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Do clients
have to be local?
How do begin working
with a firm?
How does my Firm gain
additional clients by adding The Professional Advisor Network?
How is my client
relationship protected?
What types and services are
available?
How is compensation
structured?
Do
clients have to be local?
Absolutely
not! Fortunately technology has removed all geographical
necessities. In most cases our advanced tools allow us to meet with
anyone in any area at anytime. As an Affiliate you will have access
to much of our support tools.
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How do begin working
with a firm?
Following our exchange of information and suitability
discussions we put all agreements into place. Supply
necessary instruction or training to get started and
focus on the initial few situations for experience with
your firm. Once you see the process completed
successfully we then mutually set new larger objectives.
It is important not to try to race but build on good
experience and progressively build momentum. We like you
don’t like disappointment based on optimistic forecasts.
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How does my Firm gain
additional clients by adding The Professional Advisor Network?
This is a
difficult one to answer directly and will depend on what your
current marketing program is. The simple and obvious areas for
potential clients will come as a result “word of mouth referrals of
stimulated satisfied clients”. How will you track them and how can
you accelerate the flow is worth noting .If you use our recommended
process new clients will be engaged.
How will you modify your company web site to include the new
services? We have you design the marketing support plan from our
outline. We don’t offer to be your full blown marketing department
via an affiliate arrangement. However we can establish and run this
type program for you on a monthly fee basis.
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How is my client relationship protected?
How are
they protected now? We never take a joint client to another advisor
unless they have been dismissed by the client in writing. The
objectives that the Network is to assist other professionals in
helping their clients solve problems while simultaneously adding
value to the relationship. It
is also a stated objective of The professional Advisor Network and
its affiliates to help you look better in the eyes of your client
while doing so. This is accomplished partially because you were the
catalyst in helping them find the appropriate solutions. All
services surveys I have ever seen clearly show a rise in consumer
satisfaction with the professional that initiates problem solving
and it is interoperated by clients that a sense of caring about them
is higher than just transactions. The following might serve as an
example: Let’s say you are a CPA or Enrolled Agent and have been
doing the personal and business filings and tax work for a small
business client for 8 years. You recognize the company continues to
grow and increase profits but are not sure what else you can help
him with. You invite one of our Planning Specialists in to view the
situation. Their analysis outlines advanced tactics to allow
significant immediate income tax savings and increased retirement
benefits to the business owner with no out of pocket cash.
Do you think the client sees
you being worth more or less to them?
Turn this
around just a bit and ask this question. What if I did nothing and
someone else brings the specialist in that delivers the described
results (perhaps their attorney, causality agent or many other
possibilities)? Then how would the client view you?
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What types and
services are available?
Each niche
has products or services they make available. For example Financial
Planners may offer fee for service planning at a minimal basic level
and can increase depending on the scope and nature of a project from
$3,000 to $50,000. A client with the planning completed who is
considering a Legacy Building project could again have a range from
a few thousand to $30,000. Attorney’s and CPA firms charge their
current hourly rates. In-depth family transition and planning over a
few years is also available with fees only.
Other more traditional products will be offered from a wide range of
companies in the fields of insurance and investment. Where these
products are recommended our associates and specialists will use
only top rated companies of financial reputation and strength. Each
has their own specific price structure that we may access to fulfill
the client need. We can access virtually any company’s products via
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How is
compensation structured?
This is somewhat
dependant on the product or service delivered. Some
revenue can be shared easily and other is strictly
governed by State and Federal licensing laws. Generally
speaking commissions for products requiring licensing
are shared within a range according to what work
required and who is responsible for performing the
assignments or duties. Normally there is a range from
25% TO 50%. Understand that no commission can be paid
without the recipient being duly licensed. This
works well with insurance, investments and real estate.
Management and other consultants can also direct a
portion of their fee structure to a referring affiliate.
Other affiliates will decline fee or commission
participation being satisfied that their clients are
receiving the very best advice from the other
professional and want only the revenue they generate
from the client directly. They feel declining such
compensation keeps them free from any potential
professional liability issue and potential conflict of
interest in the eyes of their client.
A best practices
model using a financial services/planner and an
Accounting firm could represent several $100,000 of
annual revenue to a firm while
basically
outsourcing the work and minimizing startup cost,
staffing and overhead. This model also works well with
Law Firms and Property Casualty Firms.
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