No matter what type of advisor you are — Accountant, Attorney or Financial Advisor — there are a number of reasons to place your customers with Commonwealth Cash Management.
Most importantly, CCM enables you to harness the power of our account consolidation technology, Client Assistants and mycashmanageronline.com (our 24/7 customer account access portal). As a result, we can be the hub for your customer's strategic planning process, with all professional advisors contributing their insight based on the same information.
Make better choices, give better advice and better emulate the "family office" model favored by America's oldest and wealthiest families: It's all possible with CCM.
Please choose from the below to learn about audience-specific benefits of partnering with CCM.
Accountants
Advisor Partner Accountants enjoy the true fruits of CCM's data aggregation and transaction-level recordkeeping. With your customer's approval, at the end of each period (monthly, quarterly or annually), we will compile a complete set of:
- consolidated profit & loss statements,
- balance sheets or net worth statements,
- detailed and reconciled account registers, and
- other reporting you need to help streamline your customer service process.
Quarterly, we can provide all records necessary to help you determine estimated tax payments. With your customer's authorization, any other information you need will be available via mycashmanageronline.com.
Annually, we can reconcile all investment account activity versus the custodian-prepared tax forms and provide you with other deduction-related spending records for quick and easy tax schedule preparation.
These services are applicable whether your customer is a Personal Cash Management or Business Bookkeeping customer. Referring your customers to CCM helps keep everyone on the same page, thus enhancing your quality of communication and avoiding the dreaded April 14 shoebox receipt dump.
By offering CCM's services in tandem with your own, you combine high-quality, cutting-edge bookkeeping services with your firm's talent and expertise. The result: increased efficiency for your firm, greater peace of mind and organization for your customer, and a powerful value proposition for prospective customers looking for a one-stop shop for all their recordkeeping and tax accounting needs.
Attorneys
As an Attorney, you are often called upon to provide detailed accountings to the courts to settle estates and conservatorships. You may also find that to preserve an estate, trust or other wealth-preservation vehicle, you or your customer's trustees, executors or conservators require accurate records of all transaction details.
CCM can help in this regard by offering a greater transaction-level perspective on all account activity, including cash and cash-equivalent detail. You can quickly and effortlessly access this information in a professional form, with supporting documentation presentable to any court of law. And since this task is necessary yet outside your area of expertise, outsourcing it to CCM allows you to refocus your energies on your customers, their needs and the growth of your practice.
Financial Advisors
As a Financial Advisor, the more you know about your customer, the better you can serve him or her. That's why it is so important to understand your customer's goals, budget and income requirements, risk tolerance, financial behavior, level of organization and penchant for details.
With CCM (and your customer's authorization), you can see your customer's financial "big picture" by accessing mycashmanageronline.com and/or consulting with our Client Assistants. This means augmenting the power of cutting-edge cash management, wealth management and data aggregation tools with the personal touch that will give you greater insight into your client’s finances. By adding this additional value to your service offering, CCM can help make your client relationship even stronger.