Attract High Net Worth Business Owners by Partnering With CPAs


There are 3 sets of people who generate fast and solid trusting
relationships with business owners.

  • Their pastor or minister
  • Their medical doctor
  • Their CPA

Since CPAs are fiercely protective of their clients (keeping the IRS away), business owners develop a solid trust in their advisor just by virtue of the accounting profession.

Skilled, proactive CPAs regularly free up cash from business operations to fund better solutions.

When you collaborate with the right CPA, you can tap the power of teamwork to generate superior results. Because CPAs create quick results, that trust is built more quickly than advisors waiting for results to emerge over time.
Gaining the Trust of CPAs is Difficult at Best,
Impossible at Worst

With traditional CPAs, surplus cash is rarely found in the business because most accountants focus on recording past results. If your desire is to connect with a CPA who will introduce you to business owners, make sure that they are specially trained and have a certification in advanced tax reduction strategies. This will better ensure the business will have money available to invest!

Financial Advisors and CPAs too often compete for the client’s trust and loyalty. Under the traditional referral model, when a CPA sends his client to the recommended advisor, they are anxiously waiting to see if their partner will try to “steal” the relationship. And it goes both ways! Many CPAs hold investment licenses and advisors wonder if they refer their client, will their CPA partner keep them from coming back?

What’s Needed to Succeed?

First, make a commitment to work only with CPAs who can actually uncover surplus cash in the business. There are special designations indicating the accountant has had advanced training in tax reduction strategies. These CPAs will make ideal partners and will be most qualified to collaborate with you on engagements. With advanced tax reduction strategies, trust is built more quickly because it produces immediate results.

Next, allow the CPA to build the trust for you collectively as a team. Stop using the old tired out referral model of working with other professionals. Relationships are in style and represent better service to the client. Instead of “sending a client” to one another, learn how to work together as a team on strategic planning. The business owner will love the concept of having a board of directors, and it eliminates the competitive tension that can creep into even the most promising relationships.

Finally, help the CPA by bringing qualified businesses to the table and assist them with value pricing their services. This support does three things for a financial advisor.

ItsupportsIt supports the growth of their business

MakesMakes for a more effective team

ItbuildsIt builds trust in you

Unsurprisingly, most CPAs are not very good at sales and marketing. They are good however, at attracting high net worth businesses and gaining their trust quickly (see above). When you can provide talents in sales and marketing you offer something the CPAs need in the relationship. When both advisor and CPA bring complementary strengths, it is a powerful dynamic.