Use Focus Groups to Solve Referral Challenges

Allison, Dan
January 2010
Journal of Financial Planning;Jan2010 Practice Management, p12
Academic Journal
The article focuses on how financial advisers can meet the challenges of prospecting new clients. It states that focus groups can provide a desirable outcome in creating more referable business. A focus group which is generally composed of eight to ten similarly situated people who gathered together can help meet the challenge and can provide feedback regarding client prospecting. Further, several pointers that a financial adviser can use through focus groups in order to top more quality referrals such as explaining his business model and ideal client, learning from his relationship with a focus group, and increasing his retention and his relationship with the focus group are also elaborated.


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