Guiding Clients through COVID

You can lead a virtual workshop to help them focus their perspective.

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

Helping the wealthy think through where they are and what they can do is extremely powerful in establishing and strengthening relationships. It also expeditiously produces more business for accountants and other professionals.

MORE: Help Your Referral Sources Become Thought Leaders | The New Way to Get the Best Clients | The Four-Step Process for Client-Focused Business Development | Life Insurance as Part of Wealth Management
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

We converted the Everyone Wins Process into a supportive workshop where the initial interaction can be conducted with a small group. It is also effective in one-on-one settings.
READ MORE →

Help Your Referral Sources Become Thought Leaders

Businessman smiling and talking on phoneThe pandemic has made knowledge more precious than ever.

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

An approach you can use and one that can strongly differentiate you from your competitors is to add value that helps the professionals reach their goals and become more successful. Some of the more viable approaches involve helping them become thought leaders and providing them with turnkey business development solutions.

MORE: The New Way to Get the Best Clients | Maximize Referrals from Wealthy Clients | Building a High-Net-Worth Practice During COVID-19 | Setting Financial and Practice Goals During COVID-19
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

Adding value with thought leadership: Becoming a thought leader is one way just about any professional can become significantly more successful.
READ MORE →

The New Way to Get the Best Clients

executive on phone in officeFour essential concepts for leveraging the referral network you already have.

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

Most professionals, including accountants, get most of their client referrals from satisfied clients. The complication is that if you want to work with wealthier clients, the likely best way to source them is from other professionals they are currently engaging.

MORE: Maximize Referrals from Wealthy Clients | What the Wealthy Want | The Essential Process for Building a High-Net-Worth Practice | 4 Components of a High-Net-Worth Practice | The Coming Boom in Tax Services for the Super-Rich
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

If you aim to work with the ultrawealthy and even the super-rich, be aware that as you move up the wealth hierarchy, they are less and less inclined to refer you to other people. It is something of a Catch-22. In general, the better you are, the more the very wealthy are disinclined to share. That is, they are less likely to refer you to their financial peers. Also, if you are maximizing your wealthy client relationships, there is hesitancy by these clients to make referrals because of a strong preference for extreme confidentiality (if not secrecy).
READ MORE →

Maximize Referrals from Wealthy Clients

Female executive greeting coupleHow to foster opportunities.

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

Join Prince and Glomkski for a four-hour “Masterclass: Build Your $5-Million High-Net-Worth Practice,” with one-on-one coaching. Attendance limited. View Details Here.

As part of the Discovery process, you are ascertaining who your wealthy clients can refer to you. In empirical study after study, accountants (as well as other professionals) say that they get most of their client referrals from their current clients. They also say that this happens because they do an excellent job for their clients.

MORE: What the Wealthy Want | The Four-Step Process for Client-Focused Business Development | Building a High-Net-Worth Practice During COVID-19 | The Essential Process for Building a High-Net-Worth Practice | What the Wealthy Need | Setting Financial and Practice Goals During COVID-19 | 4 Components of a High-Net-Worth Practice | Life Insurance as Part of Wealth Management | Mistresses, Mister-esses and Accountants | The Coming Boom in Tax Services for the Super-RichGoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

Another insight we find in the research is that very few professionals are doing much to foster getting referrals from their highly satisfied clients.
READ MORE →

What the Wealthy Want

https://cpatrendlines.com/2020/10/14/maximizing-wealthy-client-relationships/Remember:  When managing high-net-worth clients, it’s all about them, especially in the time of COVID-19.

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

Take a moment to consider:

How hard is it to find and bring on a wealthy client?

What does it take to keep a wealthy client highly satisfied and doing more business with you?

MORE: The Four-Step Process for Client-Focused Business Development | Building a High-Net-Worth Practice During COVID-19 | The Essential Process for Building a High-Net-Worth Practice | What the Wealthy Need | Setting Financial and Practice Goals During COVID-19 | 4 Components of a High-Net-Worth Practice | Life Insurance as Part of Wealth Management | Mistresses, Mister-esses and Accountants | The Coming Boom in Tax Services for the Super-Rich
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

It commonly takes a lot to win a wealthy individual or family as a client. It takes a lot of effort to keep the wealthy as clients, let alone do more business with you. Not only must you deliver top-quality expertise, but you often need to create a sensational experience. You must build a high level of rapport. Yet, a great many accountants are not maximizing their relationships with their wealthy clients.
READ MORE →

The Four-Step Process for Client-Focused Business Development

Everyone Wins… Here’s How.

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

When it comes to working with the wealthy, all your expertise and all your firm’s capabilities and all the other top-notch experts you can bring to the table are “givens.” Put another way … they are table stakes, and you must have table stakes to play. You absolutely need a top-of-the-line high-net-worth practice.

MORE: Building a High-Net-Worth Practice During COVID-19 | The Essential Process for Building a High-Net-Worth Practice | What the Wealthy Need | Setting Financial and Practice Goals During COVID-19 | 4 Components of a High-Net-Worth Practice | Life Insurance as Part of Wealth Management | Mistresses, Mister-esses and Accountants | The Coming Boom in Tax Services for the Super-Rich
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

As for your expertise, if you have a wealthy entrepreneur who wants to sell her business in a couple of years, there are some ways to mitigate capital gains and estate taxes. Tax mitigation could come from the use of selected trusts or establishment of an offshore pension plan. The fact that you can do all these things does not inherently differentiate you from another quality accountant and many other high-caliber professionals. It most likely will separate you from many possible competitors, but they are not really the competition.
READ MORE →

Thursday, Oct. 29: Building a $5 Million High-Net-Worth Practice, with Russ Alan Prince and Anthony Glomski

https://cpatrendlines.agassetadvisory.com/masterclass/
Guidelines for Sourcing and Working With the Wealthy During the Covid-19 Crisis and Beyond. Get the special PRO Member rate.

With Russ Alan Prince and Anthony Glomski

Thursday, Oct. 29, 11 am ET

4-hour intensiveworkshop with one-on-one coaching / Attendance limited to 10 seats

(Sorry, no CPE)

READ MORE →

Building a High-Net-Worth Practice During COVID-19

woman and man wearing masks, looking at laptopThe four types of professionals … and which one you need to be.

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

Over the last decade with rising markets and the ranks of the wealthy swelling, it has certainly been possible to build a $5 million high-net-worth practice.

MORE: The Essential Process for Building a High-Net-Worth Practice | What the Wealthy Need | Setting Financial and Practice Goals During COVID-19 | 4 Components of a High-Net-Worth Practice | Life Insurance as Part of Wealth Management | Mistresses, Mister-esses and Accountants | The Coming Boom in Tax Services for the Super-Rich
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

Even with soaring competition, using the very same approach as we are discussing, you could have consistently generated those kinds of revenues or better.

So, what is the difference today? The difference is COVID-19.
READ MORE →

The Essential Process for Building a High-Net-Worth Practice

Businessman working netbook outdoors, wearing sunglassesVital to coping with the COVID-19 crisis.

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

A lot goes into building a $5 million high-net-worth practice.

MORE: What the Wealthy Need | Setting Financial and Practice Goals During COVID-19 | 4 Components of a High-Net-Worth Practice | Life Insurance as Part of Wealth Management | Mistresses, Mister-esses and Accountants | The Coming Boom in Tax Services for the Super-Rich
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

It is a given that you will need wealthy clients. For most accountants, most of these wealthy clients are very likely to be successful business owners. But that is not always the case. You can potentially achieve your financial end goals with wealthy inheritors, for example.

READ MORE →