Northbrook Financial Advisor Presents at Illinois CPA Society
Each year the Illinois CPA Society sponsors the Business and Technology Solutions Show at the Donald E. Stephens Convention Center in Rosemont. The program is held to assist finance and business professionals in improving their bottom line. During this year’s session on August 22-23, nine tracks of education were held in areas including corporate finance, tax, accounting, consulting, and auditing.
With many CPAs entering the financial planning profession, Patrick L Doland, CFP™, and president of Northbrook based Reason Financial Advisors, Inc., was invited to share his experiences with several hundred attendees on how to build a successful practice. During the session entitled, “Anatomy of a Financial Planning Process”, Doland stressed the importance of using an engagement agreement with all clients. He went on to itemize the key steps in preparing a comprehensive financial plan and also shared his insight with the attendees in selecting an appropriate compensation model, software considerations, staffing issues, and potential service offerings.
Doland told the attendees “many professionals are only concerned with managing a client’s investment portfolio”. “To really add value for a client,” he went on to state, “you also needs to prepare a written detailed plan that examines all other areas of their financial life such as retirement projections, risk management, income tax planning, education planning and estate planning.”
Doland works with many northern Cook County and Lake County families in building and maintaining their wealth. He is a member of the National Association of Personal Financial Planners (NAPFA) located in Arlington Heights and serves on their Midwest Regional Board. NAPFA was founded in 1983 and is the largest professional organization representing comprehensive fee-only financial advisors. NAFPA members are prohibited from receiving compensation other than client fees and are, therefore, not compensated by the sale of products they recommend.
Reason Financial Advisors, Inc. is an independent, fee-only financial planning and investment advisory firm and works primarily with individuals and families in the Chicago metropolitan area on their financial planning and investment management needs.