Your Questions

Votum is an accounting firm that specializes in personal financial management.  That said we are not limited to personal financial management we also provide a large variety of traditional accounting services for small businesses.   Clients may come to Votum for a number of reasons but we sincerely believe that the ones who take advantage of our personal financial management services will benefit the most.

Votum is an entirely new business model that we have labeled a “For Purpose” organization.  In its most basic form think if it as a not-for profit organization that operates in a for profit industry that is driven by a specific purpose.  At Votum our purpose is “To improve the financial condition of every individual.”  We treat this purpose the same as a not-for profit organization would treat theirs by allocating our resources to maximize our impact in improving the financial condition of our clients and individuals around the world.

Technically we don’t charge monthly however we do require monthly installments towards an estimation of annual fees (for annual fees greater than $500).  We recognize that this is not a traditional payment format in our industry and for some clients this isn’t a desired method of payment however our hope is that clients will support our reasons for using this payment format even if it is not their personal preference.  The primary reason for this method is to not negatively impact the financial health of our clients by requiring large one time payments that, our budgeting experience indicates, is paid with credit card debt that takes months or even years to repay by the majority of our clients.  Plain and simple large onetime expenses are typically paid by the addition of debt, usually credit card debt, in which the cash isn’t available to pay it off at the end of the month.

*Every client should know that these funds are refundable at their request and are held in a separate account until invoices are completed.

There is a lot in this question.  Some mistakenly view Votum’s “giving” as my (Kenton’s) giving.  This is incorrect as these funds are not mine they are the company’s and are to be used for the company’s purpose.  Sometimes people also mistakenly see us as basically a “generous” business.  This too is incorrect.  Although we certainly value and encourage generosity our profits fall under a specific purpose and mandate and therefore are being “earned for a purpose”, not “gifted from our excess.”  But the question of why we are public with this still isn’t answered until you understand the “we” in Votum.  Votum is an organization of management, staff and clients whose efforts together impact the financial condition of individuals.  We don’t see “we” as the founders, or the management, but rather every person involved with our organization in some capacity.  As such we want to celebrate with each other the good that has come from all our efforts as well as encourage others to join us on what we believe is a worthy cause.  We hope that every client knows that their choice to be a part of Votum impacts the lives of others.  That’s why WE share our story.

Votum is Latin for a solemn promise or vow, it also means a hope or a prayer.  For us our “votum,” or promise is the commitment of using our profits towards our purpose of improving the financial condition of every individual.

Financial MAP is an acronym for Management, Accounting and Planning.  It is intended to represent to fullness of the accounting services we offer.  It also represents all areas requiring attention in order to properly navigate the financial seas.

We start by assessing your current financial health (Where you are).  We then talk about goals and dreams (where you want to be) and then we chart a plan for how to get you there.  We take into consideration financial risks and pitfalls as well as opportunities available for you.  For many clients the first step in preparing for this journey is a proper budget, which is kind of like building the ship for the voyage.  Once the ship is ready we set sail, and journey with you all the way to the destination.

We are neither financial coaches nor financial advisors though we both coach and advise on finances.  A financial coach will give you the tools to build your ship and a financial advisor will increase returns on the wealth you have already accumulated.  Both are valuable however both have inherent weaknesses.  A financial coach can only give you the tools and perhaps get you started but they will not journey with you all the way.  A financial advisor isn’t able to give you their full attention until your ship is a large yacht and even then their role on the ship is limited to portfolio investments.  We consider ourselves financial navigators.  You’re the captain and you have hired us to navigate the financial seas and get you to where you want to go.  As navigators we journey with you all the way, through the sunny days and the storms.

No.  We are a non-designated accounting firm which means that there is no governing body reviewing our work and ensuring our competencies.   We are able to provide most accounting services however we are unable to provide assurance engagements such as audits and review engagements.  Being a non-designated firm also has its benefits (such as a designated accounting firm could not use this business model) however because we don’t have a governing body, we must prioritize the self-assessment of the quality of our work and the professional development of our employees.  Around here we like to say “We are accountants whose reputation is founded on the letters within our name rather than the ones found at the end.”

Of course.  We aren’t looking to obtain clients from other accountants if the clients are happy with the service they are getting.  Our goal is to ensure that you are receiving proper accounting wherever it comes from and there are a number of outstanding accountants in our industry. Because of this we have accountants who will refer clients to us.

We have made an intentional effort to make our services affordable for almost anyone.  Many of our services are offered at less than market value.  We believe that individuals should allocate around 2% of their income towards financial management.  We are able to tailor our services to fit almost any budget and in the instances we can’t, we will try and subsidize our fees for the low-income families in our community.