In this episode of Profit and Practice, host Max Holvik speaks with Catherine Tindall, a CPA and the principal of Dominion Enterprise Services. Max and Catherine dive deep into the weeds of financial management, tax optimization, and partnership accounting. While wealth management firm financials appear deceptively simple on the surface, Catherine explains why many advisors fall into the trap of bare-bones bookkeeping, problematic Chart of Account setups, and retrospective "compliance-only" tax relationships. She defines the costly reality of "tax waste": the cash lost to missed opportunities when a firm lacks a structured tax planning system. From designing a management-focused chart of accounts to drafting robust "business prenups" (operating agreements) before equity transitions, Catherine shares practical, high-impact strategies to help firm owners treat their financials as a strategic tool for enterprise growth.

Catherine Tindall is a CPA and the principal of Dominion Enterprise Services. She runs a specialized CPA firm focused on tax planning and compliance specifically for wealth management practices, including RIAs, broker-dealers, and independent practices. She also hosts the highly successful Financial Advisors Want to Know podcast, an educational podcast with over 100 episodes dedicated to helping advisors scale intelligently, save taxes, and build their practice to 7-8 figures the right way the first time.

In this episode, we cover:

· The Concept of "Tax Waste"

· The "Deceptively Simple" Financial Statement Trap

· Designing a Management-Focused Chart of Accounts

· Bookkeepers vs. CPAs & Separating Internal Controls

· The "Business Prenup": Operating Agreements in Equity Transitions

· AI in Accounting: The "Smart but Lying" Intern

Connect with Catherine:

Website: https://www.dominiones.com/

Podcast: Financial Advisors Want to Know Podcast Page and Apple Podcast

Newsletter Sign Up: https://dominion-enterprise-services.kit.com/9944b047d9

LinkedIn: https://www.linkedin.com/in/ctindallcpa/

Every episode closes with the same question: what's the best piece of financial advice Catherine has ever received? Listen to find out.

Connect with the Show:

Profit & Practice is hosted by Max Holvik, founder of The Advisor's CFO, a fractional CFO practice for wealth management firms.

TheAdvisorsCFO.com | LinkedIn

In this episode, Joe Popper, founder of Popper Tech Team, joins us to talk about cybersecurity, IT and AI in the wealth management space. As technology failures and security breaches become make-or-break business problems, Joe shares real-world cautionary tales and actionable frameworks for implementing AI, protecting against high-cost cyber threats, and staying compliant under the watchful eye of the SEC.

Joe Popper is the founder of Popper Tech Team, known by his clients as the OG IT and AI guy. He works with financial and professional services firms where technology failure isn't an option, helping them stay secure, operational, and ahead in a world where one small tech problem can quickly become a big business problem.

In this episode, we cover:

· AI, Cyber Security, and Compliance: Navigating the Tech Minefield for RIAs

· Protecting Your Client's Money: Fighting Cyber Threats and Business Email Compromise

· The AI Revolution in Wealth Management: How Small RIAs Can Leverage Tech to Scale

· Is Your RIA Ready for an SEC Audit? AI Governance and Compliance Essentials with Joe Popper

Connect with Joe:

LinkedIn | poppertechteam.com

Every episode closes with the same question: what's the best piece of financial advice Joe has ever received? Listen to find out.

Connect with the Show:

Profit & Practice is hosted by Max Holvik, founder of The Advisor's CFO, a fractional CFO practice for wealth management firms.

TheAdvisorsCFO.com | LinkedIn

In this episode of Profit & Practice, host Max Holvik sits down with Darci Smith, founder of Roklyn Consulting, to discuss the complex and rapidly evolving landscape of recruiting within the RIA space. While many firms lament a "talent shortage," Darci explains why the industry is actually suffering from a training shortage driven by the rise of automation and AI tools. She shares invaluable insights on how independent RIAs can leverage their unique brand stories to out-recruit larger wirehouses, the critical importance of defining clear career trajectories for support staff, and how to navigate the delicate succession planning process between G1 founders and G2 advisors.

Darci Smith is the founder of Roklyn Consulting, a boutique recruitment firm specializing in financial advisor placements. Originally building her recruiting career by helping collegiate and professional athletes transition to corporate roles, she has spent the last six years helping independent RIAs and wealth management firms optimize their talent, operations, and cultural alignment.

In this episode, we cover:

· The Training Shortage Myth

· Defining Culture Beyond the Clichés

· Avoiding the "Mini-Me" Hiring Bias

· The Crucial (and Misunderstood) CSA Role

· Spotting Candidate Red Flags

· Independent RIAs vs. Broker-Dealers

· Aligning Marketing with Recruiting

· The G1 to G2 Succession Epidemic

Connect with Darci:

LinkedIn | Roklyn Consulting

Every episode closes with the same question: what's the best piece of financial advice Darci has ever received? Listen to find out.

Connect with the Show:

Profit & Practice is hosted by Max Holvik, founder of The Advisor's CFO, a fractional CFO practice for wealth management firms.

TheAdvisorsCFO.com | LinkedIn