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Is it me or did they just scrap the DOL law?
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Not CPA's do not like to do these. Most of the CPA's I am friends with tell me that they prefer to get all their CPE's done at once, in bunches. So they would rather go to an 8-hour all-day course than sit through a bunch of 1 or 2-hour lunches.Also, most of them actually want to get the annual tax and audit law updates through these courses, not just hear some FA talk about Roth IRA's.��Just my $0.02.
Most try to get all their CPE completed in early January and hope that any new/final regs have been released in time for the class.Also there must be thousands of different CPE courses, so most offices will only do the CPE's that are relevant for the bulk of their clients.
I agree w Ameriprise... the CPA mindset is that they are owed referrals from us slimy salespeople and in a million years wouldn't stoop so low as to allow a client of theirs to be sold a product by one of us. To take it a step further, most appear braindead when discussing any long term client solution (I.e. Roth conversion) that may serve long term purposes but doesn't reduce their 2017 tax bill. And therefore continue to think we're lying to earn a buck. We have a CPA in house and my personal CPA is one of the exceptions to that rule; otherwise, I've almost given up that networking idea.
OP you need to change your thinking. CPA's need help in their own business and their own strategy. You're going about the CPA relationship the wrong way. Instead of making them feel like you're just wanting referrals and you will reciprocate with fee sharing, you first need to help them with their business. CPA's are lost but proper coaching of them is a way to win their entire client base without asking. Would love to discuss more!
I don't think the above 2 responses have anything to do with what Transamerica was talking about.
Exactly, AXA.
Most everyone in financial industry works bc its in their financial interest to do so. I'm an EA and own a tax practice... you want referrals, let them know what's in it for them... outside of that brokers are a dime a dozen
That's the whole partnership concept, Invest. What's in it for them is more HNW clients being sent their way. It's not asking for a hand-out.
Not trying to play devils advocate, but advisors who don't have an OBA of tax are going to send them somewhere. Better for the CPA to receive referrals from lots of advisors than from just 1 advisor. Most CPA's will give 3 names, bc they received referrals from those reps and or to have no risk if you turn out crooked or screw their client
They don't want to be lumped in with you when the next correction hits and the clients angry or when advisor put them in 7 yr annuity and clients upset bc they can't get to the money
I'm all ears on this one.
I'd like to know more about coaching CPAs...Cameron we're listening
For those interested... cameron@skyboxfinancial.com