It’s no secret that client referrals are essential to an advisor’s growth. The hard part is implementing an effective strategy. Indeed, only one in five financial advisors say that seeking a referral is a “regular routine and a key reason for my success,” according to a recent SEI survey. Moreover, nearly half say they’ve asked just a “small percentage” of their clients for a referral.
John Anderson, head of Practice Management Solutions for the SEI Advisor Network, says he was only partly surprised by the survey’s findings. “Asking a client to refer you to someone can be uncomfortable and if you often hear ‘I don’t have anyone in mind right now’ or ‘I’ll let you know’ it’s easy to get discouraged.” Too often, advisors rely on passive, or unsolicited, referrals from clients.”
If that sounds like you, take a gander at this interactive slideshow detailing 8 effective ways for you to boost your referral-acquiring skills.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access