Updated Thursday, July 24, 2014 as of 5:35 PM ET
Blogs - Going Platinum
8 Ways to Get More Referrals
Thursday, January 3, 2013
Partner Insights


Have you ever wondered how some financial advisors manage to get all their business from referrals? Despite what some people may tell you, simply asking for referrals isn’t enough. Here are 8 surefire ways to fill your prospect pipeline in 2013.

1. Surprise and Delight Your Clients

People love telling stories. While your clients probably won’t be in a hurry to talk about the annual review you had with them, they will brag about how you threw them a surprise wedding anniversary party. Is their car dirty when they come in for an appointment? Have it washed. Are they laid up with a broken leg? Send dinner over. New grandchild? Give them a ‘World’s Greatest…’ hat or sweater. Find ways to make your clients gasp with delight, and you’ll make a deep impression they’ll be compelled to talk about.

2. Request Direct Introductions

If your client has a contact you would like to meet, ask for a direct introduction. Doing so can be as easy as saying: “I know you’re friends with So-and-so, and I’d really like to meet her. What are the chances the three of us could grab lunch together? Is that something you could set up?” As a side point, this is one area where social media can be very useful. Don’t be afraid to browse through your clients’ LinkedIn or Facebook contacts to find people you’d like to meet.

3. Host Intimate Social Events

Intimate social events present the perfect opportunity to meet new prospects without spending a lot of time or money. Simply plan an activity you enjoy and invite a few clients along. You could go fishing, golfing, or skeet shooting. You could host a cooking class, a pedicure party, or a wine tasting. All you have to do is plan the event and pick up the phone. Call a top client and say something like: “I’m playing golf at my country club this Friday and I wondered if you’d like to join me? … Great! Why don’t we make it a foursome? You bring a couple friends, and I’ll pick up the tab."

4. Give Away Prizes

When I first came across this idea, I thought it was too gimmicky for a serious financial professional, but I’ve been proven wrong by hundreds of world-class advisors who are doing this with success.  The next time you hold an event, put a blurb on the invitation that says something like: “Every client who brings a new referral to this event will receive a…” I’ve seen advisors give away bottles of wine, bbq grill sets, gift certificates, and a ton of other prizes. Everyone likes free stuff; and at the end of the day, your clients know you are running a business so they’re unlikely to be offended.

5. Forge Professional Alliances

I know this is easier said than done, but I’ve worked with many advisors who are doing this successfully, and they all tell me the same thing: Be patient. Attorneys and CPAs are generally averse to referral agreements for a number of reasons, not to mention your competitors are probably already knocking on their door. So take things slow. Get to know them personally first. Invite them to your office so they can see the quality of your operation. Send them a few referrals. Help them work on a few cases gratis. Gradually, as the relationship warms up, you’ll have a foundation on which to ask for something more formal.

6. Invest In Your Web Presence

Imagine what a catastrophe it would be if one of your clients told a friend about your services, but when that friend searched for you online they couldn’t find you. Or worse, what if they found an outdated website that disappointed them? Or worse yet, what if they found your competition? If you want more referrals, you need to make it easy for people to find you online, and you need to make sure they’ll like what they see when they do. Having an outdated website is a big mistake in today’s competitive financial industry. Spend the money to enhance your online presence and begin using social media.

7. Talk About (Don’t Ask for) Referrals at Every Meeting

(2) Comments
Excellent article. Some points are needed reminders of useful ideas -- such as sending thank you letters. Some are useful new ideas like sponsoring intimate events. I really enjoyed the article.
Posted by David C | Friday, January 04 2013 at 10:29AM ET
good job man i love it cream pemutih wajah
Posted by kim y | Tuesday, May 06 2014 at 9:46AM ET
Post a Comment
You must be registered to post a comment.
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
2014 Summer Reading List for Advisors

Current Issue

The July Issue is now online!


Industry Events

August 10, 2014 |

September 9, 2014 |

September 17, 2014 |

September 20, 2014 |

September 28, 2014 |

Already a subscriber? Log in here