Financial advisor asking for referrals

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financial advisor asking for referrals

Stop Asking for Referrals: A Revolutionary New Strategy for Building a Financial Service Business That Sells Itself by Stephen Wershing

The #1 way to start getting referrals? STOP ASKING In all his years of helping financial professionals build and grow their businesses, Stephen Wershing has learned that the number one way to make sure you dont get a referral is by asking for it. Why? Because studies prove that clients refer you not to benefit you but to benefit themselves. So you have to approach the challenge from a completely new angle.

Stop Asking for Referrals helps you do exactly that.

Inside, Wershing provides the tools you need to get more referrals than ever by designing your practice in a way that gets clients to mention you to friends when the opportunity arises. He calls it the new referral conversation, and it works.


Define your target market with accuracy and precision
Communicate your value clearly and effectively
Create your companys unique brand
Harness the natural, normal social interactions of your clients to serve your marketing efforts
Youll also learn how to use client feedback to benefit your business, create your service package, and bring in new business.

The way you have been told to attract referrals is based on an assumption thats wrong, Wershing writes. And it is undermining your business and your relationships.

You will come away with a deep understanding of why and where referrals actually come from, how to tailor your own practice to get people talking about you, and ways to develop a communication plan to project your reputation.

So stop asking for referrals--and start attracting more new clients than you ever thought possible.

Praise for Stop Asking for Referrals

Steve Wershing helps you unlock the untapped referral potential you have in your business today with an approach that is as comfortable as it is effective. -- JULIE LITTLECHILD, founder and president of Advisor Impact

The most comprehensive, practical, and engaging guide I know of for strengthening existing client connections and cultivating new ones in a way that is experience-based, respectful, and long-lasting. -- OLIVIA MELLAN, psychotherapist, money coach, author of The Client Connection, and columnist for Investment Advisor

Reading this book will revolutionize how you think about growing your business. -- MICHAEL E. KITCES, MSFS, MTAX, CFP, partner, Pinnacle Advisory Group, and blogger, Nerds Eye View

This book will help you overcome . . . discomfort and show you how to engage your clients so that they will proudly help you build your business. Kudos for this powerful, one-stop marketing resource! -- SHERYL GARRETT, CFP, AIF, award-winning author, advisor, and founder of the Garrett Planning Network

Stop Asking for Referrals is on my Top Ten list of books that I believe offer the most meaningful strategies for advisors. . . . Steves ideas for referral marketing are brilliant and just plain common sense. Advisors will embrace his book as the new referral bible. -- SYDNEY LEBLANC, founding editor of Registered Rep magazine; partner of LeBlanc and Company

Embrace Steves advice if youd like to see your practice growth become effortless, boundless, and fun! -- MARIE SWIFT, CEO, Impact Communications, columnist for Financial Planning magazine, and author of Become a Media Magnet
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Million Dollar Script How To Ask For Referrals Without Feeling Awkward - Get More Referrals Ep. 12

Top Referral Tips for Financial Advisors

Most advisors loathe asking for referrals, but with modern technology, they no longer have to ask clients to provide names. These days, broker-dealers, other financial firms and some third parties offer an array of resources to garner referrals using technology. For instance, when it comes to referrals, advisor Dan Cuprill unabashed choice is a system he set up in-house that helps him avoid asking clients directly for referrals. This has allowed him to sleep better at night. Industry veteran Marie Swift, president and chief executive of Impact Communications of Leawood, Kansas, says that marketing automation software, such as Drip and Leadpages, can help advisors not only reach more potential clients but stimulate more referrals. Visual communications are also important, as they generate more social-media activity than just text and links alone. Of course, many advisors still tap clients for referrals, and technology can help them out as well.

Many people told me they were unsure how to ask for referrals from existing clients without looking too pushy. I thought it might be of use to share a few example and best practices regarding prospect generation and referrals. First of all, always remember that before starting to ask for a referral you should make sure you have an established relationship with your client based on trust and mutual appreciation. One way I have seen financial professionals generate new business was by planting the seed of referral at the early stage of the discovery process with their new clients. Mike, I just wanted to point that my business is based on referral and later in our relationship I might ask for your help. Once they have planted the seed, they always make sure to leave it with their client and concentrate on building that strong relationship I was talking about. Mike, you remember that a few months ago I mentioned that my business was based on word of mouth.

Growing a client base and acquiring more ideal clients is a challenge all advisors face, regardless of how successful they currently are. And although almost everyone in the industry has heard that asking for referrals is an important way to grow a business, many advisors struggle with this. Our fears hold us back. And often our fears are quite well-founded. You can also submit your question in advance through our Contact page! He posed this question in return:.

There is real value in building your network and learning to ask for referrals in a direct and efficient way. Referrals are not the only way to grow your business. Referrals boil down to one thing: relationships.
forgiveness is setting a prisoner free

#OfficeHours with @MichaelKitces Video Transcript

You can call it a referral. You can call a dog a cat. But calling a name a referral most certainly do not make it a referral. Take the Referral Challenge Find out if the names you're getting are referrals Note: this is Part I of a two-part series originally appearing in Research Magazine. Just click here. On this webinar, I take a deep dive into the science of referral marketing and how you can get more without ever asking for them.

Asking for referrals is never easy. Here are a few tips for getting one. If you really want to incentivize your current clients to talk to their friends and family about you, you may need to offer them something in return. One way you can do so is to set up a gift program for those clients who do succeed in referring you to one of their contacts. If that referral results in a prospective client meeting, a gift is a nice way to show your appreciation.

I remember as a shy fifth grader asking my friend Mark to tell the pretty girl that I wanted to take her to the grade school dance. Trying to close a deal like that was scary. As I grew up and gained a little confidence, I stopped asking my friends to do the dirty work. It is time for you to stop asking your clients to do the dirty work for you. Referrals are an essential part of growth for almost every financial practice.

4 thoughts on “Stop Asking for Referrals: A Revolutionary New Strategy for Building a Financial Service Business That Sells Itself by Stephen Wershing

  1. Most professionals know that referrals are powerful, but they still struggle with tapping into their networks to generate referrals.

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