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

Referrals are your best way to gain the trust and business of the super-rich.

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

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: Four Steps of Stress Testing | The Smart Way to Handle Financial Products | Three Types of Family Offices for the Wealthy | Virtual Workshops Guide Clients through COVID | Thought Leadership Is More Precious Than Ever
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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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Check the bottom line.

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

The Everyone Wins Process is at the center of how you can maximize wealthy client relationships. Most often, this is a function of aligning interests. The process is also core to generating new business from these clients and other professionals. The ability to add value often plays a significant role in being referred by other professionals to their best clients.

MORE: The Smart Way to Handle Financial Products | Three Types of Family Offices for the Wealthy | Four Ways to Leverage Your Referral Network | Four Qualities of the Wealthy | It’s All About Your Wealthy Clients
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At the same time, there are many different ways to frame your conversations based on the self-interests of the wealthy to optimize their financial worlds and accelerate results. Stress testing is one of those ways.
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Accounting firms either do or don’t. But here’s how to do it right.

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

Accounting firms adopt one of two business models when it comes to offering financial products for fees or commissions.

Either they do or they do not.

MORE: Three Types of Family Offices for the Wealthy | Virtual Workshops Guide Clients through COVID | High-Net-Worth Business Development in Four Steps | 16 Questions to Set Your Practice Goals | Conviction + Process + Expertise = Your Next $5 Million
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A fancier way of saying this is that an accounting firm has adopted a product-neutral or product-inclusive financial product business model.

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ALSO: Three drivers of exceptionalism.

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

When it comes to their financial and personal lives, the wealthy are increasingly attracted to the family office model. At the very high end, there is a strong preference to create a single-family office. For the wealthy for whom the costs of a single-family office are unreasonable or do not want the management or oversight responsibilities, there are multi-family offices and virtual family offices.

MORE: Virtual Workshops Guide Clients through COVID | Thought Leadership Is More Precious Than Ever | There Are 4 Types of Professionals | 6 Steps to Maximize Referrals | A High-Net-Worth Practice in Four Steps
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With the family office model, you are providing a broad array of expertise holistically. Consequently, you can deliver substantial value to the wealthy. Many accounting firms provide family office services. While family office is in the name of these practices, a large percentage of them are offering a limited menu of single-family office capabilities. The services tend to comprise business management expertise and other accounting and tax-related capabilities.
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