4 Benefits of Working with an Experienced CPA Firm


When you’re looking for a CPA firm, it can be hard to know where to start. It’s important to note, however, that not all CPA firms are created equally.

Most CPA firms focus on a handful of industries and business types; it’s important to find one that counts RIA firms among its clients. Working with a CPA firm that understands the financial services industry means you’ll work with a CPA who is familiar with the types of issues you face—and offers RIA tax solutions to solve them.

Here are a few benefits of working with an experienced CPA firm.

Clarity into your RIA firm’s cash flow

Timely financial statements are critical not only for complying with the SEC’s Books and Records Rule but also making sound business decisions. An experienced CPA firm will ensure your records are kept up to speed, giving you insight into your current cash flow—right when you need it.

Know the tax implications of your decisions

Experienced CPAs do more than provide compliant and timely financial statements; they also provide you with expert tax advice. A CPA firm that provides RIA tax solutions can help you understand the tax implications of any business decision. At Elevate, for instance, we regularly meet with our RIA firm clients to prevent tax-planning surprises at the end of the year.

Build your most valuable asset

Working with an experienced CPA allows you to make the most of your RIA firm. This begins with your entity selection. A CPA who understands the financial services industry can advise on the right entity selection for your goals, whether that’s making a comfortable living or eventually selling your RIA firm. An experienced CPA firm can also help you understand the value of your RIA firm and how to build it as an asset.

Find peace of mind

The most valuable benefit of working with an experienced CPA firm is having access to their expertise. CPAs who work with other RIAs can offer strategic advice and share best practices gleaned from similar experiences. Most important, they bring perspective to any situation, allowing you to make informed decisions that lead to peace mind.

To learn more about how we can benefit your RIA firm, contact us today.