1st Global Offers New Way for Accounting Firms to Integrate Financial Services; Business Management Services Division Adds New Wealth Care Option

1st Global Offers New Way for Accounting Firms to Integrate Financial Services; Business Management Services Division Adds New Wealth Care Option

Business Editors

DALLAS–(BUSINESS WIRE)–Sept. 19, 2000

1st Global has significantly altered the future of the financial services industry by adding a new Business Management Services division to the company’s wealth care business systems for CPAs and accounting firms.

Affiliates that choose the Business Management Services option will have a professionally trained 1st Global wealth care advisor in their office to manage their financial services practice. Business Management Services is an optional program that complements 1st Global’s proven turnkey Independent Firms Division for those accounting firms that desire to manage, build, and develop all of the skills and factors of production in their financial services practice independently.

“The most important factor in the development of a successful financial services practice is determining the level of capital and time commitment a CPA firm can make,” said 1st Global CEO Tony Batman. “By expanding our services to offer in-house management of the financial services portion of the practice by a seasoned 1st Global professional through Business Management Services, CPA firms can now alleviate the capacity and competency constraints that most accounting firms face when trying to deploy their wealth care initiatives.”

Business Management Services provides four key pieces to accounting firms that choose the program. First, 1st Global sends consulting teams to integrate proven systems into the CPA firm. Secondly, firms receive highly trained business systems, including a dedicated back office system and staff. Then, a professional 1st Global advisor establishes offices at the firm to service the affiliates’ clients. Lastly, proven marketing strategies are provided and implemented.

“Accounting practices have different value systems than financial services firms,” stated Executive Vice President Ken Monroe. “Our Business Management Services system takes these two value systems and finds a way to bridge the gap, to the advantage of both. It’s not a matter of knowledge, but a matter of approach. If an accounting firm approaches the business properly, they can add value to their firm and their clients. This makes it a win-win situation for everyone.”

The Business Management Services system has proven successful in the field. “Firms that utilize this system saw revenue explode in the first month while producing seven times more revenue than the next best model we tested,” added Monroe. “The Business Management Services model is often compared to strategic alliance, case support and generalist strategy. However, 1st Global has solved the problems of these previous models. Business Management Services allows firms to be independent of product while providing the advantages of retaining client ownership.”

1st Global has also strengthened its Independent Firms Division by hiring additional professionals, upgrading its technology infrastructure and introducing new products. “Both systems have proven profitable for 1st Global’s affiliated accounting firms while providing their clients with an important, valuable service,” noted Batman. “Through either the Business Management Services program or the Independent Firms Division program, firms have bonafide choices in how they wish to build their business. Now that 1st Global offers both options, accounting professionals can begin fulfilling their destiny to become the primary source of financial services in the United States.”

About 1st Global

1st Global, Inc. helps tax and accounting professionals build their own financial services business with convenient and efficient access to all the resources they need. The company supports affiliates with a nationwide infrastructure that provides securities brokerage, fee-based management, insurance services and financial and estate planning services.

1st Global currently has over 700 affiliated firms comprised of over 1,400 licensed affiliates, which includes more than 180 major accounting firms in its large firm division that collectively represent approximately $660 million in tax and accounting revenue. 1st Global Capital Corp. is a member of the NASD and SIPC and is headquartered at 8150 N. Central Expressway, Suite M-1000 in Dallas, 214/265-1201. Additional information about 1st Global is available via the Internet at www.1stglobal.com.

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