In this episode of Canopy Practice Success, host KC Brothers sits down with Dave Spence, a CPA turned financial planner with decades of experience in both public accounting and wealth management. With six years in public accounting, 18 years at AXA Advisors, and 15 years at LPL Financial, Dave brings a unique perspective on the intersection of tax strategy, financial planning, and client advisory services.
KC and Dave explore the “science vs. art” of accounting and financial planning, why tax planning is often the natural gateway to advisory services, and how CPAs can evolve from compliance work into forward-looking strategies that build long-term client trust. They also discuss practical models for firms, whether through certification, hiring, or strategic partnerships, and how collaboration across disciplines can deliver better outcomes.
Along the way, Dave shares his personal journey, his perspective on today’s tax environment, and insights from his book The Tax Pros Guide to Using LERPs for Advanced Tax Planning. From practical strategies to industry trends, this conversation offers inspiration and actionable advice for firms ready to expand their role in clients’ financial futures.
Here are the main highlights you won’t want to miss.
1. The Art vs. Science of Financial Advice
“Accounting is more science than art… but financial planning blends both. You have to balance goals and get creative with solutions.” – Dave Spence
Dave explains how CPAs can shift from compliance work to advisory by embracing creativity. This opens new opportunities to guide clients beyond the numbers.
2. Tax Planning as the Gateway to Advisory
“The biggest hurdle to financial independence isn’t fees, it’s taxes. That’s why CPAs are perfectly positioned to step into planning.” – Dave Spence
Tax knowledge gives accountants a natural advantage in expanding into advisory and wealth management. Dave shows how firms can leverage this to provide more value.
3. The Power of Collaboration
“You should be the quarterback for your client. Work with wealth managers, insurance experts, and advisors so clients get the best outcome.” – Dave Spence
Instead of referring clients away, CPAs can lead the team that supports a client’s financial life. Dave shares why collaboration creates stronger, lasting client relationships.
If you want to learn more on this topic give the whole episode a listen!
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