Jack Keeter, president of Jack Keeter and Associates in Anaheim, Calif., says there are two questions advisors need to ask themselves when seeking out other professionals:

  1. Who has a book of my ideal clients?
  2. How can I reach out?

Answers to the first question can be found throughout this story. Answers to the second come in different shapes and sizes. Sometimes it’s a simple phone call to set up an appointment. Keeter speaks at CPA and attorney conferences, presenting sales and marketing ideas. People contact him from those presentations. Other advisors invite lawyers and CPAs to speak at seminars and client-appreciation events, which often leads to quid pro quo at their seminars.

No matter the method of reaching out, advisors should expect to spend a lot of time building the relationship before the other professional opens up his book of business and starts making introductions.

“You can’t just show up, shake hands and ask for the referrals,” says Todd Wooten, president of Wooten Financial Services in Valparaiso, Ind.