As you review your goals for the New Year, it is likely that growing your practice is a priority. That means differentiating yourself from the other financial professionals with similar priorities. It means finding your Purple Cow.

You might consider a strategy not used by many financial professionals: Employee stock Ownership Plans (ESOPs).  Most business owners know little, or nothing, about ESOPs. That is generally true of their financial professionals as well. Not only can ESOPs differentiate you, they may be the door opener you are looking for. 

ESOPs are qualified defined contribution retirement plans. In addition to helping employees save for retirement, they can assist a business owner with succession planning or to create liquidity for investment diversification.  That is why an ESOP conversation starts with the business owner, senior management and/or board of directors.