WHY IT WORKS

Explore how Sales Managers, Advisors, and CPAs have increased revenue by employing the Branch Strategic Partnership Program.

Branch Strategic Partnership Training Success

 

EXPLORE THE BASICS OF PARTNERSHIP TRAINING:

BRANCH TRAINING HAS A PROVEN TRACK RECORD: 
Branch partners with Financial Advisors.  We deliver all the tools you need to transform your business by creating revenue producing partnerships with CPAs and P&C shops. 

DISCOVER HOW BRANCH CAN HELP YOU TAKE YOUR BUSINESS TO THE NEXT LEVEL: 
Welcome to fast-track training. When time is limited and you need to make the most of every meeting, you need Branch. 


Industry Testimonials-1
1 Why CPAs Should Partner with Advisors
1OVERCOME THE OBSTACLES

AN ADVANTAGEOUS RELATIONSHIP FOR THE FINANCIAL ADVISOR

  • Two heads are better than one. Clients appreciate having a team of experts working for them.

  • CPAs maintain the role of trusted advisor, handling financial management, while Financial Planners tackle wealth management, providing additional revenue sources and growth opportunities.

  • Multi-leveled expertise and a concise, streamlined approach benefits clients and increases client retention

  • One-stop shopping eliminates the need for meetings that might overlap in content, thereby saving the client time.

  • Financial Planners gain a guaranteed additional client base when they partner with a CPA.

  • CPAs are usually hardworking and detail-oriented experts. The test one must pass to become a CPA is one of the most difficult in the area of finance, so CPAs bring a level of expertise that adds value to the Financial Advisor’s practice.

COMMON OBJECTIONS FINANCIAL ADVISORS HAVE TO PARTNERING WITH CPAs

Q: Can’t I simply refer a CPA to my clients?
A: Clients want one-stop shopping. Offering CPA services is beneficial because you keep business in-house rather than referring to someone else. Additionally, referrals are not guaranteed revenue. Partnering with a CPA guarantees additional revenue since you add clients. A referral list is just that – potential clients whose trust you have to work hard to earn.

Q: Why do I need a CPA? Can’t I handle all of my clients’ needs?
A: One of the hardest things for Financial Advisors to do is let go of their egos. CPAs are experts in their field. They work hard and are very detail-oriented. Your clients need this expertise and will be appreciative of your ability to provide these services. It’s a win-win for all involved – CPA, Financial Advisor, and client.

Q: Why should I share my revenue with a CPA?
A: CPAs work hard. Sharing the revenue 50/50 is only fair. You benefit in the long-run since you’ll be gaining a guaranteed additional client base and broadening your services. Happy clients are not only more likely to stay with you; they are also likely to refer your services to others. 

AN ADVANTAGEOUS RELATIONSHIP FOR THE CPA

  1. From a monetary standpoint, the CPA will benefit tremendously. Alone, the CPA does not receive any percentage of clients’ gains. However, partnered with a Financial Advisor, the CPA takes a 50% share of the Financial Advisor’s fee.

  2. Specificity of the job coupled with the growing trend to do taxes online equals a troubling forecast for CPAs. Online services like Turbo Tax simplify the tax process, making it easier to bypass the CPA. As a result, CPAs must broaden the scope of their services, and partnering with Financial Advisors allows them just that.

  3. Clients view more comprehensive services as an attractive asset. As the financial needs of clients are becoming more complex, CPAs must expand upon their services to make clients happy. This, in turn, will increase client retention rates and provide additional revenue streams.

ACCORDING TO STUDIES, CLIENTS ARE LOOKING FOR:

  • Trustworthy, Objective Advice

  • An Integrated Vision

  • Responsive Service

  • Broad Expertise

  • Product Understanding

  • In-House Ability to Manage All Financial Needs

RECENT FINDINGS INDICATE THAT MANY CLIENTS HAVE EXTENSIVE FINANCIAL PLANS BUT DO NOT DISCUSS THEM WITH THEIR CPAs.
CONSIDER THESE SPECIFIC AREAS NOT CURRENTLY TAPPED BY CPAs:

  • Budget Plans

  • Retirement Savings Plans

  • Plans to Preserve Wealth

  • Comprehensive Financial Plans

  • Plans for a Specific Financial Goal

  • Estate Planning

  • Eldercare Financial Plans

Failing to expand upon offered services is risky considering that many CPAs are moving in that direction. Most clients view their CPA as a trusted advisor. Since the relationship is based on trust, it makes sense to expand services in order to provide comprehensive advice in all financial situations.

HOW TO TACKLE CPA CONCERNS:

Q: Won’t I lose the ability to maintain independence and objectivity if I partner with a Financial Advisor?
A: The good news is that with our process and the strategies we will implement, CPAs will be able to be independent and objective. This partnership will not be a “one size fits all”; each and every client relationship will be unique.

Q: Doesn’t the AICPA frown upon a partnership with a Financial Advisor?
A: This is not true. In fact, the AICPA Horizons 2025 forecast indicates that an overwhelming majority of CPAs believe they need to expand upon their services to make themselves more marketable to new and existing clients.

Q: Can’t I handle all of the needs of my clients on my own?
A: According to recent studies, clients’ needs are becoming increasingly complex. Gone are the days of simple financial needs, and CPAs must recognize this trend in order to maintain relevance.

Q: Why can’t I just refer a Financial Advisor to my clients? Is there really a need to partner with a Financial Advisor?
A: You miss out on potential revenue streams and the ability to strengthen the trust between you and your clients if you simply refer someone. A partnership is a more solid relationship for all involved – Financial Advisor, CPA, and client.

 

STEP-BY-STEP APPROACH TO CONVERTING CPAs AND P&C SHOPS INTO PARTNERS

[ The below courses are available in our training program. ]