{"id":105542,"date":"2022-12-08t11:57:36","date_gmt":"2022-12-08t16:57:36","guid":{"rendered":"\/\/www.g005e.com\/?p=105542"},"modified":"2024-08-07t23:10:08","modified_gmt":"2024-08-08t03:10:08","slug":"adhere-to-4-core-principles-with-elite-wealth-management","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/12\/08\/adhere-to-4-core-principles-with-elite-wealth-management\/","title":{"rendered":"four core principles for elite wealth management"},"content":{"rendered":"
keep these promises to your clients no matter what.<\/strong><\/p>\n by russ alan prince there are four unquestionable core tenets of an accounting firm’s elite wealth management practice.<\/p>\n more: <\/b>why you need a team of experts<\/a> | why a virtual family office? why now?<\/a> | is your client\u2019s umbrella big enough?<\/a> | your client\u2019s instincts are wrong<\/a> | preserving wealth is a different mindset<\/a> | three approaches to investment consulting<\/a> it’s not debatable. and it’s not negotiable.<\/p>\n think of the four rules as a professional oath for those who strive to have successful elite wealth management practices.<\/span><\/p>\n <\/p>\n core principle #1: the primary goal of an elite wealth management practice is to help optimize the financial lives of clients<\/strong><\/p>\n the goal of your elite wealth management practice is not<\/strong> to generate more revenues for your accounting firm. that does not mean your accounting firm\u2019s elite wealth management practice will not prove exceedingly profitable, because it will. more importantly, optimizing clients’ financial lives is the primary objective with elite wealth management. the significant profits that your accounting firm will accrue are a byproduct of delivering exceptional value to clients. the revenues your elite wealth management practice will produce take three forms:<\/p>\n core principle #2: elite wealth management is all about delivering exceptional value<\/strong> while most wealth managers talk about delivering value, in reality, they are often more absorbed in selling financial strategies and products. from where we stand, there is a monumental difference between selling financial strategies and products and delivering value. many wealth managers and other professionals do not recognize the difference.<\/p>\n according to homer smith, managing founder of konvergent wealth partners and co-author of optimizing the financial lives of clients: harness the power of an accounting firm\u2019s elite wealth management practice<\/a>, \u201cnot selling will prove to be one of the most consistently powerful advantages of any accounting firm’s elite wealth management practice. the ability to understand the complexities of clients’ worlds and use financial strategies and products to help them optimize their financial lives enables an accounting firm’s elite wealth management practice to add value in ways that make an enormous difference.\u201d<\/p>\n core principle #3: the accountant is always central when working with clients<\/strong><\/p>\n the success of your accounting firm is a function of the value your accountants provide clients and the quality of the relationships your accountants have with those clients. because accountants have a central place in their client’s financial lives, it makes perfect sense to maintain \u2013 if not expand \u2013 these trusted relationships.<\/p>\n \u201calways, the client is the accountant’s client,\u201d smith said. \u201cthe accountant best understands the client and has built a solid relationship based on delivering value. one of the aims of elite wealth management is to enhance these relationships further, often leading to more business and referrals to new high-quality clients. this is only possible as long as the accountants stay involved.\u201d<\/p>\n to be clear, when the accountant is involved throughout, there is a much, much higher probability of:<\/p>\n \u2022 clients optimizing their financial lives;<\/p>\n
\nyour $5 million high-net-worth practice<\/a><\/em><\/p>\n
\nexclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n
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\n\u2022 clients being satisfied with the process and outcomes;
\n\u2022 business getting done, including producing additional accounting firm revenues; and
\n\u2022 new high-quality clients being referred.<\/p>\n