How to Offer Financial Advisory Services & Grow Your Bookkeeping Business 

The world of bookkeeping is entering an era where it is undergoing a significant transformation, spurred by advances in technology and changes in business practices that isn’t ending anytime soon.

Are bookkeepers going to become obsolete? Not likely, as the task bookkeepers do will still need a human touch for the foreseeable future. However, some of the tasks are becoming more and more automated. 

This means you might find yourself needing more clients to make the same amount, or charge more per client, losing some competitive edge if you’re only offering standard services.

There is possibly though that with this rapidly shifting technology that something new is right around the corner. It’s incredibly important to future proof your business now more than ever. How do you distinguish yourself from both the crowd and software? 

One way to make yourself indispensable is by offering advisory services tailored to the very specific needs of each individual business you work with based on the specific story their financial ledger tells. 

Personalization is trending, and I’m sure you can see why, and it’s so much more than a monogrammed bag or using their name in a quick video. 

To thrive in this evolving landscape, bookkeepers must expand their service offerings beyond traditional bookkeeping. Clients today are seeking comprehensive financial solutions, and diversifying your services can unlock new avenues for business growth. 

Fast Pass to Success

Need a little help learning how to offer Financial Advisory Services? No problem! Masten Solutions offers a course that teaches you everything you need and is taught by expert CFO Ina Masten!

What are Financial Advisory Services?

For bookkeepers exploring the realm of Financial Advisory Services, it’s about expanding your scope beyond traditional financial management. 

Financial Advisory Services involve providing strategic guidance on aspects like budget variance, forecasting, sales analysis, expense analysis, capital reviews, debt reviews, workforce planning scenarios, and more. 

As a bookkeeper, this extension of services means offering clients a holistic approach to their financial well-being. It’s about becoming a trusted partner, leveraging your financial expertise to help clients make informed decisions, optimize their investments, and secure their financial future. 

By integrating Financial Advisory Services into your offerings, you not only enhance client relationships but position yourself as a comprehensive financial ally.

The Demand for Comprehensive Financial Advisory Services

In today’s fast-paced business landscape, entrepreneurs and small business owners face seemingly endless financial challenges that make or break their businesses.

Most business owners have no clue what they are doing. They typically wear so many hats, that figuring out how to do all the details of their business finances is a no go. 

They need not only accurate financial records but also strategic guidance to make informed decisions. This growing demand has created a significant opportunity for bookkeepers to diversify their services and offer comprehensive financial advisory solutions. 

By expanding beyond bookkeeping, you can position yourself as a trusted financial partner, helping clients navigate their financial journeys more effectively. Your foot is already in the door and you already have access to their finances. It’s a no brainer to most. 

Benefits of Offering Financial Advisory Services Alongside Bookkeeping

Here’s a list of some awesome benefits your clients will experience once you start offering financial advisory services as a bookkeeper.

#1 Enhanced Value 

By providing comprehensive financial solutions, you become an indispensable financial partner, offering more value to your clients.

#2 Client Trust 

Diversifying your services demonstrates your commitment to your clients’ financial success, fostering trust and long-term relationships.

#3 Increased Revenue

Financial advisory services often command higher fees, contributing to increased revenue and profitability for your business.

#4 Competitive Advantage 

In a crowded market, offering more than basic bookkeeping sets you apart and positions you as a one-stop financial expert.

#5 Diverse Skill Set

Expanding your expertise to financial advisory services broadens your skill set and professional development.

#6 Business Growth 

As word spreads about your comprehensive services, your client base is likely to expand, contributing to the growth of your bookkeeping practice.

Meeting Client Needs

One of the key roles in financial advising is understanding and assessing the unique financial goals and challenges of each client. 

To effectively serve your clients, take the time to engage in in-depth conversations that reveal their aspirations, concerns, and current financial circumstances. 

Ask questions and actively listen to their responses, allowing them to share their short-term and long-term financial objectives. 

Some common financial goals and challenges your clients might express include:

Saving for Retirement 

Many clients seek assistance in preparing for retirement by building a comfortable nest egg and developing a retirement income strategy.

Debt Management

Clients may need guidance on reducing and managing debts, including credit card debt, student loans, and mortgages.

Investment Objectives

Clients with substantial assets might require investment advice to grow their wealth and protect it from market volatility.

Tax Planning 

Clients may seek strategies to minimize their tax obligations and optimize their financial planning within a tax-efficient framework.

Risk Management 

Clients often desire risk assessment and strategies to mitigate financial vulnerabilities, such as disability, life insurance, and estate planning.

Business Growth

For small business owners, advice on business growth, expansion, and funding may be pertinent.

Tailoring Advisory Services to Address Specific Client Needs

Tailoring Advisory Services to Address Specific Client Needs

Once you’ve identified your clients’ unique financial goals and challenges, your role as a financial advisor is to customize your services to address their specific needs. 

As I mentioned earlier in the blog post, tailoring your services not only creates more value for your clients but also sets you apart in a competitive market, as well as keeping yourself indispensable and as close to irreplaceable by technology as possible.

Here’s some ways you can do this:

Custom Financial Plans

Develop personalized financial plans that align with your clients’ goals and circumstances. Consider their risk tolerance, time horizons, and financial priorities when creating these plans.

Investment Strategies 

If your clients seek investment advice, tailor investment strategies to match their preferences and objectives, whether it’s growth, income, or preservation of capital.

Tax-Efficient Solutions

For clients interested in tax planning, create tax-efficient strategies that help them minimize their tax liabilities while staying compliant with tax regulations.

Retirement Plans

Customize retirement plans that account for your clients’ projected retirement age, income expectations, and lifestyle choices.

Debt Reduction Strategies

Develop plans to help clients reduce their debts, guiding them through debt consolidation, repayment schedules, and financial discipline.

Enhancing Long-Term Client Relationships

By offering tailored financial advisory services that meet your clients’ specific needs, you can significantly enhance long-term client relationships. 

Demonstrating your commitment to their financial success and well-being fosters trust and loyalty. Additionally, your clients are more likely to refer your services to others, further expanding your business potential! 

If you’re successful enough, it brings you the opportunity to create your own agency by hiring others to join your business. (unlimited business potential!)

Regularly revisit your clients’ financial plans to adapt to changing life circumstances and financial markets. Maintain open lines of communication, seek their feedback, and provide ongoing support, reinforcing the idea that you’re their trusted financial partner through every stage of their financial journey.

Competitive Advantage

Diversifying your service portfolio to include financial advisory services can provide your bookkeeping business with a significant competitive edge. Many bookkeepers focus solely on transactional tasks, such as data entry and financial reporting. 

By offering comprehensive financial advisory services, you position your business as a one-stop solution for all your clients’ financial needs. This added value can help you stand out in the market and attract clients who seek more than just basic bookkeeping.

By blending bookkeeping with financial advisory services, you demonstrate a deeper understanding of your clients’ financial goals and can provide holistic solutions.

Marketing Your Expanded Services to Attract New Clients

Marketing Your Expanded Services to Attract New Clients

Once you’ve expanded your service portfolio to include financial advisory services and other specialized areas, effective marketing is crucial. You want potential clients to be aware of the additional value your business offers. 

Here’s how you can market your expanded services:

Update Your Website 

Revamp your business website to reflect your new services. Clearly communicate the benefits of your bookkeeping and financial advisory offerings. Use client testimonials and case studies to showcase successful outcomes.

Content Marketing

Develop content that educates your audience about the importance of financial advisory services and other specialized areas. Create blog posts, e-books, or videos that explain complex financial concepts in a simple and engaging manner.

Social Media 

Utilize social media platforms to share your expertise. Create informative posts and host webinars to attract and engage your target audience.


Attend industry events, join professional associations, and network with local business organizations to increase your visibility and establish connections. These connections can lead to valuable partnerships and referrals.

Referral Programs

Encourage your existing clients to refer others to your expanded services. Offer incentives, such as discounts on future services or other rewards, for successful referrals.

Email Marketing

Send newsletters to your client list, informing them about your expanded services and how they can benefit. Share success stories and case studies to showcase your expertise.

Online Advertising

Invest in online advertising through platforms like Google Ads and social media advertising to target potential clients searching for financial advisory services.

By effectively marketing your diversified services, you can attract new clients who are seeking a comprehensive approach to their financial needs. This expanded clientele can help your business grow and thrive in a competitive bookkeeping market. 

Trust and Credibility

Trust is the cornerstone of any successful financial advisory practice, afterall finances are a very vulnerable thing to bring someone else into for many people and businesses alike.. 

Clients must have confidence in your ability to provide sound financial guidance, manage their assets, and help them achieve their financial goals. 

Without trust, clients are unlikely to follow your recommendations or remain loyal to your services. When it comes to financial advisory services, trust is everything.

In financial advisory services, trust is built on several key principles:


Be transparent about your qualifications, fees, and potential conflicts of interest. Clients appreciate honesty and openness.


Respect client confidentiality and privacy. Ensure that their personal and financial information remains secure.


Always act in the client’s best interest. Avoid any conflicts of interest that could compromise your objectivity.


Demonstrate your competence by providing well-informed, well-researched financial advice.


Maintain open lines of communication with your clients. Ensure they are informed about their financial status, the progress of their investments, and any changes in the financial landscape.

Trust Through Knowledge

To earn the trust of your clients in the field of financial advisory, you need to showcase your financial expertise and prove that you are committed to their financial success. 

Here’s how:

Continuous Learning

Stay up-to-date with the latest financial trends, regulations, and investment strategies. Continuous learning and professional development are crucial to remaining a trusted advisor.

Customized Solutions 

Tailor your financial advice to each client’s unique circumstances and goals. There is no one-size-fits-all approach in financial advisory, and clients appreciate personalized solutions.

Data-Driven Decisions 

Base your recommendations on data, research, and analysis. Show clients the rationale behind your advice.

Risk Management

Help clients understand and manage risks associated with their financial choices. Transparency about potential risks builds trust.

Long-Term Perspective 

Encourage clients to take a long-term view of their finances. Assure them that your advice is aimed at their financial well-being over time, not short-term gains.


Be forthright with clients about the successes and setbacks of their financial decisions. Transparency in both good and challenging times reinforces trust.

Leveraging Strengths

Professional credentials, certifications and continuous learning can go a long way in building trust and credibility in your financial advisory services. These credentials demonstrate your commitment to excellence and your expertise in the field. 

In addition to these certifications, industry recognition and awards can also bolster your credibility. Highlight any recognition you’ve received in your marketing materials and on your website. This social proof can help potential clients feel more confident in your abilities.

The positive experiences of your clients are powerful tools for attracting new clients. Encourage satisfied clients to provide testimonials and share their success stories. Use these testimonials on your website, in marketing materials, and in your social media campaigns. Real-world success stories serve as powerful endorsements of your services and demonstrate the value you provide to clients.

By implementing these marketing and positioning strategies, you can effectively promote your financial advisory services, differentiate your business from competitors, and attract clients seeking comprehensive financial solutions. In the next section, we will discuss the importance of streamlining your workflow and ensuring efficient service delivery as you expand your bookkeeping business.

Remember that trust is not built overnight; it’s a continuous effort. Consistently providing valuable advice, delivering on promises, and maintaining the highest ethical standards will strengthen trust and credibility in your financial advisory practice. 

Integrating Advisory Services Into Your Existing Workflow

Integrating financial advisory services into your existing bookkeeping practice is a strategic process that requires careful planning. 

You can start by identifying which of your current bookkeeping clients could benefit from financial advisory services. Look for clients who have expressed an interest in financial planning, tax strategies, or asked for advice.

Initiate conversations with these clients and potential clients about the value of financial advisory services. Offer complimentary consultations to discuss their financial goals, challenges, and how your advisory services can help them.

Develop personalized financial plans for clients based on their unique needs and objectives. These plans should outline the financial services you’ll provide and the expected outcomes.

Gradually introduce financial advisory services to your existing clients, ensuring a seamless transition from bookkeeping to advisory. Communicate the changes clearly and provide guidance on what clients can expect.

Schedule regular review meetings with advisory clients to assess progress, make adjustments to financial plans, and ensure that they stay on track toward their goals.

Keep the lines of communication open with clients, addressing any concerns, questions, or changes to their financial situation promptly.

Pricing Structures

Pricing your financial advisory services requires careful consideration. Below I’ve listed the strategies you have to mix and match for pricing, although at Masten Solutions in our Trusted Advisors Program we recommend the Monthly model. This is like using the retainer model with fixed fees with a fee structure mix. This gives your clients options, and guarantees you and your clients the best bang for your buck. 

Value-Based Pricing

Consider pricing based on the value you provide to clients. If your advisory services significantly impact their Financial well-being, you can justify higher fees.

Hourly Rates 

You can charge clients based on the number of hours spent on advisory work. Ensure you have a transparent billing system to track and report hours accurately.

Fixed Fees

Offer clients a fixed fee for specific services or comprehensive financial planning. This approach can simplify billing and provide cost predictability for clients.

Retainer Model

Some advisors use a retainer model, where clients pay a recurring monthly or annual fee for ongoing advisory services.

Fee Structure Mix

Combining different pricing models can provide flexibility for your clients. For instance, charging an initial planning fee and an ongoing retainer.

It’s essential to have clear and transparent fee structures that clients understand. Communicate the value of your services and the potential benefits they can gain from your advisory expertise.

Further Strategies for Marketing Your Financial Advisory Services

Further Strategies for Marketing Your Financial Advisory Services

Once you’ve diversified your bookkeeping business to include financial advisory services, it’s essential to create an effective marketing strategy to attract clients seeking comprehensive financial support.


Attend local business events, conferences, and seminars to build connections within your target industry. Networking can lead to valuable partnerships and referrals.

Email Marketing 

Create an email list of potential and existing clients interested in your financial advisory services. Send out newsletters with valuable insights, updates, and offers. Email marketing can be an effective way to nurture leads and retain clients.

Social Media & Content Marketing

Theres all sorts of social media platforms where you can reach your audience, as well as SEO for your website and blog posts. Find where your target audience is, and focus on that.

Positioning Your Business

To position your bookkeeping business effectively as a comprehensive financial solution provider, you should consider a few things.

First off, clearly communicate your services. Ensure that your website and marketing materials clearly state the range of services you offer, including bookkeeping and financial advisory. Potential clients should understand the value of choosing a one-stop shop for their financial needs.

Make sure you highlight your credentials, certifications, and industry recognition to demonstrate your expertise. Clients are more likely to trust professionals with strong credentials.

Emphasize your ability to provide tailored solutions for clients. Show that your services are not one-size-fits-all but designed to meet individual needs.

Be transparent about your pricing, processes, and what clients can expect from your services. Transparency builds trust and confidence.

Scaling and Growing

As your bookkeeping business diversifies into offering financial advisory services, it’s essential to assess the scalability of this expansion. Scalability ensures that your services can handle an increased workload as your client base grows.

Streamline your advisory service processes to reduce redundancy and manual work. This may involve leveraging technology and automation to optimize your workflows.

Determine how many clients you can effectively serve without compromising the quality of your services. This involves setting client limits based on your available resources and capacity.

Implement a robust client management system to keep track of your advisory clients, their needs, and progress. This will help you efficiently manage a growing client base.

Invest in scalable technology solutions to support your growing advisory business. Cloud-based tools can provide the flexibility needed to accommodate additional clients.

Expanding Your Team and Expertise

Scalability often necessitates expanding your team and expertise.

When expanding your team, seek advisors with qualifications and expertise in areas such as financial planning, investment management, and tax optimization. Hiring the right professionals will enhance the quality of your advisory services.

Promote a collaborative environment where advisors and bookkeepers work together seamlessly. Effective teamwork is essential to offer comprehensive solutions to your clients.

Encourage your team to engage in ongoing professional development. This can involve attending industry conferences, obtaining advanced certifications, and staying updated on financial trends.

If you’re bringing in junior advisors, invest in their training and mentorship to ensure they align with your business standards and service quality.

Preparing for Business Growth

Expanding your services to include financial advisory means preparing for increased business growth and client acquisition.

Enhance your marketing efforts to attract potential advisory clients. Invest in targeted advertising campaigns, content marketing, and social media promotion to reach your ideal audience.

Develop a structured client onboarding process for advisory clients. This process should include an initial consultation, client profiling, goal setting, and a clear path for your services.

Ensure your business infrastructure can accommodate a growing number of clients. This includes scalable software, efficient client management systems, and responsive customer support.

As your business grows, plan your finances effectively. Budget for expansion, invest in marketing, technology, and team development, and ensure that you have financial contingencies in place.

Scaling and growing your bookkeeping business with financial advisory services is an exciting venture. By evaluating scalability, expanding your team and expertise, and preparing for growth, you can ensure a smooth transition into this new phase of your business.

Wrapping Up on How to Offer Financial Advisory Services & Grow Your Bookkeeping Business 

Expanding your bookkeeping business to include financial advisory services can be a game-changer. It not only allows you to diversify your income streams but also positions you as a comprehensive financial solution provider for your clients.

Enhanced Client Value by addressing broader financial needs, you can provide more comprehensive support to your clients, ultimately enhancing their financial well-being.

Diversifying into financial advisory services sets you apart in a competitive market, making your business more attractive to potential clients.

A wider range of services means increased revenue potential, leading to financial stability and business growth.

Expanding your expertise into financial advisory services can lead to your personal and professional growth. You’ll be continually learning and staying up-to-date with financial trends.

For bookkeepers who aspire to reach new heights in their careers, diversifying into financial advisory services is a promising path. As you’ve seen throughout this blog post, it opens doors to new opportunities, empowers you to provide holistic financial guidance to your clients, and contributes to your long-term business sustainability.

Diversification is not only about expanding your services; it’s about expanding your horizons, staying competitive, and adapting to the evolving needs of your clients. By considering this shift in your business model, you’re not just growing your business; you’re nurturing its future.

Future Potential of Bookkeeping Advisory Services

Future Potential of Bookkeeping Advisory Services

The future for bookkeepers who embrace financial advisory services is filled with promise. As the financial landscape continues to evolve and clients seek more comprehensive guidance, your role becomes increasingly vital. By staying agile and expanding your service portfolio, you position yourself for success in a dynamic industry.

The journey to becoming a trusted financial advisor alongside your bookkeeping services is a rewarding one. It’s a pathway to professional growth, financial success, and the fulfillment of helping your clients achieve their financial dreams.

As you embark on this journey, remember that you’re not alone. The bookkeeping industry is evolving, and many bookkeepers are successfully embracing financial advisory services. Their stories, coupled with the strategies and insights shared in this blog post, are your guideposts toward a future brimming with potential.

So, seize the opportunity, diversify your services, and embark on a journey that will not only transform your business but also the financial well-being of your clients. The future is bright for bookkeepers who embrace the horizon of financial advisory services.

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