Work with Other Financial Professionals
Financial professionals are generally familiar with one another’s jargon, and working directly with them eliminates the translation often required when the client is the intermediary. --R. Douglas Pauley
Many independent planners are just that—independent and unused to collaborating across disciplines. Indeed, few planners maintain strong relationships with estate attorneys, CPAs or other professionals, experts say. These untapped connections represent a huge opportunity: Forging ties across disciplines can improve your client service and give your practice an edge over the competition...
R. Douglas Pauley, a fee-only planner near Austin, Texas, recognizes the value of an expert team. Financial professionals are generally familiar with one another’s jargon, and working directly with them eliminates the translation often required when the client is the intermediary, he says. Also, having a trusted team in place can help Pauley focus on his investment advice and planning services. Pauley has referred clients to Accountable Aging, a geriatric care manager in his region, for help understanding Medicare Part D. One of the company’s founders, Mary Koffend, had a long career in the Social Security Administration and understands the complexities of government benefits. “I don’t have to spend time doing research myself when it’s outside the scope of what I’m good at, and whatever comes out of Mary’s mouth is gospel,” Pauley says.
-R. Douglas Pauley, a fee-only planner near Austin, Texas, in Your Network of Experts
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