TIRED OF ONE-WAY REFERRALS?

Are you sick and tired of eternally sending CPAs and attorneys referrals and never getting any back?  This is one of the most frustrating parts of networking as a financial advisor.  Everyone tells you that you need to build relationships with COIs (Centers of Influence), but no one explains how to get them to fully engage with you.

Today, I will.

We have to first start by understanding that CPAs and attorneys get hit up by dozens of financial advisors every year.  It is a non-stop stream of invitations to coffee and pitches that advisors hope are fancy enough to "earn" COI referrals.  But they seldom do.

We need to realize that in the mind of a CPA or attorney, referrals are risky, and advisors are all the same.

Referrals are risky because most advisors are salesmen.  Most of them are pitching asset management, insurance solutions, or some new fandangle alternative product.  Sending a referral their way is sending them to the wolves to be "sold."

If we want to build deep, reciprocal relationships with Key Partners, we need to remove the risk and differentiate ourselves from the herd of other advisors.

We differentiate ourselves by sharing our…

1. Planning Philosophy- Advice-Based Financial Planning
2. Advice-First Service Model- Initial, Annual, and Fee Structure
3. Commitment to Serve- Free High-Value Discovery EXPERIENCE

It is highly unlikely that any other advisor has presented them with a cohesive story about how they do business.   No one else is highlighting the sales-centric reality of our industry and offering a solution.  No one else is offering to deliver real value to referrals, no strings attached.

Now that we have piqued their interest, we need to remove the risk from the equation.

We have lowered risk by transparently outlining exactly how we do business and explaining our Commitment to Serve.  These things begin to lower risk, but one more step is required to help them internalize the idea that it’s not dangerous to send people your way.

Invite them to experience the Discovery EXPERIENCE for themselves.

Very few people refer others to something they haven't done themselves.  Have them come into your office and do a mock Discovery EXPERIENCE. 

When they see for themselves that the Discovery EXPERIENCE is a truly meaningful exploration of their fears, values, and goals and it culminates in a list of actionable next steps, they can see clearly that anyone they refer to you will be positively impacted by the experience.

At this point, they have experienced your differentiation firsthand and will feel safe sending your referrals. 

I can't guarantee that every Key Partner who does a Discovery EXPERIENCE with you will send referrals, but I know that it will significantly deepen the relationship and raise the likelihood of those introductions.

Einstein said, "The definition of insanity is doing the same thing over and over and expecting different results." 

If you want deeper, more reciprocal Key Partner relationships, you have to start doing a few things differently.  I have covered a couple of ideas in this blog, but there is much more you can do! 

Ready to put this into action? 

If you're ready to implement the Discovery EXPERIENCE in your practice, join our two-month private coaching package teaching you to deliver an emotionally significant initial experience and get hired for advice by the right clients in just one meeting.  


Enroll today. > > >

 
-Lucila