Partner with Us
We provide the opportunity for your accounting practice to offer a complete wealth management solution through a strategic alliance with IMFG.
More than ever, your clients are demanding to get all their financial services in one place. While most accounting firms have broad, stable clients for their accounting and tax practices, many have little success in converting those clients to wealth management. That’s where IMFG can help.
Our team of experienced financial advisors and insurance specialists are here to support your clients and your business. This includes:
- Wealth Creation
- Financial Advice
- Income Protection
- Business succession and Key Man Insurance
- Asset and Cashflow Protection
- Self Managed Superannuation
- Legacy Planning
What our current accounting practice partners say
A Partnership with Revenue and Profit Potential
Our partnership program offers a fee-sharing arrangement, allowing your accounting practice to establish a new income stream. For example, if your practice had annual accounting revenue of $1,500,000, we estimate that your affluent clients have approximately $150,000,000 in investable assets. Our initial goal would be to convert 25 per cent of your affluent clients to our wealth management process in the first 24 months of our alliance. This would result in approximately $37,500,000 in assets under management and $500,000 in force insurance premiums.
Assuming our average annual wealth management and insurance fee, the yearly fees for these assets would be approximately $375,000. Therefore, your firm’s 25 per cent revenue share would amount to approximately $118,750 each year after the strategic alliance achieves its initial targets. Of course, to the extent that we convert additional clients to our wealth management process, the firm’s revenue share would grow.
What are the other benefits to your practice?
By establishing a broader offering to include wealth management, you can build stronger customer loyalty and drive further growth in your accountancy practice. Some of the benefits our current partners have achieved include:
- Increase in client retention rates. Clients who get additional satisfactory services are more likely to stay with you over the long term. Also, these additional services mean that you and your clients will be communicating more frequently, further cementing your relationships.
- Increased client referrals. Your enhanced client relationships will likely lead to more introductions from satisfied clients. And since affluent families tend to know other affluent families, these will be qualified referrals—ones appropriate for your firm.
- Differentiate from your competition. By offering wealth management services, you will make your firm stand apart from your competition, which primarily offers commoditised services and products.
- Increased firm valuation. As your revenues increase as a result of the wealth management offering, the firm will become more profitable and thus increase its valuation.
- Increased ability to attract new partners and staff. As your firm’s revenues, profitability, and valuation increase, it will become easier to recruit new, young partners and staff into the firm.
If you’d like to discuss this opportunity, please contact Angus Dockrill at email@example.com