Keeping your clients close

In the world of private wealth accounting, personal and professional reputation is everything. Confidential recommendation will be the predominant way you acquire new clients.

Start with existing clientele
Most PWA Association members are accountants with an existing client base. You will identify which of your clients have the potential to benefit from PWA- style services then migrate into the world of high net worth accounting, by introducing the methods and services to those clients.

The association will provide up-to-date support and tools to help you give superb service.

In time your success and the results you obtain for your clients will lead to new clients joining you. These new clients will expect to go straight  into your PWA section, whereas you may continue offering more normal accountancy services to the clients you started with.

The Family Office
It is very usual for someone working with the finances of a wealthy individual to begin working with other members of their family, which is why  PWA practices are sometimes referred to as "Family Offices".

This is because a high net worth individual naturally wants to protect their wealth, investments and businesses in order to keep them within the  family. In addition, inheritance planning is a common tool for tax efficiency, not just a suitable precaution against untimely death.

All this means that it makes sense to consider the finances of a family as a whole, not just one individual, to make sure that wealth is managed in the most efficient and prosperous manner. This will sometimes extend to business partners, bringing them to your fold too.

This all in turn cements your relationship with your original clients and widens the opportunities for you, keeping your original clients closer and  widening your earning capacity.
 

Gain strength from the PWA Association
The association's members support each other, sharing best practice and making all members more effective and profitable. Hints and tips for  keeping customer satisfaction high and successful methods of gaining new clients are no exception.

Put this all together and it makes for satisfied and impressed clients, who will recommend you around their exclusive circles.