A Strategy to Formalize COI Relationships

For advisors seeking productive COI relationships, we always recommend having an arsenal of collateral that establishes your value for both the COI and their potential referrals. But there’s another approach that can further set you apart.

Some IAs also choose to share relevant original content with COIs. When you demonstrate your expertise in this way, you can make an impact on potential clients as the insight and knowledge you offer becomes tangible. Below are some ideas on what to share and with whom.

Just as you would drip on a prospect in order to stay top of mind and build trust over time, offering thought leadership can enable you to drip on COI opportunities. Consider the types of clients these professionals work with, as well as the life events or financial uncertainties they may be experiencing, and offer a relevant piece of commentary that is easy to consume and share.

Estate Attorney: This professional is likely working with multigenerational families who are planning or transferring estates. These families may benefit from a whitepaper on your top strategies for preserving wealth through multiple generations, a financial checklist for preparing an estate for transition, or an article on how to navigate financial questions amid complex family dynamics.

Divorce Attorney: Similarly, this professional works with clients experiencing a very specific life event. You might share insights on how to establish financial independence after divorce, how to maximize your divorce settlement, or how to take inventory of your assets.

Accountant or tax professional: CPAs can represent a variety of client types, but consider those you most wish to target and create content relevant to those groups. This might include tax pitfalls for business owners, generating tax-efficient retirement income, or how to manage multiple sources of income tax-efficiently.

Business succession specialist: You can be confident these COIs are working with business owners specifically, but you can still tailor your content to target those whose life stage and asset level align with your ideal client profile. Consider sharing your ideas on the best financial vehicles for extracting wealth from your business, managing the revenue from the sale of a business, or the financial implications of family business succession.

Depending on the type of communication the professional has with their clients, you might provide a set of printed whitepapers, send links to digital content, or add them to a dedicated email list. This gives them the option to pass along your content to clients who may benefit from it.

And much like the referral relationship, your content marketing can be reciprocal. Offer to profile the professional in your quarterly newsletter, include their advice on specific topics, and share any thought leadership they have that could be relevant to your client base. While many IAs promise referral opportunities, this strategy offers a clear path to new introductions.