Who's Really the BOSS? | A CPA's Guide to Adding Financial Planning

A CPA's Guide to Adding Financial Planning

September 1, 2025 / 57:38/S4 E18

Matt Kidd joins us and shares how he transformed a traditional 1040 firm into a hybrid practice offering both tax services and wealth management after acquiring a $400K firm at age 26. He breaks down the practical steps of adding an RIA to your CPA practice, from choosing between broker-dealers and registered investment advisories to navigating compliance requirements and team buy-in. Matt also discusses his strategy of trading high-volume tax clients for higher-value financial planning relationships and why the "good enough" mentality has been crucial to his firm's evolution.

Connect with Matt Kidd
https://www.blundenkidd.com/who-we-are/matthew-s-kidd
https://www.linkedin.com/in/matthewkiddcpa

Introducing Collective by DBA
https://collective.cpa
https://www.linkedin.com/company/collectivebydba

Learn More About Dillon Business Advisors
https://www.dillonadvisors.com
https://www.linkedin.com/company/dillonbusinessadvisors

Sign up to get free CPE for listening to this podcast
https://earmarkcpe.com

Download the Earmark CPE App
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728

Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

(00:00) - Welcome to Who's Really the Boss
(01:39) - Matt Kidd's Background and Firm Acquisition
(03:08) - Challenges and Changes in the Firm
(04:34) - Social Director and Best Advice
(08:45) - Firm Structure and Remote Work
(10:37) - Expanding Services: Financial Planning and Wealth Management
(13:48) - Client Conversion and Relationship Building
(24:17) - Navigating Financial Advisor Relationships
(29:46) - Understanding Financial Planning Routes
(31:02) - Broker Dealers vs. RIAs
(32:04) - Turnkey Asset Management Providers (TAMPs)
(33:10) - Choosing the Right Financial Model
(44:20) - Growth and Client Retention Strategies
(47:49) - Networking and Professional Development

Marcus Dillon, CPA

Rachel Dillon

President at Blunden and Kidd Accounting and Consulting