CPAs, financial advisors, attorneys: Build a professional network

When it comes to providing professional services to your clients, who you know can be just as important as what you know. Being able to refer your client to an attorney who can help answer a legal question, an accountant who can address a tax problem, or to a financial advisor who can provide knowledgeable guidance can help ensure that your client is getting the best service available. It can be hard work to build a professional network, but hard work will often pay off in the end.

Take time to get to know other professionals

You don’t want to offer a referral to another professional based on a quick Google search. Attend networking events so you can get a feel for the other person face-to-face. Perform your due diligence to ensure that a possible referral will be the right fit for your needs and the needs of your clients.

Remember that a referral will also reflect back on you. Your clients will not be happy if you refer them to someone who cannot help them address their needs.

Help find the match that’s right for your individual clients

Your clients have their own unique idiosyncrasies. If you only have one CPA, financial advisor or lawyer in your professional network, it’s unlikely that all of your clients will come away happy. You should make your professional network as robust as possible. This will allow you to provide your clients with a range of choices and will enable you to make recommendations that will best suit each of your clients.

Be mindful of your field’s rules, laws and regulations

Every profession has ethical rules and guidelines for referral relationships. Take the time to understand the rules and regulations which govern referrals in your profession. If things are unclear or if you have questions, seek advice from a skilled legal professional.

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