Ep 025: Leveraging A TAMP To Roll Out Wealth Management Services In A CPA Firm with Tim Delaney
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 20 June 2017
⏱️ 95 minutes
🧾️ Download transcript
Summary
Tim Delaney had a bit of a different journey into financial planning, but his 23-year career as a CPA was excellent training. After a few years doing both taxes and planning, clients started telling him they slept better at night because of his help managing life’s financial ups and downs.
In this episode, Tim shares the negative investing experience that made him want to focus on a no-selling value proposition, and how he learned not to over-explain the planning process to clients.
Be sure to listen to the end, where Tim describes the essential partnerships along the way that have allowed his business to flourish and weather several recessions, all while providing clients with excellent service.
Get the full show notes and transcript for this episode at: www.kitces.com/25
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner, |
| 0:08.4 | speaker and consultant Michael Kitsis to hear stories of how leading financial advisors |
| 0:13.6 | navigated the inevitable challenges that arise on the path to success and get insight from leading |
| 0:19.2 | industry consultants about how to break through to the |
| 0:22.0 | next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:29.3 | Welcome to the 25th episode of the Financial Advisor Success Podcast. My guest in today's podcast is |
| 0:36.0 | Tim Delaney. Tim is the co-founder of J.D.H. Wealth Management, |
| 0:40.1 | an independent R.A. in Northern California that oversees nearly 200 million of assets for |
| 0:45.6 | 120 affluent clients and 401K plans. But unlike most financial advisors who started out selling |
| 0:52.6 | life insurance or mutual funds, Tim began his |
| 0:55.7 | career as a CPA. And it wasn't until after nearly 20 years of experience doing accounting |
| 1:01.5 | and tax preparation that he decided for the first time to launch a wealth management firm |
| 1:06.1 | from within the existing accounting business, with the goal of leveraging the firm's |
| 1:10.6 | existing relationships with his tax clients to begin doing investment management. within the existing accounting business, with the goal of leveraging the firm's existing |
| 1:10.9 | relationships with his tax clients to begin doing investment management. And in this episode, |
| 1:16.8 | Tim talks about the transition from tax preparation to wealth management, why he decided from day |
| 1:22.0 | one to build his wealth management business on a third-party TAMP platform, despite the fact that |
| 1:27.2 | it would take a material |
| 1:28.3 | chunk of his long-term revenue, and how he structured the wealth management firm as a separate |
| 1:32.5 | entity from the tax practice, and why he ultimately decide to buy out the wealth management |
| 1:36.9 | division and part ways from the accounting firm after more than a decade, which, as it turned out, |
| 1:42.5 | just accelerated the growth of the wealth management |
... |
Transcript will be available on the free plan in -2839 days. Upgrade to see the full transcript now.
Disclaimer: The podcast and artwork embedded on this page are from Michael Kitces, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Michael Kitces and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.