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Glass Jacobson | Top 150 CPA Firms by Assets Under Management

Michael W. Cohen, CPA, CGMA Investing, Glass Jacobson News Leave a Comment

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We are excited that Glass Jacobson Financial Group is listed in Accounting Today’s 2018 list of top CPA RIA firms by regulatory assets under management. You can download the full list here (PDF) and we’re on the fourth page in the $100 Million Plus Club.

This list of ‘Wealth Magnets’ is a ranking of the leading CPA firms in financial planning - worldwide. It is an honor to be recognized and shows our commitment to financial services and to the financial success of our clients.

Why we started our wealth management division

Before we started offering wealth management services, while preparing our clients’ tax returns we would often see large investment losses from the sales of securities. In years when our clients did realize profits on securities sold, it seemed that when making portfolio management decisions, their investment advisors were not factoring in the potential 20%–40% taxes on those sales.

It sickened us to see our clients give their money to brokers who would gamble away their savings buying and selling stocks. These brokers were trying to time the market without considering income taxes.

As our goals are to help our clients build their businesses and minimize their taxes, we wanted to help them avoid these unnecessary costs. So in 2001 we began building our own team to help our clients protect and build their wealth. Our goal was to manage portfolio risk prudently - and to minimize all investment costs.  

By providing these financial services in-house, we could offer coordinated, holistic financial advice to our clients. This would serve to increase their chances of successfully reaching their financial goals.

What are some advantages of using a CPA financial advisor?

Tax efficiency

One of the biggest costs of an investment portfolio is the amount you have to pay in taxes. Taxes are usually significantly higher than management fees and transaction fees. A tax oriented financial advisor will take this into account when managing your investments, while a broker may not.

Long-term strategy = lower overall fees

Prior to us providing investment management services in-house, we had a close working relationship with an independent fee-only advisory firm. We felt they were a smart choice for our clients as they shared our same passive investment philosophy: a sound, long-term growth strategy. However, over time we noticed their shift to a more tactical approach: actually day trading the passive index funds and ETFs they had previously held long term. They explained this change in portfolio management by saying it justified the management fees they charged by showing how hard they were working.

A CPA financial advisor knows that even if those tactics are successful, their short-term gains are subject to higher ordinary income tax rates. These taxes eat away at the gains that are realized, when compared with lower long-term capital gains rates. 

A day trader may appear to be working harder and putting in more effort, but is that really where the value comes from? No, the value comes from long-term results. A CPA advisor does not seek to provide the appearance of success, but the real thing!

Process-oriented approach

A CPA firm manages your money based on a tried and proven strategy - not by gambling-based speculation. Glass Jacobson takes your specific life goals and tolerance for risk into account to determine an investment strategy that’s best for you.

Who would you rather give your money to? Someone who ‘promises’ to beat the market? Or someone who helps you to define your life goals clearly, and develops a strategy to help you meet them?

How do we meet the fiduciary standard?

Our clients are further reassured of our integrity thanks to Glass Jacobson Financial Group being part of an elite group of investment advisors who have successfully completed the Centre for Fiduciary Excellence’s independent certification process. This recognition validates something we already knew—we hold to the highest fiduciary standards and always act in the best interest of our wealth management clients.

Want to learn more about how you can meet your financial goals with our holistic and tax-efficient wealth-building strategy? Contact Glass Jacobson today for a free consultation.

About The Author

Michael W. Cohen, CPA, CGMA

Shareholder, CFO Learn More>>


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