Paul Saganey As I have built my practice through strategic and professional partnerships, I am often asked: How do I effectively work with CPAs?
Advisers understand the benefits of having a revenue-sharing relationship with top accounting firms. Conversely, more and more CPAs have been getting licensed as advisers, so that in addition to working as accountants they can act as financial planners and avoid sharing/losing out on additional revenue.
Though the trend of CPAs seeking financial advisory licenses does exist, many successful CPAs believe teaming up with top financial advisers is their best way to bring optimum services to their clients. Some CPAs have learned the hard way and some realized early on it is more advantageous for them to have a revenue-sharing relationship with a financial adviser than to risk reaching a complexity ceiling alone. Many CPAs come to this realization on their own, or by learning about the services their clients are missing out on by not working with an adviser.
That said, when seeking a revenue-sharing partnership, it is imperative that you be in a position to explain to a CPA the benefits of entering into a partnership rather than going it alone. These relationships are not about educating each other; they are about working together to build a successful full-service offering. The best partnerships are formed when each side recognizes their own (and each other's) strengths and weaknesses. As advisers, you need to recog
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