Advisors, lenders & money services
Books and taxes for independent financial advisors.
Quarterly AUM fees from Schwab, flat planning retainers, the odd commission check, and referral fees paid to the tax preparer down the hall. Your own bookkeeper keeps it straight, an accountant checks every transaction, one number a month.
- From $197 a month
- An accountant on every transaction
- Cancel whenever
January cleared $14,300. The Schwab fee deposit came in for last quarter, so I logged it against October through December, not this month.
- Schwab Advisor Services feeAUM fees
- Client retainer, J. AlvarezPlanning fees
- Orion Advisor TechSoftware
- State IA renewalLicensing
- Referral fee, Hartman firmReferral fees paid
Why your books are different
An advisory practice's books go wrong in a few particular places.
A generalist bookkeeper sees a deposit from a custodian and calls it income for the day it lands. Your fee was earned over the quarter before that, your referral partner needs tracking, and the money moving through your account is not always yours to count.
-
1
The quarterly fee lands in the wrong month
Schwab or Fidelity pays your AUM fee in a lump the week after quarter end, so October through December's fee shows up as a January windfall while the three months it was actually earned in look thin.
What we doSplits the fee back across the months it covers, so your monthly number reflects the quarter you actually worked, not the day the custodian paid. -
2
Referral fees to the tax preparer or estate attorney disappear into marketing
You pay a percentage back to the accountant or attorney who sent you a client, and if that gets lumped into general marketing, you lose the ability to see which referral source is actually worth the split.
What we doKeeps referral payouts in their own line, tied to the source, so you can see what each relationship is actually costing and returning. -
3
A one-time commission looks like the new normal
An old insurance license pays out a single commission on a legacy policy, and if it lands in the same bucket as recurring AUM fees, next quarter looks like a shortfall instead of a return to normal.
What we doFlags one-time commission income separately from recurring fees, so your steady number stays steady. -
4
Compliance costs get treated like ordinary overhead
Mock audits, a compliance consultant on retainer, and state registration renewals are real and recurring costs specific to running an advisory practice, but generic software often files them as unlabeled admin expense.
What we doKeeps compliance costs in their own category, so you can see what staying registered actually costs each year.
Your categories
The categories Gus keeps for an independent advisory practice.
Set up once for how the practice actually gets paid and what it actually spends. You never pick a category. He does, and an accountant checks it.
Money in
- AUM feesQuarterly fees from Schwab, Fidelity, or Pershing, matched back to the quarter earned.
- Planning feesFlat and retainer fees billed directly or through a client portal.
- CommissionsLegacy insurance or product commissions, kept apart from recurring fees.
- Referral incomeFees received for sending business to another professional.
Money out
- Advisory softwareOrion, Redtail, Riskalyze, and similar advisory tools.
- Registration and licensingState investment adviser and continuing education renewals.
- ComplianceMock audits, a compliance consultant, and filing costs.
- Referral fees paidSplits paid to the tax preparer, attorney, or other professional who sent a client.
- InsuranceErrors and omissions coverage for the practice.
- Contract laborA paraplanner or part-time assistant paid outside payroll.
What we watch for you
- Recurring fee base
AUM and retainer fees against total income, so a good quarter is not mistaken for the new normal.
- Referral cost
What each referral relationship actually costs against what it brings in.
- Compliance spend
What staying registered and audited costs each year, tracked on its own.
- The set-aside
What the practice will owe on quarterly fee income, tracked well before April.
Ask Gus
Things independent advisors ask Gus.
Text him like you would text anybody. He answers in plain English, and when a question is above his pay grade, an accountant looks and gets back to you.
No. I split it back across October, November, and December so your monthly number reflects when you actually earned it, not when the deposit landed.
Its own line, referral fees paid, tied to his name. You will be able to see exactly what that relationship is worth over the year.
It is a deductible cost, and I keep it in its own category. Anything trickier than that, the accountant looks at with your whole year in view.
The tax side
The tax side of an independent advisory practice.
Most of what matters here is timing and structure, since the practice itself usually runs lean on physical costs and heavy on fees and licensing.
What your return has to get right
Your accountant signs it, so it gets done right the first time.
- A strong AUM year can trim the pass-through deductionMost owners can take up to 20 percent of business profit off their taxable income, but advice-based practices can see this deduction phase out sooner once income passes the higher brackets. Gus tracks the number so the accountant can plan around it.
- Fee income and the S corp decisionA sole owner pays 15.3 percent self-employment tax on profit, up to the $184,500 wage base for 2026. An S corp election, due by March 15, can change how much of that profit gets taxed that way.
- Solo retirement plan limitsA one-person practice can defer up to $24,500 into a solo 401(k), plus $8,000 more at 50 and older, which lowers the year's taxable profit while building retirement savings.
- Paraplanner and contractor 1099sA part-time paraplanner or assistant paid $2,000 or more in 2026 who is not on payroll gets a 1099-NEC by January 31. Gus keeps that list running all year.
Deductions independent financial advisors miss
Your bookkeeper knows what to look for in your statements. You never have to.
- State IA registration fees
- Errors and omissions insurance
- Advisory software subscriptions
- Continuing education courses
- Compliance consultant fees
- Client portal and e-signature tools
- Referral fees paid out
- Home office costs
- Professional association dues
- Conference and travel costs
- Laptop and office equipment
- Mileage to client meetings
General information about 2026 federal rules, not advice for your business. Your accountant looks at your actual numbers before anything gets filed.
All year, not just April
An advisory practice's year, kept every month.
Quarterly fees land on their own schedule and registration deadlines land on theirs. Your team keeps the practice's own books current through both. Every month in between, your bookkeeper closes the books and speaks up the moment something looks off.
- January
Fees split, year planned
The fourth quarter fee gets matched back to the months it covers, 1099s go out to anyone paid outside payroll, and last year's return gets started.
- April
Filed. Done.
Your return is filed and signed, with quarterly fee income already matched to the right months, so nothing about the number is a surprise.
- July
Halfway check
Where the practice stands, what it will owe, and whether the first half's fee income matches what was expected.
- October
Before year end
A look at software, equipment, or a retirement plan contribution worth making before December, alongside the next quarter's fee schedule.
What you get
What you pay depends on what your business needs, and it does not move after that, busy season or slow. No hourly bills, no surprise invoices, no setup fee.
Book a call- Monthly bookkeeping
Every transaction sorted into categories set up for independent financial advisors. You never categorize a thing.
- An accountant checks every transaction
Real review, every month, before your books close. Not a spot check.
- Your business tax return, filed
Prepared, reviewed, and signed by that same accountant every year.
- The monthly number
What you made, what you spent, what to set aside for taxes.
- Your own bookkeeper
A real person assigned to your business, in the app whenever you need them. No hold music.
- On your books all year
Every month, not just in April. Your team speaks up whenever something is worth your attention.
- Cancel any time
No contract. No cancellation call. Your books are yours.
Straight answers
Questions independent advisors ask first.
I bill AUM fees quarterly through Schwab. Can Gus work with that?
Yes. He takes the deposit and matches it back to the months it was actually earned, so your monthly number reflects the quarter you worked, not the day the custodian paid you.
Does Gus manage my client accounts or give investment advice?
No. Gus and your bookkeeper only keep the practice's own books, what the firm makes and spends. Client funds, portfolios, and advice stay entirely with you.
I pay referral fees to a couple of tax preparers. How does that get tracked?
Each referral partner gets kept in its own line, so you can see exactly what each relationship costs and what it brings in over the year.
My income is mostly fees now but I still have a few legacy commissions. Does that confuse things?
No. Commissions get flagged as one-time income separate from your recurring fees, so a quiet fee quarter is not mistaken for a bad one.
Can Gus track what my registration and compliance costs actually run each year?
Yes. Registration renewals, continuing education, and compliance consulting stay in their own category, so you can see what staying registered actually costs against what the practice brings in.
I am a solo RIA with no staff. Is a flat subscription still worth it?
Most solo practices find it simpler than doing books themselves between client meetings. You still get a named bookkeeper and an accountant checking every transaction, whatever the size of the practice.
Is a real accountant checking my books?
Yes. You get your own bookkeeper, Gus does the first pass on every transaction, and an accountant checks every one before your month closes. That same accountant prepares, signs, and files your business return. Goatkeeper is not a CPA firm, and we never pretend a person looked when they did not.
What does it cost, and can I cancel?
It starts at $197 a month, depending on what your business needs. No setup fee, no hourly bills, no contract. Cancel any time from the app, and your books go with you.
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What makes a bookkeeper worth paying for Every business we keep books for
Book a call
Pick a time. That's the whole signup.
Fifteen minutes with a real person on our team. They look at where your books are, tell you straight what it takes to get caught up, and get you set up on the spot if it fits.
- $197 a month to start
- An accountant on every transaction
- Cancel whenever