58. Get high-quality, affluent referrals from CPAs.
Get the names of your clients’ CPAs. It’s better to market to a lot of CPAs than get rejected by one and stop. Never depend on only one CPA to give you referrals. Whenever you meet with a new prospect, or even an existing client, ask who their CPA is. Tell the client you may be able to save them time and expense spent on their taxes. Call the CPA and let them know that you share a common client. Seventy-five percent of the time, they will be more than happy to meet and discuss your mutual client. At that point you can also mention what you do and how it will benefit their clients.
—Dr. Kerry Johnson
57. The sweet spot.
Forming professional relationships takes time. Advisors need to learn about the other professionals’ current client base, their sweet spot in terms of ability, their favorite types of clients and the depth of their resources or staff. I prefer to have one or two at most within each area of expertise. This is helpful toward building a better working relationship and enhances the possibility that you may begin a reciprocal relationship for business development. You must, of course, make sure that your alliances will be stylistically compatible with your clients and able to deliver the type of expertise that you need to properly serve your clients.
What Your Peers Are Reading
—John P. Napolitano CFP, CPA, PFS, MST
56. Speak for success.
Develop attorney and CPA relationships by speaking at Bar Associations and CPA Society meetings. Sponsor and speak at Saturday morning breakfast meetings for business owners, doctors, architects etc.
55. Get the word out.
I place local ads including church and other non-profit newsletters/magazines when targeting prospective clients. Ads in local/city/county business magazines help when prospecting alliances with other professionals.
In particular, belong to your local “Task Force on Aging” or TRIAD. You can build relationships with other professionals who work in the senior market, thus getting more referrals.
—Paula Q. Wallace