Bonus Section: Financial Advisor Referrals from the 1st Two Pages of a Tax Return (PT1)

This lesson is going to address some very simple cross sell introductions that can be found on the first 2 pages of a tax return. So if you are an Accountant or any professional who requires a clients tax returns to do their job. This module will show some great ways to generate value and outgoing referrals to your Financial Advisor partners.

There are very simple cross sells that can be done with little effort when you have a clients 1040’s and especially during tax time if you are an Accountant. We all know that Accountants are so busy processing so many returns that they can hardly think of making introductions. These cross sells can be accomplished by simple emails to the client suggesting they speak with a Financial Advisor. It’s really that easy.

This training is also excellent for a Mortgage Originator, or any professional who works with a client and needs to obtain tax returns.

Now let me address something upfront, this tutorial does show many opportunities to give referrals, however this doesn’t mean that you should jump on every client with every opportunity. These are just some examples that may present themselves, and give you a chance to add value to your clients, appropriate referral. Because we know following the Core7 Referral system, and making an introduction to a good Financial Advisor can be so beneficial to your client’s overall financial plan.

Okay let’s move through the return from top to bottom.

One of the first things to look for on the first two pages of a tax return is under exemptions. Look at the number of dependents a person has. For example, if a client has children under 17 it can lead to many different discussions. The opportunities to look for are number 1, if the children are to the younger side, say less than two years old, being sure there is proper life insurance in place is critical. And if they are a little older then a college savings fund or student loan conversation could be appropriate at this point.

The best way to ask this question is” have you done any planning around kids regarding college planning? If the answer is No you should then ask, how is your relationship with your financial advisor who specializes in college planning?

Having dependents can trigger another great question. “Have you done any planning to protect you in the case of premature death or disability?
Another great opportunity is to ask the question “Have you done the proper estate planning to protect your assets and avoid having to go through probate?” (as we know going through probate can be a huge burden on a person’s heirs). This can create the opportunity to ask how is your relationship with your financial advisor? As they are the first step in the planning process.

Another important aspect that may be important to the client regarding the ages of one’s dependents is if they are at the age where they may be graduating from daycare or pre-school. Many times this can free up a lot of monthly cash flow to invest, pay down debt, or use in any way to create a better financial situation. It definitely makes sense to have a conversation regarding this opportunity.

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