The 3 Most Common Mistakes Financial Advisors Make with CPAs and Attorneys
What's up, everyone? I'm Anton Anderson, co-founder of Elite Resource Team, and in today’s video, I’ll be talking about the three most common mistakes that financial advisors and insurance agents make when approaching CPAs, attorneys, and other strategic partners.
Mistake 1: Leading with Product
Too often, financial advisors and insurance agents approach strategic partners by leading with product. They think a CPA or attorney will be impressed by the latest shiny object, like:
- A 7% income rider annuity
- Investment models that outperformed the market
- A sophisticated concept like premium financing
Don’t lead with product. As soon as you do, you become a salesperson. Instead, focus on the value of the partnership.
Mistake 2: Scarcity Mindset
In our industry, we’re used to competing for business. This creates a scarcity mindset, even if we don’t realize it. When you approach CPAs or attorneys, they can sense this desperation.
Remember: their industries are changing just as much as ours. A good partnership is a win-win. If you're the right fit, they need you as much as you need them.
When sitting down with a potential partner, ask yourself:
- Is this someone I’d enjoy working with?
- Is there synergy between us?
Approach the meeting as if you’re interviewing them, not the other way around.
Mistake 3: Addiction to Immediate Gratification
Many advisors are addicted to immediate gratification—buying leads or running seminars to get quick results. But with strategic partnerships, you must invest time, energy, and loyalty to build trust.
Expecting results in just two weeks? That’s not how strategic alliances work. The best partnerships take time and are built for the medium and long-term.
If you need quick results, keep running lead generation campaigns, but start carving out time to invest in these strategic relationships. In six months or a year, you’ll be thanking yourself.
Conclusion
The three common mistakes I see are:
- Leading with product
- Holding a scarcity mindset
- Chasing immediate gratification
Let go of these, and you’ll be miles ahead of other professionals approaching CPAs, enrolled agents, and attorneys. If you found this helpful, hit the Like button! We release free educational content like this every Friday on our YouTube channel. And if you’re a financial advisor or insurance agent interested in forming partnerships with CPAs and attorneys, check the description below for a complimentary 45-minute call with us.
