- Call professionals you would like to have a referral arrangement with and ask to set up a short appointment.
- When you receive a referral from a client, ask the client to introduce you to the person.
- The story a client tells about an advisor is the make-or-break facet of an introduction. Coach the client to make sure the story he tells is compelling.
- Recap how you have helped a client’s situation since he started working with you to prime them to tell a good story.
- To get quality referrals, define for your client exactly what a quality referral is for you.
- Ask a direct, referral-seeking question to your client instead of making a half-hearted request or suggestion.
- Prepare your client during the sales process to give referrals by informing him up front that you are a referral-based advisor and expect referrals as long as you do a good job.
- Educate your client on why it is in his best interest to provide referrals.
- A lack of training in generating quality referrals is the main reason most advisors fail to obtain quality referrals.
- Believe you deserve referrals by coming up with reasons why.
Laurence G. Allen ran a shell game scheme, moving money out of investor accounts, according to AG Letitia James.
The rep failed to provide documents and info FINRA requested during an investigation.
Alert your clients to be leery of anything that doesn't sound right, especially if they're in the giving mood.
Sponsored by Orion Advisor Technology
Financial planning services help advisors differentiate themselves, improve client relationships, drive better outcomes, and more. So why don’t more advisors offer financial planning?
Sponsored by Smarsh
Learn how you can use text messaging to communicate while minimizing your firm’s compliance, legal, and reputational risk.
Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!
- Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
- Exclusive discounts on ALM and ThinkAdvisor events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.