Advisors MUST Understand This Before Trying To Form Strategic Partnerships with CPAs

How to Handle CPAs Who Already Have Partnerships: Key Insights for Financial Advisors and Insurance Agents

Hey everyone, Anthony Anderson here from Elite Resource Team, and today I want to share something super important that every financial advisor and insurance agent should know before sitting down to discuss a strategic partnership with a CPA, enrolled agent, or accountant.

Here’s the deal: They already have a relationship with someone like you—at least one, if not two or three. And that’s okay.

This question actually came up from a new member in our training program, and he said, "I had a good first meeting, but when the CPA mentioned they already had a strategic partnership with someone who does what I do, I didn’t know how to respond."

Well, here’s the reality—you have to assume they already have a relationship like this. The worst thing you can do is freeze or act surprised when they bring it up.

How to Respond When They Already Have a Partnership

So, what do you say when they tell you this? Here’s the response that works:

“Well, of course you do! Honestly, I’d be surprised if you didn’t. I can’t remember the last time I met with a CPA who didn’t already have a partnership in place, maybe even two or three. But I’m curious, how do you work with them?”

What you’re doing here is acknowledging the situation with confidence and asking questions to dig deeper into how those relationships actually work.

Let them explain, and as they do, ask follow-up questions like:

• How many relationships are we talking about?
• What does that partnership look like?
• Are they with a big company or a small company?

While it may seem like it matters, the specifics of their current partnerships don't change your overall response, but knowing more about it will help you navigate the conversation better.

The Best Response: Addressing the “Outdated” Model

After they've described how they work with others, you hit them with this:

“Oh, it sounds like you’re describing the outdated referral model. That’s not actually how I work with CPAs.”

Then, pause. Use silence to your advantage here. Silence is underutilized, but especially in this situation, it’s powerful. They’re used to advisors doing all the talking, so flipping that script creates curiosity.

Eventually, they’ll ask: “What do you mean? How do you work with CPAs?”

Introducing Your Value Proposition

Here’s where you present your elevator pitch. If you haven’t prepared one, now’s the time to do it. I’ve covered this in detail in another video, but the short version goes like this:

“I help CPAs become more proactive and holistic with their best clients by working with a team of proactive planning specialists.”

And then, silence again. Let them absorb it.

Check out that video I mentioned to fine-tune your elevator pitch, but make sure your focus is on who you serve and how you bring value. Don’t dive into details like licenses or company names—focus on your unique approach.

Key Takeaways

To recap, before you sit down with a CPA or other professional, assume they already have partnerships in place. Be ready to respond confidently:

• Acknowledge that they already have relationships.
• Ask them to describe how they work with those partners.
• Then, explain how you’re different with the outdated model statement and your unique value proposition.