May 31, 2012

FiPath Launches Automated Referral Platform for Advisors

Automated e-mails designed to generate customer referrals

Advisors who hate looking for new clients now have a new automated way to bring about client referrals, via a system introduced recently by FiPath for Advisors.

ReferMyAdvisor, an automated client acquisition product, uses an automated e-mail marketing platform to generate client referrals without the need for advisors to ask current clients for them or to have to make cold calls. The system generates e-mails prepopulated with information from an advisor’s client list, and the advisor can then choose to edit and tailor those e-mails to specific clients or simply opt to have them sent.

Clients who are satisfied with their advisor can fill out a referral form to family members, friends or business associates, and the system then automatically generates a personal e-mail to the prospective client that introduces the advisor and invites the referral to make an appointment with the advisor. The advisor is also notified about the request, and provided with the referral’s contact information.

“Finances are as personal as medical care,” Peter Velardi, president and chief operating officer of FiPath, said in a statement about the system. “Trust is critical. People want complete assurance, not luck of the draw. At the end of the day, most of us want a referral or recommendation from a trusted source before entering into a business relationship, including choosing a financial advisor. ReferMyAdvisor provides people with a simple and effective method.”

The people on the receiving end of those referral e-mails are invited first to take a financial preparedness quiz, then to make an appointment to consult with the advisor. On the advisor side, according to FiPath, there is no need to stress over how to seek out new potential clients or worry about rejection.

Velardi added, “This unique product, created by financial professionals for financial advisors, was designed to make client acquisition easy and affordable. Acquiring just one new client per year through ReferMyAdvisor will give financial advisors a 400% return on their investment!”

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