Here’s what you’re looking for: Anthony Glomski and Russ Alan Prince

ADVISORY & CONSULTING

Stress Test: Will Clients Get the Outcome They Want?

Keep their cleverness from turning fraudulent.

By Anthony Glomski and Russ Alan Prince
Your $5-Million High-Net-Worth Practice

For the extremely wealthy, financial stress testing is quite common. Just consider the following case.

MORE: Why the Ultrawealthy Favor Family Offices | Three Steps to Thought Leadership | Six Ways to Offer Financial Products | Where to Find Wealthy Clients | Take Time to Tune Your Practice Goals | Here’s Where Your Next $5 Million Is Coming From | Help Clients Avoid Fallout from Personal Complications
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A super-rich individual (net worth = $500 million or more) asked us to examine a tax mitigation strategy he was using. He was quite proud of how ingenious it was and how well it worked. The complication was that some of his business dealings were under scrutiny, and he wanted to make sure his wealth planning would not cause any problems. As part of this tax strategy, he had done several things:
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ADVISORY & CONSULTING

Why the Ultrawealthy Favor Family Offices

businesswoman smiling at two clients, man and woman

Six benefits they offer.

By Russ Alan Prince and Anthony Glomski
Your $5-Million High-Net-Worth Practice

In many ways, the accounting industry is under pressure from fee compression and seriously increasing competition. The current crisis is exacerbating the problems some accounting firms are having.

MORE: Three Steps to Thought Leadership | Referrals Best for Gaining Wealthy Clients | Family Offices Come in Three Types | How Everyone Can Win | Nurture Referrals from Wealthy Clients | Four Steps to a High-Net-Worth Practice | Why Tax Planning Matters So Much to the Wealthy
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At the same time, certain types of clients and sets of services prove to be extremely profitable for accounting firms. One such type of client is the ultrawealthy. Furthermore, a potentially highly profitable segment of the ultrawealthy is those with single-family offices.
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PRO Member Exclusive

Three Steps to Thought Leadership

hand below light bulb

Will you create, curate or both?

By Anthony Glomski and Russ Alan Prince

Becoming a thought leader is one of the most effective ways to effectively position you and your practice to the ultrawealthy and the other professionals who serve them. Think of it as complementing and augmenting the powerful relationships you are building using the Everyone Wins Process.

MORE: Set Your Processes Apart in Nine Steps | Is It Time for Your Firm to Outsource? | Raise CAS Awareness Among Your Clients | Which Clients Are Best for CAS | How Much Can Automating Bank Feeds Save You? | Wants vs. Needs: Why Not Fill Both? | Get Sticky with CAS
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While there are different ways people define a thought leader, the following captures the actions and outcomes of becoming a thought leader:
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ADVISORY & CONSULTING

Six Qualities the Best Wealth Coaching Candidates Share

They enhance not only their businesses but their lives.

By Anthony Glomski and Russ Alan Prince

Personal wealth creation coaching is a methodology we use with the wealthy, including the super-rich as well as select professionals. We start personal wealth creation coaching with clients by having them identify where they are today and where they want to be.

MORE: Referrals Best for Gaining Wealthy Clients | Why Stress Testing Matters | Help Pros Become Experts through Thought Leadership | Five Questions for Your High-Net-Worth Practice | What Your Wealthy Clients Aren’t Telling You | Three Ways the Wealthy Use Life Insurance | Why Tax Planning Matters So Much to the Wealthy
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We find there is always a gap. By leveraging and increasing their networks while enhancing the depth of their business relationships, we show them how to close the gap.
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ADVISORY & CONSULTING

Referrals Best for Gaining Wealthy Clients

Some of your potentials prefer obscurity.

By Anthony Glomski and Russ Alan Prince

Client-focused business development is fundamental. The Everyone Wins Process is effective at every level of wealth. As we said, the Everyone Wins Process is not only business-enhancing, it’s life-enhancing. So, if you are interested in working with the super-rich and with single-family offices, mastering the Everyone Wins Process will serve you well.

MORE: Why Stress Testing Matters | Six Ways to Offer Financial Products | Where to Find Wealthy Clients | Take Time to Tune Your Practice Goals | Here’s Where Your Next $5 Million Is Coming From | Help Clients Avoid Fallout from Personal Complications
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On the other hand, you will need to make modifications to how you operate, including what you can deliver to these cohorts when it comes to your high-net-worth practice. An obvious example is that a single-family office will turn to you for all that most high-net-worth practices can deliver. This is extremely rare.
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