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Strategic Alliances Becoming the Partner of Choice Darryn Pope, CFP ®, CFS.

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Presentation on theme: "Strategic Alliances Becoming the Partner of Choice Darryn Pope, CFP ®, CFS."— Presentation transcript:

1 Strategic Alliances Becoming the Partner of Choice Darryn Pope, CFP ®, CFS

2 2 Magic Formula $

3 3 Friday Morning Quiz Definition of a CPA … A.The most trusted advisor of my favorite clients B.A green-visored pencil-pusher who doesn’t understand or appreciate the myriad wonders of life insurance 1 point 2 points

4 4 Friday Morning Quiz If I could show you a way to __________ and __________, could we do business today? A.Yes B.No 1 point 2 points

5 5 Friday Morning Quiz A synonym of CPA is … A.Potential partner B.Deal-killer 0 points 2 points

6 6 Friday Morning Quiz Would you rather pay taxes NOW, LATER, or NEVER? A.Yes B.No 1 point 2 points

7 7 Friday Morning Quiz Do you know how to play craps? A.Yes B.No 12 points 0 points

8 8 Friday Morning Quiz 20 points 4-19 points 3 points A+ Passing ? Grades:

9 9 Agenda Finding Strategic Alliance Prospects Recruiting Strategic Alliances The 3 Keys to Managing the Relationship Compensation Alternatives CPA Firm Dashboard

10 10 Finding PSFs Strategic Alliances are: Mutually beneficial Fair Transparent Accountable Strategic Alliances are not: ≠Referral-based ≠Transaction-based ≠Unpredictable ≠Focused on you the whole is greater than the sum of its parts. Partnerships:

11 11 Finding PSFs 1.Current relationships 2.Your own book 3.Events 4.Wholesalers 5.Seminars 6.Donut/pizza runs 7.Direct mail and e-mail

12 12 Finding PSFs Prioritize by type: – Location – Size – Look and Feel Prioritize by registration: – Licensed – Previously licensed – Not licensed

13 13 Recruiting PSFs Competitors Revenue Experienced Ethical Good service Great products Client-centered #1 #2 #3 #4 #5 Why choose you?

14 14 Advisor Recruiting PSFs Advisor Process CPA Firm Advisor Marketing Sales

15 15 Recruiting PSFs What really makes you different? What really makes you better?  Build their brands  Involvement  Fair compensation  Transparency  Process

16 16 Plans and Processes

17 17 Business Development Timeline Review and Reset Review Business Plan Existing book Top 10 Clients Top 10 Opps Set meetings with Top 10s Set goals The Firm Dashboard Segment Prioritize and rank Top 40 Management: Over-deliver Over-serve Implement and Expand 10/10 Focus Priority 1 Priority 2 Priority 3 Expand solutions Influence Process

18 18 The Three Keys After Tax Season Schedule – May Neal / Shelton Manning Consistency Accountability Transparency Consistency

19 19 The Three Keys Accountability Consistency Transparency

20 20 Compensation Alternatives Fee-splitting* (State and b/d licensing requirement may apply.) Facilities and services agreement Referral fees Ownership

21 21 CPA Firm Dashboard TP and SP Ages AGI Interest Income and Tax-exempt Income Schedules B, C, D, E, F Invoice Demographics:

22 22 Firm Dashboard

23 23 Firm Dashboard

24 24 Firm Dashboard

25 25 Trading on Action “So many movies trade on action, and nobody really cares about the outcome.”

26 26 Key Points Stop hoping for referrals. – Think like a partner. – Interview. Be consistent, accountable, and transparent. – Develop your process. – Manage the relationship. Do it differently – care about the outcome.

27 27 CPA 2 Connect Coaching Program cpa2connect @cpa2connect cpa2connect Darryn Pope, CFP ®, CFS (866) 834-1040

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