Most advisors understand the benefits of having an accountant or estate attorney on speed dial. They can be resources for your clients, not to mention valuable sources of referrals. But for a network of professional contacts to be effective in helping you grow and sustain your practice, you need to do more than simply reach out to your friends who went to law school. “Building a successful network means casting a wide net to include many different kinds of professionals and other people,” says Sheryl Garrett, founder of the Garrett Planning Network, a nationwide network of fee-only financial advisors.
Becoming an effective networker is also a labor of love. It takes time and effort to build and maintain an effective network, as well as communication and relationship building skills. But when executed properly, it can be a powerful tool to help your practice grow. Consider the following seven tips to help you build and maintain a strong and comprehensive professional network.