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How Advisors Can Get CPA Introductions

The Essential Question Every Financial Advisor Must Ask to Get CPA Introductions

Building strategic partnerships with CPAs is more crucial than ever. There's one simple yet powerful question that can open doors to these valuable relationships, regardless of whether you're meeting with prospects or existing clients.

The Magic Question

The key question is disarmingly simple:

"Tell me, how do your taxes get done?"

This question naturally leads to one of two response categories, each with its own strategic follow-up path.

Response Scenario 1: Self-Preparation or Basic Tax Service

When Clients Handle Their Own Taxes or Use Basic Services

If your client responds that they:

  • Do their taxes themselves
  • Use H&R Block
  • Use similar basic tax preparation services

The Strategic Follow-Up

Your response should be: "Interesting, would you like a CPA that I have a relationship with to do a free tax return review?"

Two Possible Outcomes:

  1. If they decline due to simple tax circumstances, respectfully move on
  2. If they show interest, you have two options:
    • Connect them with your existing CPA partner
    • Add them to your prospect list for future CPA partnerships

Response Scenario 2: Existing CPA Relationship

When Clients Have a Professional Tax Preparer

Follow this conversation flow:

  1. Ask for the CPA's first name
  2. Ask how long they've been working together
  3. Request a rating: "Out of great, average, and poor, how would you rate [Name] as a CPA?"

Handling Different Ratings

For "Great" or "Average" Ratings:

  1. Ask why they gave that rating
  2. Follow up with:
    • Emphasize the importance of professional coordination in today's complex environment
    • Request an email introduction
    • Mention potential client referrals for their CPA

For "Poor" Ratings:

  • Treat these clients similarly to those without a CPA
  • Offer to connect them with a tax professional for a free review
  • Add them to your prospect list for future CPA partnerships

The Follow-Up Process

Making the Introduction Request

Use this script: "Based on what you've shared, I think it's really important that you introduce [CPA's name] and me. There's more complexity than ever between market changes, potential tax changes, and interest rate fluctuations. You're in a better position when your professionals have an open line of communication."

The Email Process

  • Offer to send a simple email for them to forward
  • Include yourself in the CC
  • Make it an easy "yes" for the client

Expected Results

With consistent implementation:

  • 50% conversion rate to CPA introductions
  • 9 out of 10 clients willing to make the email introduction
  • Potential for 5-10 new CPA introductions weekly (based on 10-20 meetings)

Building Your CPA Network

When developing these partnerships:

  • Understand their ideal client profile
  • Know what services they're willing to offer (like free reviews)
  • Create clear value propositions for both parties
  • Use accumulated introductions as leverage when approaching new CPAs

Remember: This strategy works with both prospects and existing clients, creating a continuous stream of strategic partnership opportunities while enhancing your value proposition to clients.

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