With 61% of financial advisors saying accountants and attorneys were the source of their five best new clients last year, it makes sense for financial planners and investment managers to tune out the noise and focus on building strategic relationships with accountants, attorneys and other professionals who advise wealthy individuals. But how do you do that?
How do you build meaningful relationships with other professionals to the benefit of your clients, you, and other professionals you want to work with? How do you optimize strategic alliances with other professionals for your clients, yourself, and the other professionals?
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Firms that practiced collaboratively with outside professionals, according to a 2009 study by CEG Worldwide, a company founded by advisor coach John Bowen, showed average revenue of $1.06 million in 2008 versus $661,959 in revenue averaged by advisory firms using an “internal” model.
Bowen says, clients like it when an advisors brings in other professionals to help with taxes, selling a business, legal matters, or other issues requiring a specialist. And creating such partnerships is not as difficult as you might think because it is based on doing the right thing for clients.
Bowen is a brilliant businessman, salesman, and thinker. He was an incredibly successful advisor and has been coaching advisors for the close to 15 years. Successful advisors who I know and respect highly say Bowen’s programs work.
Bowen is speaking about financial advisor strategic alliances at this Friday’s A4A Webinar Series. If you’re a paying member of A4A ($60 a year
), you can attend Bowen’s session
for free. Attendees will receive an e-book about how to build strong professional partnerships.
To make John’s session as helpful as possible, please think about:
- Strategic-alliance opportunities that you might have open to you now
- Opportunities for strategic alliances that you have blown
- What’s stopping you from pursuing strategic alliances?
- Ethical concerns you might have
- Compliance and disclosure issues arising from strategic partnerships
Please post comments or questions in advance of this session so we can make our time with John most productive.