For CPAs & Financial Advisors

Grow Your Practice with the Virtual Family Office

How accountants and advisors build a second, higher-value planning business alongside their core practice — and collaborate with the VFO's 75+ specialists to add value, deepen relationships, and create new revenue. Based on Paul Latham's "2 Businesses Under 1 Roof" and the Elite Resource Team library.

The Core Idea

2 Businesses Under 1 Roof

Whether you're an accountant or an advisor, the breakthrough is to run two distinct businesses under one roof — a backward-looking core business built for efficiency, and a forward-looking VFO planning business built to add value for your best clients. Keeping them clearly separate avoids client confusion about what they're paying for.

Backward-looking · "The Factory"

Core / Compliance Business

Focus: EFFICIENCY
  • Large % of existing service — what clients already pay for
  • Tax compliance, returns, AUM stewardship, qualified plans
  • Volume & scalability; keep it "clean and boring"
  • Avoid the "Monday-to-Friday syndrome" of staying only here
Forward-looking · "The Boutique"

VFO Planning Business

Focus: ADD VALUE
  • Wider, proactive, holistic planning via the VFO
  • Clearly different — something clients pay extra for
  • New revenue stream + marketing differentiator (not a commodity)
  • "Orchestrate, don't execute" — you lead the relationship
↳ The VFO planning business is aimed at your BEST CLIENTS — packaged & presented separately from core services.
3 Ingredients of Business Success

Vision · Plan · Desire — and Structure

Where are you going?
Vision
How will you get there?
Plan
What vehicle are you in?
Structure
Determined to get there?
Desire
Your Track

How You Grow & Collaborate with the VFO

The "2 businesses" model applies differently depending on your profession and how constrained you are by compliance. Pick your track.

★ Mapped to your firm

Type 1 Advisors + planning-focused CPAs who keep compliance & execution in-house

You have full VFO access and can take revenue shares (Type 1 Advisor), partnering with CPAs whose core is proactive planning but who deliberately keep compliance and execution in-house — using VFO specialists for advanced strategies and added capacity rather than handing the work off. The two highlighted cards below are your starting points.

Type 1 Advisor — full VFO + revenue share Planning-focused CPA — compliance + execution in-house

Where does your firm sit today?

Most accounting firms fall into one of three models. The VFO-coordinated model commands the highest revenue per client by coordinating a vetted specialist team — without hiring or overhead.

Model 1

Compliance Factory

Revenue tied to hours; price-shopping clients; seasonal burnout.

  • Avg revenue/client $300–$1,500
  • Backward-looking only
  • Refers advanced work away
Opportunity: add a 2nd VFO business
Model 2

Advisory Firm

Proactive planning that saves clients real money; strategic-partner status.

  • Avg revenue/client $2,000–$5,000+
  • Year-round relationships
  • Premium fees, not price wars
Deepen with VFO specialists
Model 3

VFO-Coordinated Firm

Coordinates 75+ vetted specialists as an extension of the team.

  • Highest revenue per client
  • No specialist hiring / overhead
  • Revenue generated year-round
The destination model

Two types of accountant — same model, two paths

Type 1 · Tax Compliance Focus

Keep your core; let the VFO run business 2

  • Stay personally focused on the core compliance "factory"
  • Stand up a separate Proactive Planning VFO business
  • Leverage the VFO team — a VFO Liaison + Advanced Tax Planner
  • Aside from making introductions, you do very little personally
★ Your profile
Type 2 · Tax Planning Focus

Planning is core — keep compliance & execution in-house

  • Tax & accounting plus proactive planning is your core business
  • You retain compliance and execution — delivering the work yourself
  • Use VFO specialists for advanced strategies & added capacity, not to hand off the client
  • Offer wider VFO services as a clearly separate, extra-fee 2nd business
Case Study · Type 1 Accountant

"Randall" — compliance-focused

  • Focuses personally on his core compliance business
  • VFO team (Liaison + Advanced Tax Planner) runs the 2nd business
  • Did very little beyond making introductions
$40k+
Holistic & tax-planning fees, 2026

How constrained are you by compliance?

For advisors the "2 businesses" idea is more nuanced — what you can do with the VFO (and whether you can take revenue shares) depends on your compliance situation.

★ Your profileType 1

Not Overly Constrained

Can use the VFO and accept revenue shares from it.

  • Business 1: core "factory" (e.g. qualified plans, AUM)
  • Business 2: proactive planning "boutique" via VFO
  • Markets to existing clients + network of introducers
Full VFO + revenue share
Type 2

Somewhat Constrained

Can use the VFO but cannot always accept revenue shares.

  • Keep core AUM "boring & scalable"
  • Advanced Tax Planning as a separate business & team
  • Advisor as relationship lead — "orchestrate, don't execute"
VFO access, separate fees
Type 3

Very Constrained

Cannot use the VFO or accept revenue shares directly.

  • Focus on winning new clients for the core business
  • Use the Accountant Partnership + VFO team so best clients aren't denied advice
  • Benefits indirectly; gains access to accountant clients
Grow core via partnerships
Case Study · Type 1 Advisor

Abraham Cecena

  • Business 1 — Qualified Plan "Factory" (volume & efficiency)
  • Business 2 — Proactive Planning "Boutique" via VFO
  • Separate but connected — two value propositions, packaged separately
$97.5k
Tax planning fees
$139.4k
VFO revenues
$236.9k
Total since Oct 2025
Case Study · Type 2 Advisor

Dan Riso

  • Business 1 — Core Advisory: clean, efficient, AUM-billed
  • Business 2 — Advanced Tax Planning: separate fee & team
  • "Orchestrate, don't execute" — advisor leads the relationship
$42k
Tax-planning fees in Q4
The Engine

The 4 Ways to Grow Profit

Every member's Vision & Growth Plan is built around these four levers. Where is your key focus?

1

Win New Clients

New AUM and engagements — often via accountant partnerships.

2

More Transactions

Do more with existing clients through wider VFO services.

3

Increase $ Value

Raise the value of each engagement with advanced planning.

4

Get More Efficient

Streamline the core "factory" so you can focus on value.

⚠️ Avoid "jumping 5 feet and charging $3" — price the forward-looking planning business for the value it delivers, separately from the core.
Working Together

The Advisor–Accountant Collaboration

The VFO gives you something concrete to offer: 75+ vetted specialists, a structured partnership system, and a proven joint-client process — with revenue sharing on planning fees.

75+
VFO specialists across disciplines
81
Avg days to first signed partnership
82%
Accountant meetings advance (Fast Track)
3
Meeting joint-client engagement process

The 5-Step Accountant Partnership System

Step 1

Target

Ideal partner: 5–15 years in practice, owner-led, HNW/business clients.

Step 2

Contact

Lead with value, not a sales pitch — open with something useful.

Step 3

Engage

Three structured conversations: fit → educate on the VFO → plan.

Step 4

Serve

Run the joint-client process with the VFO specialist team.

Step 5

Share

Revenue sharing on planning fees — aligned, recurring value.

What accountants want: a trusted partner who cares for their clients, expanded value, real revenue opportunities, and clarity on exactly what happens at introduction.
Member Roadmap

From Fast Start to Growth

Step 1 · 90-Day Plan

Build a fast start & confidence

  • Master the fundamentals of using the VFO in practice
  • For both advisors & accountants — generate early wins
  • Get comfortable before scaling up
Step 2 · Growth Plan

Set direction, structure & goals

  • Build your Vision & Plan around the 4 Ways to Grow
  • Decide your business structure — almost always separating the VFO business
  • Your MSM holds you accountable — the "Desire" ingredient
Go Deeper

Sources & Further Reading

This page is built from Paul Latham's session and the Elite Resource Team library. Download the originals:

Want the client-facing strategies these businesses deliver? See the Strategy Library and Client Personas.