The reality is that most financial advisors don't like to have to ask for referrals. It's the same reaction most of us have to cold calls – if we don't have to, we won't. Here are three alternative referral-boosting strategies that don't require you to be an expert at asking for referrals.
1.) It's about the relationship. Top industry advisors receive 100 or more referrals each year without ever directly soliciting them. They say it's because of the relationship they have with their clients. The clients simply want to introduce their friends, family and colleagues to the advisor.
Ask yourself: Do my clients know I care? How do I show or tell them? Do my clients like me? The truth is that if they like you, they will refer more business to you.
2.) Is your staff repelling referrals? If you believe you are a great financial advisor, ask yourself: "Does my staff think I'm a great financial advisor?" If not, they may have to go. It might sound harsh, but a staff person that is not passionate about what you do may actually be hindering your referrals. When they are passionate, many referrals will be generated by your staff directly. If your staff doesn't think you're all that great, why would your clients?
