How To Manage Client Information And Maximize Tax Savings with Bob Wheeler

By Salim Omar and the CPA Marketing Genius Podcast

Who is Bob Wheeler?

Bob Wheeler is a CPA who has built a very successful practice located on the West coast, in the Los Angeles area.

"As a kid, I wanted to be a lawyer. I went to college to be a lawyer. I took accounting to help my grade point average because it was subject matter that came naturally to me. I realized that I didn't like lawyers and decided to take the CPA exam," says Wheeler. Wheeler's plan did not involve being a CPA for the long term.

"I thought I'll be a CPA for a little while, to study different businesses and start my own business, not knowing that I would have a successful business of being a CPA," says Wheeler. 

Wheeler worked in private accounting for three years, and then switched over to public accounting. He eventually started his own CPA firm in the year 2000, and has built the firm into the successful practice he has today.

You can reach Bob Wheeler on his website themoneynerve.com or listen to his podcasts and coaching sessions.

Mistakes That CPAs Can Avoid When Starting Their Own Firm

• When you start out you will take any client just to have the billing. 

In hindsight, Wheeler suggests that being selective right from the get go will help you save time and make more money. 



• Be clear about your billing. 

"People will come to you saying that they are broke and stressed out. After filing their taxes for a cheaper rate you may find that they aren't broke at all," says Wheeler. Wheeler's advice is to stick to your rates.

Client attraction, Building a Championship team, and Streamlining your operation

Some of the things Wheeler has done that has led his growth

• Be open to client requests

Wheeler's client base saw exponential growth when he followed up on a client request to meet with their financial adviser.

"A client of mine asked me if I would meet with their financial advisor. CPAs may have an aversion to talking with financial advisors, because some of them are salesmen, however some of them do know what they are doing. It turned out I was meeting with Ameriprise's number one financial advisor in the country. He referred me to people taking me from 200 to 400 clients in a year. He also introduced me to several other financial advisors who became a part of my referral network. It was my willingness to take an extra hour to meet with the financial advisor, that had nothing to do with tax planning, which made all the difference," says Wheeler. 

• Don't look at tax returns as tax returns. Look at each tax return as a relationship. 

When I'm doing that tax return, I am advocating for that client, by trying to save them money. "For me, it's always been about relationships. People feel my desire to make sure that they're taken care of and that I'm actually doing the best for them," says Wheeler. 



• Own your mistakes

When I've made mistakes I owned up to it and fixed it. This creates an atmosphere of trust, honesty and transparency.

How Do You Maintain A Relationship With Thousands of Clients?

"I have a large team that are constantly interacting with the clients. Clients also come into the office. We plan meetings throughout the year or send an email if they are busy," says Wheeler.



Wheeler makes huge efforts to show his clients that he is an active participant in life and then their financial strategies.

What's Been Your Solution to Staff Shortages?

Wheeler has an inhouse team, remote workers, including people from outside the country, effectively allowing his services to be available around the clock. 



"There's a shortage out there. Numbers are numbers. As long as you have a team of people working in alignment it doesn't matter where they are from," says Wheeler. Wheeler has a mix of people from different cultures and countries on his team.

How To Bring A High Level Partner To Your CPA Firm?

He also needed a partner who was in alignment with his mission, and could add inspiration and value to his firm. In turn, Wheeler had to have physical strategies in place that showed his CPA ran smoothly and had potential. 



"It was important that my clients not feel like there was a change. I wanted people to feel comfortable. I have long relationships with people, and want to remain in alignment with them," says Wheeler, "I set my firm up for my partner to succeed and for the clients to feel like they weren't being abandoned."

Final Words of Wisdom From Bob Wheeler

"I think it's important to figure out what it is that you want to do and then decide what your mission is," says Wheeler. 

Wheeler's mission is to teach his clients how to better manage their business finances and tax strategies. 



"I'm not here to save the whole world. I am here to show up for the people that I've chosen to engage with," says Wheeler.

CPA Marketing Genius offers Done-and-You services for web design, SEO and online marketing for CPA firms who want to grow with high value clients. Listen to the CPA Marketing Genius Podcast for more amazing insights.

Bob Wheeler

Bob Wheeler is a successful CPA, entrepreneur and coach who focuses on the relationships between people and their money, to help grow their wealth.