Each time you sit with a client for a review, you should be talking about referrals. Of course there’s a right and a wrong way to do this, and you never want to come across as needy, so don’t ask for referrals directly. Flip the conversation around by telling them you’re willing to accept their referrals. This method works because it positions you as a generous professional rather than a needy salesperson. Here’s what you might say: “As you know, I’m very selective about the clients I take on because my first priority is to my existing clients. That being said, I want you to know that we have a special program for people referred by our clients. If you know someone who could benefit from our services, we’ll provide them with a portfolio analysis – kind of like a second opinion from a doctor – at no cost. So if you know a friend, neighbor, business contact, or family member like that, please let me know, and I’ll gladly reserve time in my schedule for them.”
All Financial Planning articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.