How Successful CPA-Advisor Partnerships Develop
Different Paths to Partnership
1. Cold Outreach Success (Justin & Tim)
- Tim normally rejected advisor cold calls
- Justin's script stood out by being different from typical product pitches
- Unique achievement: First advisor to get multiple meetings with Tim
- Success factor: Focus on solutions rather than selling
- Built relationship through four initial meetings
- Take-away: Quality of approach matters more than method
2. Facilitated Introduction (Marilyn & Amy)
- Amy's catalyst: Frustration with traditional CPA model
- 18 years experience at traditional firm showed limitations
- Actively sought better solutions for clients
- Met through Elite Resource Team seminar
- Virtual partnership across states (Florida/Indiana)
- Demonstrates geography isn't a barrier
- Example: Recently collaborated on $3.5M client bonus situation
3. Natural Network Development (Rob & Ron)
- Initial connection: Rob met mutual contact in parking lot discussing golf
- Contact provided Ron's card, which Rob held onto for months
- Later invited to same referral group
- Formed their own group when existing one didn't fit
- Deepened relationship through shared drive to San Diego conference
- Now share office space and daily interaction
Keys to Success
1. Regular Communication
- Structured Approach:
- Weekly scheduled meetings non-negotiable
- Daily impromptu conversations as needed
- Mix of in-person and virtual communication
- Dedicated time for client case reviews
- Regular strategy sessions for practice development
2. Shared Client Focus
- Real World Example:
- Amy & Marilyn's consulting client became proving ground
- Worked through different approaches and styles
- Marilyn's process orientation balanced Amy's creative approach
- Result: Stronger partnership through client success
- Current example: Collaborating on $3.5M bonus strategy
- Looking beyond immediate solutions to employer-level planning
3. Complementary Skills
- Specific Examples:
- Amy (CPA): Traditional tax expertise, client relationships
- Marilyn (Advisor): Process-driven, strategic planning
- Tim (CPA): Multiple office management, prior planning experience
- Justin (Advisor): Marketing, implementation skills
- Rob (Advisor): Retirement planning expertise
- Ron (CPA): Deep tax knowledge, business acumen
4. Trust Development Activities
- Specific Steps:
- Initial meetings focused on philosophy alignment
- Shared educational experiences (conferences, training)
- Joint client meetings to establish credibility
- Regular planning sessions
- Open discussion of challenges
- Celebration of successes
5. Investment in Relationship
- Key Activities:
- Travel together to conferences
- Regular strategy sessions
- Shared office space when possible
- Joint marketing initiatives
- Combined client events
- Mutual professional development
Critical Success Factors
1. Patience
- Accept 6-18 month relationship building period
- Focus on foundation before results
- Allow natural progression of trust
2. Process Adherence
- Follow structured approach to meetings
- Use proven systems (CIQ, diagnostics)
- Maintain consistent communication
3. Client-First Mentality
- Focus on client outcomes drives cooperation
- Shared commitment to comprehensive solutions
- Results create relationship stability
4. Evolution Over Time
- Start with simple collaborations
- Build to more complex strategies
- Develop deeper integration gradually
- Create sustainable long-term partnership
