I'm really trying to hammer out referals during evey face to face contact with a client or prospect. It's been going decently in terms of quantity but not necessarily quality. I get a lot of "Oh you should talk to Joe, he needs help with his finances." Which turns out to be Joe is in a lot of debt.
How do you get your prospects or clients to think of their wealthier friends when you seek referals as opposed to those who maybe need a financial counselor more than an advisor.
Or, is this normal and I should just embrace it? For what it's worth, my los <1 year.
You have to only ask the clients that you want to replicate. Execs, business owners, older folks. Don’t ask 32 year old asst. manager-types to refer you to friends. Nobody that age has money. And if they do, they also have tons of debt. You have to be selective about who you pump for referrals. Think about WHO they would refer.You say "how do you get them to think about their wealthier friends". Here's the deal...if you are wealthy, your friends are probably on the wealthier side. If you are not, generally neither are they. A 35 year old is not going to refer his 55 year old wealthy boss to you. Just ain't gonna happen. Think colleagues (at the same level) and friends. This is who people will refer to you. So again, only ask people that you want to clone.