Reconsider your focus.
By Russ Alan Prince
For accountants with high-net-worth practices, research study after research study has shown that there is no question that wealth managers and attorneys are the best referral sources for wealthy clients. Moreover, accountants have enormous opportunities with these clients as a significant percentage are not getting optimal results.
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Generally speaking, quite a few of the wealthy up to multibillionaires are satisficing instead of maximizing. The results they are getting are good enough, and they do not know they can get more. However, once they understand they are not getting optimal results, they will likely change the professionals they’re working with. While the possibilities for accountants with high-net-worth practices are extensive, there is still the matter of being introduced to the wealthy clients of wealth managers and attorneys on a preferential basis.
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