Financial Advisor Income Statement and Balance Sheet: Template Download

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Here are some Excel models financial advisors can use to create your Chart of Accounts. Download this Excel sheet below for free to get a template for a financial advisor income statement and financial advisor balance sheet.

But first..

For those of you who are new to my blog/podcast, hi! My name is Sara. I am a CFA® charterholder and I used to be a financial advisor. I have a newsletter in which I talk about financial advisor lead generation topics which is best described as “fun and irreverent.” So please subscribe!

Sara Grillo, CFA is a highly fun and slightly crazy marketing consultant based in NYC.
I am an irreverent and fun marketing consultant for financial advisors.

Financial Advisor Income Statement

Before you download this financial advisor income statement template below, here are a few things to keep in mind.

  • I created this financial advisor income statement for the flat fee advisors and advice only planners that are involved with the Transparent Advisor Movement. However, no matter how you charge, this template may be useful to you. Simply adjust the Revenue tab, cells C2 and C3.
  • I tried to map out (see expenses tab) what the typical cost would be for an advisor starting out in the first 1-3 years. I assumed minimal travel and entertainment expenses, and a useful life of three years for hardware which is depreciated on a straight line basis.
  • You’ll need to run the Pivot Tab (see pivot tab) and then paste the values manually from cells B4-8 to cells E4 to E8. Which stinks, but there is no way, that I am aware of anyways, to take the input from a pivot table and have it flow through automatically to the rest of the sheet. However once you copy those values over to cells E4 to E8 the flow of data through the sheet should be restored.
  • Keep in mind this is just a model template and in no way may it be interpreted to accurately reflect your personal situations. Figures shown are estimates only. Please customize this to your specific situation to get an accurate picture. I have no idea what your specific tech stack for your practice may look like. I tried to map out some of the popular tools that comprise a financial advisor tech stack, but I have no idea what your preferences are. It could be total crap in your eyes. Please customize it to represent your reality.

Financial Advisor Balance Sheet

Again, here I tried to map out what the typical assets and liabilities of a financial advisor practice are. No way this could accurately represent what your practice looks like in reality, so please feel free to go ahead and fill it in.

Statement of Cash Flows

I did not create a financial advisor cash flow statement because I ran out of time. However, I may do so in the future. It was Easter Weekend last weekend and I had relatives visiting and tons of food invading my refrigerator which I am trying to resist eating.

Download these templates!

If you are a flat fee financial advisor download this chart of accounts template.

Note, this assumes that the advisor is providing both financial planning and investment management services.

If you are an advice only planner, download this chart of accounts template.

Note, this assumes the advisor is providing only financial planning services. There are no expenses for investment management.

What if you are not a flat fee advisor or an advice only planner?

If you are charging fees for investment management or other services, you probably could use the flat fee chart of accounts. Like I said, just customize the revenues tab to represent your practice.

Voila! There you go!

Was this financial advisor income statement stuff helpful?

The reason I put all this together is I see a ton of financial advisors out there who struggle to get a grasp of what the math behind a financial advisor practice looks like. It’s important if you want to grow/manage your practice the right way (for the sake of your clients) that you grasp this.

Hope these financial advisor chart of account templates were useful. If you are interested in flat fee or advice only financial advisor stuff, I have a ton of free resources for you.

Join our next Transparent Advisor virtual meetup. We meet on the second Wednesday of the month at 1 PM ET.

These meetups are free and the goal is to learn from each other about how to grow and manage a transparent practice for the benefit of clients.

Even if you can not make the meetup, or even attend in its entirety, please register for the replay and to be notified of the next one.

If you are a financial advisor looking to grow your business, check this stuff out.

Learn what to say to prospects on social media messenger apps without sounding like a washing machine salesperson. This e-book contains 47 financial advisor LinkedIn messages, sequences, and scripts, and they are all two sentences or less.

This is a book about financial advisor LinkedIn messages which contains scripts you can use to get new prospects.

You could also consider my financial advisor social media membership which teaches financial advisors how to get new clients and leads from LinkedIn.

The Sara Grillo membership is a social media program for financial advisors - but only the cool ones.

Thanks for reading. I hope you’ll at least join my newsletter about financial advisor lead generation.

See you in the next one!

-Sara G


Grillo Investment Management, LLC does not guarantee any specific level of performance, the success of any strategy that Grillo Investment Management, LLC may use, or the success of any program. The figures presented herein are for illustrative purposes only. Future performance may vary and projections are no guarantee of future results.

Grillo Investment Management, LLC will strive to maintain current information however it may become out of date. Grillo Investment Management, LLC is under no obligation to advise users of subsequent changes to statements or information contained herein. This information is general in nature; for specific advice applicable to your current situation please contact a consultant or advisor.

By utilizing this template, you agree to indemnify Sara Grillo and Grillo Investment Management, LLC from any liability associated with the use of these materials. Values entered into this spreadsheet are hypothetical in nature and are not specific to any one individual or practice. Keep in mind this is just a model template and in no way may it be interpreted to accurately reflect your personal situations. Figures shown are estimates only. Please customize this to your specific situation to get an accurate picture.

Any questions? Send 'em in!