Bookkeeping and Accounting for Financial Advisors

Need a bookkeeper and accountant for your financial advisory firm? We manage your books, giving you more time to focus on your client's portfolios. Try us for free.

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How Bench works with financial advisors

Get your bookkeeping, income tax prep, and filing done by experts—tailored for the unique needs of financial advisors. Bench partners seamlessly with your financial consultancy services.

We get you set up

Our team makes an effort to profoundly grasp the workings of your financial advisory business, answer any inquiries you might have, assist you in linking your accounts, and guide you through the functionalities of Bench.

We do your bookkeeping

Every month, your dedicated bookkeeper categorizes your transactions, tailoring to the unique needs of your financial advisory business, and compiles accurate financial statements. Should they require additional information from you, they'll reach out promptly.

We deliver tax-ready financials

Our team of experts is well-versed in the taxation rules for the financial advisory industry and will tailor their approach to your distinct business requirements.

Here’s why financial advisors like you trust Bench with their bookkeeping and accounting

Get fast, unlimited support from our expert advisors

We consistently provide bookkeeping updates catered to your specific needs as a financial advisor. Have urgent inquiries that need immediate attention? We guarantee a response within one business day or even less.

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screenshot of Bench support app

Guaranteed accuracy in every detail

Our platform enables you to automate data inputs from a majority of the key providers, eliminating the usual errors. We collaborate with financial firms such as Gusto, Stripe, Shopify, and Square—ensuring your financial records are consistently precise. As a financial advisor, working with Bench Accounting means having your bookkeeping effectively streamlined and consistently accurate.

See where you’re spending. Make smart decisions

Say goodbye to the stress of scattered financial documents and laborious manual record-keeping—we automate inputs directly from your linked accounts. Leverage insights from a single, centralized dashboard, enabling you to effortlessly comprehend the well-being of your advisory practice and make informed strategic decisions.

people doing their bookkeeping at a table

Bench integrates with your favorite small business tools

We sync seamlessly with your financial accounts and tools to keep your books up-to-date and save you the time and effort of manually uploading documents.

Trusted by 25,000+ American small business owners

“Bench helped me replace QuickBooks, and save about 6 hours per month of horrible accounting work, which is priceless.”

CHRIS RONZIO

CEO, TRAINUAL
“This is the first year where it’s tax season and I don’t feel anxious one bit.”

DR. BUKKY KOLAWOLE

FOUNDER/EXECUTIVE DIRECTOR, RELATIONSHIP HQ
“Bench has lifted a giant weight off my shoulders and freed up my time so I can focus on earning money and working with clients, meetings and calls.”

HEATHER SHOLL

FOUNDER, THE VILLAGES GYM
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We know bookkeeping for financial advisors

Bench understands the particular challenges facing financial advisors. Between managing portfolios, staying abreast of market changes, and advising clients, you have enough on your plate without needing to also navigate the complexities of industry-specific bookkeeping. Financial advisors, like you, can face unique bookkeeping issues such as tracking investment performance, managing financial reports, handling commissions, and so on. Furthermore, there are specific laws and tax considerations to keep in mind in this industry, from capital gains taxes to compliance with regulations from bodies such as the SEC.

That's where Bench comes in. We provide a comprehensive bookkeeping service specifically tailored for financial advisors. Our innovative software complements the expertise of our professional bookkeepers to track income, expenses, and provide accurate, up-to-date financial reports, helping you avoid any potential compliance issues. Our team understands the tax laws and regulations applicable to financial advisors and can assist in minimizing your tax liability and maximizing your return. Bench does all this while ensuring your books are impeccable, freeing you up to focus more on providing quality advice to your clients and less on handling financial paperwork.

Simple, straightforward pricing for everything your business needs.

Get bookkeeping, tax prep, advisory, and filing with Bench's powerful, easy-to-use platform.

Choose Plan

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$249/mo

billed annually

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$399/mo

billed annually

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$299/mo

billed monthly

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$499/mo

billed monthly

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Frequently Asked Questions

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As a financial advisor, what specific accounting functions might I need support with?

As a financial advisor, you may require support with a variety of specific accounting functions to manage your financial records accurately and effectively. These might include:

<ul><li> Bookkeeping: Recording all financial transactions, including purchases, sales, and payments.</li><li> Financial Reporting: Creating income statements, balance sheets, and cash flow statements to provide an overview of your financial status.</li><li> Tax Preparation: Ensuring you're prepared for tax season with accurate records, and potentially helping with tax return preparation.</li><li> Payroll Processing: This involves managing pay cycles, wage calculations, and taxation related to employee compensation.</li><li> Accounts Receivable and Payable: Managing incoming payments from clients and outgoing payments to vendors or creditors.</li><li> Budgeting and Forecasting: Assisting with the prediction of future financial performance based on historical data and market factors.</li></ul>

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How can a bookkeeper help optimize my budgeting and financial planning services for clients?

A bookkeeper can significantly optimize your budgeting and financial planning services in multiple ways. First, they can help maintain accurate and up-to-date records of all your financial transactions. This makes it easier to review your financial progress and establish realistic budgets. Second, they can perform regular financial analysis, providing you with valuable insights into your income and expense trends. These insights can be extremely beneficial when developing financial plans for clients. Lastly, a bookkeeper can also help ensure compliance with financial regulations, preventing any potential legal issues and thus securing your services.

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What should I look for in a bookkeeper specifically suited to the financial advisement sector?

When looking for a bookkeeper specifically suited to the financial advisement sector, there are several key qualities you should consider. Firstly, the bookkeeper should understand the unique financial regulations and legal requirements associated with this industry. Industry-specific financial standards and compliance rules can have serious consequences if not adhered to.

Second, you should look for someone with experience in your sector. A bookkeeper with a proven track record in financial advisement will be more likely to understand your specific needs and challenges.

Third, they should have a strong attention to detail. Financial advisement involves complex transactions that require the utmost accuracy. The bookkeeper should be detail-oriented enough to catch any potential errors before they become serious problems.

Lastly, good communication skills are essential. Your bookkeeper will need to be able to explain financial information clearly to you and any other key stakeholders.

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Does Bench outsource bookkeeping?

Nope! All bookkeeping is completed in-house.

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Will I have one point of contact?

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

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How much time each month will I have to spend managing my Bench account?

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.

Bookkeeping Services for Financial advisors

Discover how we can help you have better finances with a personalized demo from a Bench expert, ready to answer all your questions. Sign up as a customer today and get a free month of bookkeeping, valued at $299.

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