Referrals

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Oct 12, 2005 9:43 am

This is one part of my bussiness I need to improve in! Maybe all of us do.


I have never had any training in asking for referrals and would like some suggestions on what works and what does not.


Oct 12, 2005 10:18 am

"viral marketing"

Oct 12, 2005 1:02 pm

Sonny - it's like anything.....there is no sure fire way to get a client to cough up names. All you can do is plant seeds. Uncover the ones who are on your team......and exploit the hell out of them. These guys who travel around the country doing "power referral" seminars......are just guys who did not want to be brokers anymore, trying to make a buck on a perceived idea of how we can all double our income.

Oct 12, 2005 2:38 pm

After having a positive meeting, I just ask, " is there anyone you know in a simmilar situation that may need to sit down and talk to someone like me?"

Oct 12, 2005 4:15 pm

After having a positive meeting, I just ask, " is there anyone you know in a simmilar situation that may need to sit down and talk to someone like me?"


thats fine, but everyone uses that spiel. we have an fa here who takes all his recent clients to lunch. he has the wholesaler who received the business (usually alliance, mfs, or blackrock) attend and pay, and he asks the client to bring two mutual friends. the wholesaler gives a general market update and insight into the funds purchased. he tries to set this meeting within 2 weeks of the new relationship to leverage the clients enthusiasm for working with him. it must be working because within 4 years he is solely working of referrals, his minimum account level is 400k, and his net new this year is around 13 million..