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Overcoming Head Trash and Building Lucrative CPA Relationships · The Perfect RIA

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  Amber: Hello TPR Nation this is Amber Kuhn, thank you for
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  joining me on today's Follow up Friday where I'll be recapping
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  this week's episode highlights and action items. On Monday Matt
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  was joined by the head CPA and founder of Retirement Tax
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  Services, Steven Jarvis to talk about actually getting referrals
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  from CPAs. Now we've been talking a lot lately about
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  prospecting and one of those strategies is having referrals.
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  Steven said when it comes to being asked for referrals, he
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  loves it because it's a great way for advisors to build really
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  effective relationships that really helped our clients win.
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  He said fot CPAs doing those referrals goes beyond that
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  question of what kind of client does the advisor service but
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  more of whether the advisor is delivering value and knowing
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  what to expect if they do send a referral. Matt said no matter
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  who the referral is coming from whoever is giving that referral
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  is taking a huge risk. It could end positively or it could ruin
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  that relationship. From a tax preparers point of view, Steven
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  said that these key tax services as essential but financial
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  planning, they question whether it's a mandatory thing so
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  advisors first need to convince a tax preparer that what they're
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  doing is a word and then that you're the right person to do
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  it. So there's that's a big hurdle that you have to
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  overcome. Matt pointed out that when you're sending someone a
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  referral, you're doing it to benefit yourself because you
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  want that situation to make you look good in the eyes of the
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  client, even if you're not consciously thinking about it.
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  So you have to keep in mind the other person's mindset. Matt and
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  Steven said one of their favorite things is to be able to
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  say You've got a problem, I know someone who can help and then be
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  able to make that introduction because they know that person
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  will go above and beyond. So how do you build this kind of
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  relationship over time? Matt showed his strategy that's
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  worked for him, and we're about a third of his practice has been
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  built on. He said the crux of the strategy is that he also
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  needs to refer clients out and he wants to be in the position
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  where he says that he knows someone to refer them to you. So
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  instead of waiting for CPAs to reach out to him, which is that
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  never happenes, he reaches out to see allies, and in this
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  instance CPAs in an area who seemed to fit his niche. He
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  reaches out to them and says that he always has clients
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  asking for an introduction to the CPA. And while he can't
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  promise that any are the right fit, he'd like to pay for an
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  hour of their time to get a feel for what they do feel for their
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  ideal client. And that if he runs across anyone in his
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  practice, who fits that then he will be excited to send them
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  their way, who then asked for their hourly rate and how to get
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  on their calendar. Matt said by offering to pay for their time
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  and showing up with a check, he's starting right away by
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  delivering value. And doing this puts you head and shoulders
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  above anyone else who's ever called that person, including
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  their own clients. But when it comes to the strategy of
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  reaching out for an hour oof someone's time, Steven said you
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  need to get specific and consider how do you find the
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  right people? What do you say? What do you send them? Matt
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  pointed out that this is a two year strategy and you need a 12
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  month calendar of activities that you're going to do to
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  cultivate those relationships. So these are things that need to
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  be put on your calendar, incorporate your team and make
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  sure that you have a system for this. Matt said if you want to
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  treat these CPAs that you're reaching out to like a level top
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  clients. So you're sending them your newsletter, you're inviting
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  them to events, again, approach it in terms of what's in it for
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  them. Lastly, Matt and Steven pointed out that what you do
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  with this and paying for CPAs time can be a huge value add to
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  your existing clients, even if you never get a referral,
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  because there's always things that you can learn and
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  continually improve on to better help your clients. Let's get on
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  the action items. Get signed up for the Retirement Tech Services
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  Tax Summit. And if you'd like to have even more training join The
• 4:11
  Perfect RIA LIVE the day before the summit visit
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  retirementtaxservices.com/summit and you can purchase your seat
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  for both events. You can learn more about Steven by visiting
• 4:22
  him on LinkedIn which we have linked in the show notes. And be
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  sure to visit the Retirement Tax Services podcast. Figure out on
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  your calendar when and how you're going to cultivate your
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  centers of influence relationships. And when you hear
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  from others who are telling you strategies that they think are
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  going to work in practice ask them how it works the last time
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  they did it. This is a great test for whether it's something
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  that you should pursue.
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  Moving on to this weeks Worlds to Conquer encore episode, Jamie
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  dug into the issue of head trash, and newsflash, we all
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  have doubts and insecurities. She said once you recognize your
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  worst fear about trying to implement something new, your
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  first instinct is that it's not going to work and that you're
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  going to lose all of your clients and your income. Once
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  you've articulated those fears, then that inspirational side can
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  kick in and you can then start walking yourself off that ledge.
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  Jamie said you can probably recognize when other people have
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  had trash but what happens when it's your head trash? Who do you
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  turn to? Jamie said that whatever you call your spiritual
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  connection, for some that connection is enough. For others
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  who need or want to community there's nothing wrong with this
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  this is where you can bounce ideas off of and address your
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  concerns and insecurities. One of the ways that we do this the
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  perfect right is through masterminds. Now masterminds are
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  formed with like minded professionals in your community
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  or your career space and you meet in person. You're around
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  people who have the same concerns that you do. You have
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  an opportunity to share and it's where you can impact your goals
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  and your ambitions. So when joining masterminds or peer
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  groups you need to find people who will challenge you.
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  Masterminds are also important because you can deal with
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  problem solvers with those solution oriented people. Now
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  Jamie also added that it's important for your team to have
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  this as well, for her team, whether they're attending a
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  mastermind or conference, she gives them team members a
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  mission. They have to come away with one implementable idea that
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  they can immediately take action on. And that's it doesn't have
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  to be something radical. It could be something related to
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  just going back to the basics. Jamie's pro tip is that every
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  time you attend a conference, take a buffer day so that you
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  have space to review and implement the things you want to
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  do. That way when you get home, you're completely present. Jamie
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  said some of the things that you can do on a day to day basis in
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  order to deal with your head trash. The first thing was
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  looking at creating a morning success ritual start with how
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  you're waking up in the morning. Consider from there going
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  outside for five to 10 minutes or taking a walk and during that
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  time you can focus on gratitude. After morning logistics, look at
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  the things that you need to do that day. Now when Jamie talked
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  about this. Notice that she didn't say that she's going
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  through her emails to figure this out. Her email doesn't
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  become her to do list. So you need to look at how you can
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  adjust your schedule to block that time to check your emails
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  since you're not living in there. So look at what is your
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  morning success ritual that puts you in the headspace, the
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  spiritual space and the physical space to really go and conquer
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  and what are the things that you're going to do every day
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  that sets you up for success. This episode was jam packed with
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  action and so let's recap what you can do to help with that
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  head trash. Join a mastermind find someone that you can be
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  vulnerable with and a group that's going to be actionable
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  and push you into an uncomfortable place. If you have
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  negative energy, change what you're eating, consuming and
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  doing on a day to day basis. Look at who you're surrounding
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  yourself with and make sure that you're setting yourself up for
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  success by only allowing people in your environment that are
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  going to propel you towards greatness. Remember boundaries
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  are important because they keep you in your greatness. If you're
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  leading a financial advisory office and you aren't
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  implementing the strategies that Jamie shared for your team,
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  you're doing them a disservice and you'll only get them at
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  their mediocre level. Evaluate your morning success ritual and
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  consider what you're doing every single day to put yourself in
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  the best mindframe to conquer and achieve all of your goals.
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  And stop being reactionary. Start being proactive. Take
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  control of your day. Get out of your email, write down your goal
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  and do big things. Before we go to TPR Nation, if you're looking
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  for an opportunity to learn in person from Matt and Micah, be
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  sure to join us this September at TPR Live in Arizona. Visit
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  theperfectria.com/live for more information and to save your
• 8:33
  spot. And if you're looking for our newest masterclass on
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  prospecting, visit theperfectria.com/prospect.
• 8:39
  Thank you for joining me today and be sure to give us five
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  stars wherever you're listening and share this or any of our
• 8:45
  episodes with another advisor or team member who you think might
• 8:48
  benefit. Until next time. Happy planning!