5 star financial advisor practiceThis is my last blog post about how to create a five-star referral system that attracts and enrolls ideal clients.

What is often overlooked about getting referrals is that old F word. Yes, fear, but this time it’s not your fear of asking, this time it’s the fear the referral source has of giving. They worry that if they give you a referral their friend might have a bad experience with you. You might not treat their friend with respect and instead become a pushy salesperson.

The last thing they want to hear is a friend complain about you.

Even though part of them wants to refer you because — if you’re doing your job right — they like you and appreciate your service. And, of course, they also want to help their friend. People like to help people because it makes them look good and feel good.

So, even if they want to refer to you, it’s safer for them not to. To deal with this challenge, you must reassure them that it is safe. Let them know that you’ll treat their friend with the same professionalism you use with them. Tell them you will give their friend your best advice — even if they don’t end up becoming a client.

To sum it all up, here are the things you need to do for a five-star referral system:

  • Be referable.
  • Build a strong relationship with your clients
  • Keep them engaged so they feel invested in building your practice
  • Market to the particular groups your ideal clients belong to
  • Show them your written “ideal client profile” so they know whom to refer
  • Ask for referrals when they are happy with you
  • Convey you are doing them a favor when you offer your services to their friends
  • Reassure them it’s safe to refer to you

Put all of these steps in place and you will have a five-star referral system to bring you a steady flow of profitable referrals.


P.S. Like this blog? Please pass it along to your advisor friends.

P.P.S. If you’re not already a subscriber, get more money-making ideas like this delivered straight to your inbox. Just click here: