Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Annuities

What would make you likely to provide referrals to your advisor when asked?

Your article was successfully shared with the contacts you provided.

If he or she had done a good job with my finances, and was able to impress me, then I’d probably be willing to make referrals. But I have to have a relationship established with the advisor first; I want to make sure they know what they’re doing.”

- Rebecca L., 60
Dover, Del.

I went to an advisor a few years ago, and before the ?free consultation’ was even finished he asked me to give him the names of five friends he could call and drop my name to. Even though he explained that referrals were a big part of his business, I kind of felt like he was jumping the gun a little. He wasn’t even done handling my stuff before he was thinking about new business and more money, and I find that crass. I never went back to him.”

- John B., 55
Reno, Nev.

I’m happy to help a good advisor grow their business if I can, but only if they’ve proven themselves to me. I’m not about to let someone call my friends or family if I’m not 100 percent happy with the situation. I also don’t like the idea of the advisor cold calling people I know and using my name as an introduction. It makes me uncomfortable, since I think it’s a bit presumptuous. People can be very sensitive about their finances, so I’d have to know for certain that they could benefit from working with my advisor.”

- Margaret M., 56
Edina, Minn.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.