Change the Way You Ask for Client Referrals

Richards, Dan
March 2011
Journal of Financial Planning;Mar2011, Vol. 24 Issue 3, p36
Academic Journal
The article reports ways on how to come up with an effective referral conversation with clients. According to Financial Planning Association's (FPA) "2011 Marketing Methods: Planner Best Practices" study, 81% of planners request referrals from current clients and 65% of those planners report some level of satisfaction with this method of growing a business. It offers four strategies for making referral conversations more effective including incorporating referral conversations into the body of the client meeting, seeking low-key introductions, and bringing up referrals no more than once every three meetings. It mentions that the entire approach to referrals should be rooted in the clients' reality, not the planners' agenda. It provides ideas on how to add referrals to a meeting agenda.


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