Investment Advisor Opportunities
Creating a sustainable Wealth Management and Financial Planning Practice
At CPA2and Nobile Hinchey Private Wealth Management, team approaches, integrity, and comprehensive planning services are hallmarks of our organization. We realize that in order to serve our clients best we must align with other financial professionals and affiliate with only the highest caliber of planning professionals committed to offering wealth management services with integrity. If you are interested in creating a sustainable planning practice and working with other team oriented professionals please contact Mike Nobile at [email protected] to learn more.
TOP 10 REASONS WHY FINANCIAL ADVISORS SHOULD CONSIDER WORKING WITH CPAs
1. More cost-effective and profitable than seminar selling.
- It’s not unusual to spend an average of $3,000–5,000 per seminar in the hope of getting 3–5 potential leads, or spend signiﬁcantly less than that and learn how to develop a proﬁtable relationship with a CPA and potentially have access to 300–500 leads that are warm, endorsed by the CPA, and could lead to an 85–90 percent closed when you get to the table!
2. Increase your revenue potential.
- Our system is being used successfully by hundreds of Wealth managers throughout the country and has a 15-year track record that is proven, practical and profitable.
- Ability to prodcue commissions and fees that average 10-20% of a CPA firms' gross billings.* (Example, if a CPA firm has $1,000,000 in annual gross billings, once our alliance is up and running and the CPA2program is followed, the CPA and Wealth manager will share commissions and fees of approximately $100,000 to $200,000 per year that is generated from wealth management services.)
3. Learn to work with CPAs rather than compete with them!
Competitive landscape is different. Clients have more options than ever before (CPAs, banks, P&C agents, attorneys, etc.).
- CPAs have become more active in the overall financial planning process. 47 out of 50 states allow CPAs to move into this business and collect commission/fees.
- CPAs are regarded as the most trusted advisor for the high net worth market.
- 90%/10% Survey (Accounting Today, 2001) - 90% of clients would prefer to work with their CPA for wealth management services; however, only 10% actually are doing it. Big opportunity!
4. Increase the quantity and quality of clients.
- High-net-worth clients.
- Business owners/family businesses.
- Inter-generational opportunities.
5. Experience higher closing ratios.
- Endorsement from the CPA.
- Include CPA at all stages vs. the end (deal killer).
- Potential revenue opportunities for the CPA.
- Inter-generational opportunities (comprehensive solutions).
6. Increase your potential commissions per case.
- Comprehensive planning vs. product peddling.
- Increased AUM opportunities.
- Estate planning (high-net-worth clients).
- Business planning (business owners).
- Life insurance, annuities, planning fees.
7. Become part of the multidisciplinary practice model.
- Clients desire the team approach.
- The efficiencies gained from working with a team of professionals.
- Gain greater access to more clients.
8. Gain a competitive advantage.
- Resource to the CPA industry.
- Specializing in helping CPAs help their clients.
- Strategic alliance specialists (banks, P&C agents, a㈀orneys, etc.).
- Greater credibility with prospective clients.
9. Replace other costly and many times ineffective prospecting techniques.
- Seminar selling, as previously mentioned.
- Client-appreciation events (bring a friend).
- Golf outings (bring a prospect).
- Buying/working lists (business owners, mortgage leads, orphans, etc.).
10. The CPA needs you! (Financial advisors are the key!)
- CPA doesn’t have the time, expertise, skill set, or desire.
- Cosourcing: Better for CPAs and better for their clients.
*Source: Track record from Hank Zewald of Quantum Financial Partners, the original architect of the CPA2program.
Securities by licensed Individuals Offered Through Investacorp. Inc., a Registered Broker/Dealer, Member FINRA, SIPC.
Advisory Services Offered Through Investacorp Advisory Services, Inc., a SEC Registered Investment Advisory Firm.