I left a high-profile Wall Street firm thirty-eight years ago because I was personally committed to supporting small businesses in my community, not just serving the ultra-wealthy elite. Since then, I’ve worked to build and operate a Registered Investment Advisor (RIA) firm, a diversified financial services firm, and a CPA practice. Through all of this, one challenge has remained consistent: there is no proven, long-term business model for delivering high-quality financial support to working-class business owners at a price they can sustainably afford.
Typically, I am brought in to solve an urgent financial or tax issue. Once that crisis is resolved, the engagement ends, and the business owner is left without ongoing professional guidance. This cycle limits the long-term impact I can have and leaves clients vulnerable to recurring challenges.
Two years ago, I began testing a different approach. What if I created a low-cost subscription model, just enough to cover my base operating costs, so that I could offer accessible, ongoing business coaching and tax support? What if clients could cancel anytime, keeping their risk low? What if we customized each client’s work plan and leveraged technology to make service delivery more efficient?
That model is now showing real promise.
Clients are responding with enthusiasm:
“You mean, for just $___ per month, you’ll handle my tax returns, help with cash flow planning, and be available for questions all year round?”
This feedback has validated my belief that small business owners want steady, trusted financial support, they just need it structured in a way that fits their budgets and doesn’t feel like a major commitment.
Communicating the Value
One challenge has been explaining this unfamiliar model to potential clients. Many are used to transactional engagements or high-cost retainers. I’ve found that live speaking engagements—where I can share stories and answer questions, are far more effective than social media in attracting new clients.
Another challenge is managing revenue sustainability on my end. There’s an old adage in the financial services industry that you’ll earn about 1% of your clients’ collective gross income. Whether or not that figure is exact, it reflects a reality: many of my clients, especially those just starting out, earn less than $200,000 per year. That limits what they can afford for high-quality advisory services, but it doesn’t reduce their need for it.
Staying Compliant and Focused
With the regulatory complexity of delivering multidisciplinary services, I’m mindful of professional and legal boundaries. Working class clients want fast, concise, cheap, and actionable responses. This is often the opposite of the specialization model of the professional services industries that focus on a team approach and family offices. Clients receive clearly written engagement agreements outlining exactly what is, and is not, included.
What’s Next
Yesterday, I drafted a flyer that explains this new service model. It’s not perfect, but it’s a starting point. I currently have the capacity to work with about 40 clients under this structure. Whether or not I scale beyond that will depend on the results and feedback from this initial group.
For now, my focus is on delivering the best possible experience and tangible financial outcomes to the clients who choose to embrace this new approach. I want to show that there is a viable, sustainable way to provide working-class entrepreneurs with the kind of support that Wall Street has long reserved for the wealthy.