December 2007 Edition

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Ideas In Motion:

Kyle Brownlee: Using High-Tech Tools to Manage Financial Services


As CEO of Wymer Brownlee Tax and Financial Management, Kyle Brownlee is dedicated to offering comprehensive financial services through technology – and good-hearted compassion for his client’s needs. He was recently honored as one CPA Technology Advisor’s "40 under 40." From the 40-Under-40 page: "His initial vision to add investments and some insurance services to what had previously been mainly a tax and write-up firm provided an opportunity for clients to receive comprehensive financial service under one roof."


By Scott H. Cytron, ABC

  

Scott Cytron: How did the idea for the firm come about?

Kyle Brownlee: Wymer Brownlee started about 40 years ago as a general tax practice in a small rural town in Oklahoma. The vision for what Wymer Brownlee has become today really changed in 1998 after I joined the firm. I felt a move toward a comprehensive financial and tax planning firm would best serve our clients. Previously, I practiced in a large regional public accounting firm, and prior to that, I was a youth minister.


SC: What are some of the benefits of offering comprehensive financial services compared to just tax?

KB: The benefits are all focused on the client, and there is so much more involved than simply offering a compliance service. When we provide a tax return – we are just being compliant. It is important and honorable, but I don’t believe we are really adding value to families or helping those families create better futures with just a tax return. Flipping that to the investment side, if clients are not provided solid tax advice in regard to their investments, then they are vulnerable as well. With comprehensive financial services, we are helping them address all the issues that impact their financial life. This attention to all the wealth issues in a client’s life creates real peace of mind for them.


Kyle Brownlee

 

SC: What are the services a client can expect from a firm offering comprehensive financial assistance?

KB: With our team approach, clients can expect to work with very knowledgeable professionals. Firms such as ours with the accounting component should offer full tax and accounting services, as well as other services particularly specialized in the financial arena. These include investment management, insurance planning – or what we call “risk management,” debt and cash flow planning, business services, education planning, legacy planning, retirement planning, and other special situation planning.


 

SC: In what ways do you use technology to sell financial services? Which have you found to be the most successful?

KB: We use technology in a variety of ways, ranging from research to client satisfaction. Over the past three years, we implemented several key components that help us communicate internally, track client triggering events and present materials during client meetings.

Specifically, we are really pleased with the company-wide intranet implemented in 2007, enabling our staff in all locations to share ideas and announcements. We created an internal challenge to our staff, where we share “Wow” experiences that are noticed throughout the workweek. This has helped improve our client experience by making the small actions that are important to clients more top-of-mind for all of our staff.  In turn, the staff experience is certainly the key to an ultimate client experience.

Our intranet also houses a database to track the services we offer to our clients and their businesses. This information is a big benefit to our marketing. We recognized the difficulty in tracking certain triggering events in our client life. These events often will take place in the future. We implemented an internal events calendar to keep track of these items. This calendar gives us the ability to track significant moments in client’s lives, including anniversaries, big birthdays, college graduation, the date Social Security begins, retirement, required minimum distribution and much more, years in advance. Hopefully, as we begin populating these key events, our clients are even more impressed with the level of service we offer.

Like many financial services firms, we use Morningstar and Vest Plan Solutions available through our broker, H.D. Vest, to present data during client meetings. Both are very useful tools. They help to clearly define advantages or disadvantages when considering options for clients.

I recently presented a seminar during a national conference. The presentation will be available as a podcast through our broker dealer. Podcasts are certainly a valuable tool and one we hope to use more fully. For about a year, we also have sent a weekly e-newsletter. This has been a very positive way to touch clients about current financial issues.


 

SC: Do you foresee the advancement in technology and software as a means to better serve your clients or offer them more options?

KB: Absolutely. Technology will continue to be a key component in serving clients. As a result, it is our responsibility to keep up with the advancements in technology and software to ensure we stay on the leading edge for our clients. Our client satisfaction and retention would suffer without the tools discussed above. 

Every opportunity to add a new service depends on a firm’s technological foundation. A commitment to upgrade our components and research different ways of operating is imperative if we want to remain invaluable to our clients.

You never know what the tech world will throw at us next.  Who would have thought we could read and respond to client e-mail on our cell phone while walking down the street? A paperless office seemed un-doable years ago, but now we access information right from our desk on dual screen computers. I do not know what will come next, but I do know we will sure be ready to pursue whatever possibilities are out there.  You have to stay ahead of the game if you want to satisfy clients and exceeding client expectation is what we do best.


 

SC: Do you think the trend of offering comprehensive financial services will continue its popularity?

KB: I think the trend actually started catching on around 2000 and will continue to grow. Clients tell me over and over how reassuring it is to have a trusted resource that understands all the parts of their financial life and how it all works together. They appreciate having one place to come to for financial advice. It can be a really big job to keep informed and up-to-date on insurance, tax, investments, retirement and business issues.

We really were not looking to jump on a trend when we committed to more comprehensive services. We have always just wanted what was best for our clients –this naturally led us to be comprehensive. It really boils down to always putting the client first, and being prepared to serve them with excellence.

 

SC: How will these trends affect the accounting profession?

KB: I believe there will be two kinds of accounting tax firms in the future. The large regional firms will probably continue their focus on specific tax areas. This type of firm will continue to appeal to the larger corporate clients. I don’t see this changing due to the detail and technical necessity of the service they provide.

I believe small- to mid-size business and families in America will seek an entity such as Wymer Brownlee because these clients have needs that are mostly underserved. Many have pieces of their financial life with multiple providers and don’t understand the interdependence of their total financial picture. They have their accountant, maybe more than one investment advisor, an insurance agent, a retirement plan at work, their attorney, and perhaps a personal banker. Each of these components makes up a person’s or business’s overall financial life, but the providers often do not know what the other is doing. That lack of cohesion can create undo exposure or have a negative impact on overall financial goals.

 

SC: What do you find is your biggest challenge as a financial advisor?

KB: Balancing my personal and business life. I feel called to this industry to help families – it really is my passion. Often I find myself spending more time at work than I should. Additional challenges are finding the right talent to add to the team to stay ahead of growth. We are committed to providing what we call the “wow” client experience. “Wow” to us means that nobody takes better care of a client than we do. To do that, we must always be proactive in managing the firm and must have talented people on board ahead of need. We continue to be blessed with explosive growth, so the talent challenge is always top of mind.

 

SC: What are the top three things new clients ask of you?

KB: Although they may not voice it specifically, I believe in my heart this is what they are seeking. First, they want our focused time. Second, they want and need us to listen and understand where they are coming from, emotionally as well as financially. Third, they are asking us indirectly to commit to seeing the process through with them. They want to do what is best for their families or business. They want help sorting out confusing financial options. They want to know they have somebody looking out for their best interest as they move through different life stages. They want an objective financial opinion as they consider life changes. Clients really deserve to have a trusted advisor relationship so they can make financial decisions with confidence. It is a real privilege to be that trusted person for clients.

 

SC: What do you see for the future of Wymer Brownlee?

KB: I know we will continue to live our mission, which is to always put the client’s needs first every time. Clients notice that difference. They do not see us as a transactional relationship. They see us as watching out for them, a guide, for their financial well being. Having that sort of relationship continues to bless us with success. Our clients appreciate us and new clients seek us out.

I am also excited about the team we have built to serve our clients. Never in the history of this firm have we had this much traction, in regard to talent, to grow our services. This traction serves two purposes. First, it serves more clients at the level they deserve to be served. Second, it allows Wymer Brownlee to positively impact the people on our team. We are able help them reach their full career potential. Taking care of clients and employees fulfills me. It is really exciting to be part of the future of this firm.

 

SC: What is your life motto?

KB: I have two. First, “Ability is what you are capable of doing. Motivation determines what you do. Attitude determines how well you do it.” – Anonymous. This is how I attack life and what I believe we are all capable of doing.

Second, “The greatest reward for doing is the opportunity to do more” – Jonas Salk. I believe in this entirely, it is why I get up every day ready to get to the office.

 

SC: If you were deserted on an island and could only have one form of technology, what would it be and why?

KB: With the Internet and e-mail, I can be in nearly any location and take care of business in a timely fashion. Communicating in a timely fashion is vital.



About Author:
Scott H. Cytron, ABC, is senior vice president for Pierpont Communications, Inc., in Dallas, a full service public relations firm working with clients across the country. He specializes in public relations, marketing and communications activities in professional services industries, including accounting, medical, financial planning, collections and debt, and high-tech. Contact him at scytron@piercom.com or call 214-217-7300.


Contact info:
Scott H. Cytron, ABC
Pierpont Communications, Inc.
Phone: 214-217-7300
Email: scytron@piercom.com
Website: www.piercom.com

 


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