An Accounting + Financial Services Business Model with Trent Benedetti, CPA, CFP, IAR


Manage episode 291312832 series 2582632
By Dan Cuprill and CFP. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Today we’re excited to bring on a good friend and a successful business owner who’s managed to merge different practices into one operation.

Trent Benedetti, CPA, CFP, IAR, owner of Benedetti Financial is our guest on this episode of the Profitable Advisor and he’s a perfect example of how to provide multiple services for clients. He started with nothing and very quickly was able to wed tax planning and accounting with financial services and managing assets. It’s a model that every accountant should consider adopting and we’ll get into how he’s been able to accomplish it.

We’ll discuss some of the most important topics like marketing, referrals, client relationships, and overseeing two different businesses during the conversation, and Benedetti is someone that everyone can pick up a thing or two from.

So as you go through the episode today, keep an ear out for some of these topics that we cover:

  • The story behind his decision to add the financial services to his accounting business.
  • Why referrals won’t necessarily slow down like some people fear.
  • How to discuss strategies with clients and why the media’s role isn’t in your best interest
  • Stock picking and market timing.
  • Why it’s so important to run multiple simulations and prepare clients for the range of returns.
  • Targeting small family-owned businesses and how he markets to those through marketing.
  • The changes he’s made because of COVID and what he might continue using.
  • How he’s gone about balancing two different businesses.

For more on this topic and other strategies to growing your business, join us over at

What we discuss on this episode:

1:35 – Welcome in Trent

3:00 – How long did it take to expand into financial services?

4:16 – Blending the two together

7:03 – Referrals

9:36 – Investment advice and strategy

19:30 – Stock picking vs active management

21:46 – Stress of a market-timing approach

23:58 – Story about a vendor meeting

27:22 – Running multiple simulations

33:00 – Targeting small family-owned businesses

35:08 – The burden of COVID on the business

39:49 – Balancing two companies

43:50 – Maximizing the value of your business

99 episodes