Get More Referrals by Answering This Question Correctly

Unfortunately, many financial advisors bungle a terrific opportunity to position themselves for more referrals when asked the question, “What do you do?” They answer with their occupation or title. When you position yourself by occupation or title, in the prospects mind, you’re just another financial advisor, planner or wealth manager—you’re not special.

Every time you’re asked that question you have a golden opportunity to gain valuable referrals if you answer the question in the right way.

Hundreds of my clients have told me that the most fruitful way to answer this question is to use their USB, their unique selling benefit.

Here are some examples of identity statements that work:

“I’m with Golden Goal Posts Advisors. I guide professional quarterbacks to financial security.”
“I help inheritors preserve, protect and transfer family wealth.”
“I help radiologists chart a course to financial independence. ”
“I’m CEO of Solutions for Financial Advisors. I help independent financial advisors get more profitable clients and more money under management.”

Should you include the name of your company in your answer? Only if the name of your company suggests a benefit or your company is a well known brand.

Here’s a guide for creating a compelling identity statement to answer the question “What do you do?”

  • Describe exactly whom you work with. This gives them a clear idea of whom you do business with and makes it much easier for them to find appropriate referrals for you.
  • Keep it short and sweet so people understand exactly what you mean. Avoid boring, drawn out mission statements. Their eyes will glaze over.
  • Make it concise—use the word “and” only once.

How many of you already have a USB, or tagline, for a succinct description of what you do?

If you haven’t already done this, here’s how to craft your own compelling identity statements.

Write 40 or 50 quick drafts. Many may differ by only a word or two. Do not judge them until you have them all written down. Then pick the one that feels right and is easiest to say.

Tip: Use the words that your niche uses. It’s a great idea to interview people in your niche to find out exactly what words appeal to them.

Focus on the client and be honest and genuine. Use these formats:

  • I help (specialty/niche) who want (desire or problem to be solved).
  • I help (specialty/niche 1) and (specialty/niche 2) who want (desire or problem to be solved).
  • I help (specialty/niche) who want (desire/ problem to be solved) and (desire/ problem to be solved).
  • I help (specialty/niche 1) who want (desire/ problem to solve) and (specialty/niche 2) who want (desire/problem to solve).

This is a critical step toward positioning yourself to get more referrals.

Do you have any identity statements you’d like help with? Send them to me and I’ll help you make them better.
Feel free to reply to any of my emails with your questions.

Be the best you can with Stan the Mann

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About Stan Mann
An author, researcher, and business coach for financial professionals, Stan founded Solutions for Advisors to help financial professionals build an ideal business with less work and less stress. He is the only coach with expertise in marketing for advisors and expertise in clearing away negative beliefs and fears that block success. So you not only know what to do to grow your business, but actually do it. Stan is a widower living with his daughter and her hundred one pound German Shepherd in Las Vegas. He does virtual coaching by phone or Skype in the US, UK, Europe and Canada. He holds a Masters Degree in Clinical Social Work from the University of Michigan.


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