with anywhere from 10
to 15 years experience and at least
five years with Oppenheimer: “Our
reputation is an extension of the
CPA firm. The last thing we want to
hear if something doesn’t work out
is one of our client asking us, “’Hey,
what were you thinking?’” AT
;;;;;;;;;;;;;;;;;
;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;
;;;;;;;;;;;;
Ŧ; New! ;-+.$2$," 7;;-#$*;;;
;;"-+.0$'$, 1( 4$;+-#$*;%-0;
11$11(,&;;(+.0-4(,&;; ,#;
"-,,$" 2(,&; 7-30;;;;;2-; 2 6;;;
""- 3, 2(,&; 1.$"( 2($1;; 1)(** 1;; ,#;
" 0$$0;*$4$* 1;
Ŧ; New! ONE;;;;;;:;;, 2$&0 2(-,;;
;""$11;;'$").-(, 2;;$ 0,(,&;
#(0$" 2* 7;%0-+; 7-30; ""- 3, 2;-,; 2'$;
;;;;;;;;;;.* 2%-0+;
Ŧ; New! ;-0.-0 2$;;300(" 3* 3+;;
;'$").-(, 2;;$ 0,(,&;"-301$;
-%%$0(,& 1; ,#;! 3,#*$; 13! 1"0(. 2(-,;
"312-+; 2 (*-0$#;2-; 2'$;,$$#1;-%;
;-0.-0 2$;;;; 1
Ŧ; New! ;+$0&(,&;;-301$;;-0+ 21;;
(,"*3#(,&; 2'( 1;% **81;;312;(,;;(+$;
(#$-;;-301$
;'$").-(, 2;;$ 0,(,&;;; ;#0$ +;"-+$;203$;%-0;;;;; 2 )$01;; 5( 2'; 2'$;"-+!(,$#;.- 5$0;-%;
;("0-; 1';;;;;;;;,*(,$;;;$/5(0$#; ,#;;;;;,- 5;-,;-,$;,$5;.* 2%-0+;; - 3;" ,;. 30"' 1$; ,#;
"-+.*$2$;(, 2$0 " 2( 4$;"-301$1;#(0$" 2* 7;%0-+;;'$").-(, 2;;$ 0,(,&;;$( 2'$0;(,#( 4(#3 7;-0; 1;. 02;
-%; ; 13! 1"0(. 2(-,;. ") &$;;;$*$" 2;%0-+;' 3,#0$#1;-%;"-301$1;-,; 3#( 2(,&;; 2 6;;+ , &$+$, 2;;
7$**- 5;!--);; ,#; 12 %%; 20 (,(,&;2-.(" 19 **;% 3** 7;0$#$1(&,$#;2-;$,' ,"$; 7-30;*$ 0,(,&;$6.$0($,"$;;
-38**; 1$$; 4(#$-; ,#; 3#(-;"*(. 1;; ,(+ 2$#;&0 .'(" 1;; ,#;$,& &(,&;" 1$;123#($1;;"0$ 2$#; 5( 2';
),- 5*$#&$;0$2$, 2(-,; ,#; ..*(" 2(-,;(,;+(,#9.* 31;;"-301$1;,- 5;*(,);2-;0$* 2$#;;'$").-(, 2;
0$1$ 0"'; ,#;& 3(# ,"$;;
;,; ##( 2(-,;2-; 2'$;!$12;(,;-,*(,$;"-301$1;;;'$").-(, 2;;$ 0,(,&;.0-4(#$1;;;;;"-+.*( ,"$;
20 ")(,&;;*$ 0,(,&;+ , &$+$, 2;;"300(" 3* 3+;#$4$*-.+$, 2; ,#;+ 3"';+-0$;
;%$);;);*(;;);800.231.1860;)%;; (;*((;-%*';)'; $;;$;;(;;$;;;* ";;;;";;'$ $;;&";$;) ;).(;' );;%';-%*;;
%';);!;;;;)%*';%;;; ;!&% $);;;;'$ $;;;$;;(;;#%';;%;;%*';;$ ;$;;;;;%*'(;;;;)*';(;;;;";;);/;;#%0;)%;
+ ,;) ;;$ #;);;;&'%;*;);;;#%$()';) %$;;);; cl.thomsonreuters.com/intro
TAX & ACCOUNTING
;;;;;;;;:;;;;'-+1-,;;$32$01;;;'$").-(, 2;;;("0-; 1';;;;;;;;,*(,$;;;$/5(0$#;; ,#;;;;;
0$;0$&( 12$0$#; 20 #$+ 0) 1;-%;;'-+1-,;;$32$01;;; 6;;;;""- 3, 2(,&;;;,";;;**;0(&' 21;0$1$04$#;
