how to grow your firm outside of wealth management.
by russ alan prince
a pervasive problem many accounting firms face with wealth management practices is how little wealth management business they generate. having an arrangement with a wealth manager or establishing their wealth management practices does not tend to result in very much business.
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indeed, some accountants will send clients over to the wealth management practice because the client asks them to. however, relying on clients to initiate the referral is something other than a solid business development strategy. instead, the wealth manager must show accountants how to identify opportunities and make the proper connections.
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