What Can Go Wrong Removing the Middleman

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If many Americans can file their returns on a postcard, they aren’t going to pay an accountant to do it for them, essentially eliminating the middleman.

Your clients want to save money, who doesn’t? Often, the way one profession justifies its expense is to suggest how you can save money someplace else. Saving money often means buying direct, cutting out the middleman.

Put another way, they want the client to spend money to do business with them, while saving money in other areas, yet the middleman often adds value. What now?

Several activities can’t be done directly by the consumer. Patients can’t bypass doctors and do their own surgery. No one cuts their own hair. Let’s look at other professions:

1. Insurance agents. Everyone needs health insurance. You can buy many types of insurance online. Insurance is a complicated product. It’s difficult to compare side by side.

How they coped:  They need to understand your situation, then they will offer alternatives. A low cost policy may not give you the protection you need, but you won’t know until it’s too late.

How accountants relate: You can pay what they are asking for (the postcard return) or you can pay what you owe, which might be less. Taxes are complicated. Most people’s situations are unique.

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About Bryce Sanders

Bryce Sanders

Bryce Sanders is president of Perceptive Business Solutions Inc. in New Hope, Pennsylvania. He provides high-net-worth client acquisition training for the financial services industry. His book, Captivating the Wealthy Investor, can be found on Amazon.com.

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