LORAL'S BIG TABLE _7 – 2ND MEETING

LORAL’S BIG TABLE #7 – 2ND MEETING

WEALTH TEAM INTERVIEW QUESTIONS





TAX STRATEGIST:

 Client References

 Income

 Entity structures (net worth)

 Types of business supported

 Most difficult case

 Client audit (IRS)

 How supported

 What was you worst “Failure”

 What did you learn

 How long in business

 Geographic coverage

 E & O Insurance

 Accessibility / Response time

 Who handles my case

 Comfort with aggressive strategy

 Example of most aggressive client

 Personally owned Assets

 Update plan for tax law





BOOKKEEPER

 How long have you been doing this

 Background

 Expertise

 Education / Finance

 Software type

 What do you need from me

 Who are your clients

 Average $ income

 Type of business

 How many

 When are you available

 What are your fees

 What is your relationship with the IRS – tax law

 Which IRS forms will you fill out

 What do you do from 1/15 - 5/1 in relation with CPA’s not being available

 Can / Will you work with my CPA or do you work closely with one already

 What is your OWN financial picture / investments

 Do you have a tax strategy to offer

 Will you identify and offer solutions to issues you see in my STUFF

 Do you come to my place of business

CPA

 How much experience in Real Estate do you have

 Do you invest / How much / Strategy

 How many clients invest in Real Estate

 Fee structure

 Aggressive |--------------------------------------| Non Aggressive

 Have you defended an audit

 Example of tax strategies (aggressive)

 What is your net worth

 What is your experience with entity structure

 What is your job

 Meet with my wealth team

 Tax planning

 What is your strength

 Do you work with QuickBooks

 Are we working with You

 Are you familiar with tax laws

 List TX, TN, NV

 How do you maximize deductions





OPERATIONS MANAGER

 Why do you want this job

 Detail oriented

 Experience

 How many Employees

 Creative thinker

 Flexible

 How much interaction with owners

 Reports

 Example of resolved conflict

 Incentive plans

 Designing systems

 Example of employee problems resolved

 Best working hours

 Time in your life you are proud of

 Like to do the LEAST

 Vision for the company

 Values

 What motivates you

 How do you evaluate employees

 Main strength

 Weaknesses

 How would you handle conflict, etc.

 Favorite quote / cartoon character / movie

LAWYER

 Education (specialty)

 Experience (clients vs. personal)

 Entity structure

 Real Estate (residential vs. commercial)

 Professional designations

 Type of entities (list examples)

 Client profiles

 Have any of your contracts been litigated

 What does support team look like

 Turn around times (calls / contracts / etc.)

 % of clients (public or private)

 References

 List of standard questions you ask client prior to writing agreements

 Fees (retainer vs. hourly)





PROPERTY MANAGER

 How many years experience / references

 What type of training / certification

 What other jobs in the industry

 Tell me about the properties you manage now

 Cash flow / no cash flow

 Number of units

 Room in schedule

 Vacancy rate / tenant screen last 5 years

 Maintenance costs

 Emergency call cost

 Maintenance team – tell about

 Cost to turn unit – rent ready

 Will you be a field partner

 Fee schedule

 % of gross income

 Eviction procedure

 Collection procedure / success / theft

 Term of contract

 Copy – Lease contract

 Date of reporting / month

 Insurance / liability

 Market ability