Referral Source Development

Implementation Resources

·       Tips on Building Your Base of Referral Sources – Review this list of tips for strengthening your referral source relationships.

·       Networking Contact List Thought Starters – Use this list of questions to help you start to think about who your trusted advisors and prospective referral sources are.

·       Elevator Speeches – You may have a few seconds or a few minutes to let someone know the value you bring to your clients.  Use this tool to deliver a values-focused introduction of yourself - - to those you want to refer business to you.

·       A-Level Client Criteria – As you begin implementing a program to increase the number of referrals you generate, it is important to keep in mind that not all clients are “ideal” clients.  You will want to make sure that the clients you add to your growing practice are the kind of clients who will present the greatest opportunity to you in terms of revenue, fit with your expertise and experience and/or professional goals.  After you consider your criteria, make a list of your Top Ten Prospective Clients, and add these individuals to your Contact Manager. 

·       A-Level Referral Source Criteria – You will also want to consider who among your contacts will make the best source of referrals for you.  Again, after you consider your criteria, you'll make a list of your Top Ten Referral Sources, and add these individuals to your Contact Manager.

·       Key Messages – Developing key marketing messages is one of the most important steps you take toward best positioning your expertise to your referral sources.  This will help you clearly specify the messages that your referral sources need to hear about you.

·       What Makes you Unique as a Financial Advisor? – As you develop a plan to attract more referral sources, consider first what makes you unique as a financial advisor.  Use this tool to record your answers to specific questions to help you determine what differentiates you from other financial advisors. 

·       Tips for Creating an Effective Advisory Board – Create an advisory board of your key clients, referral sources and other centers of influence.

·       Marketing Meeting Planner/Overcoming Objections – This tool helps you to prepare strategically for meetings with referral sources and prospective clients, anticipate the questions and concerns they may have about you and your practice, and prepare to respond favorably to win their confidence and business.

·       Convert your Document to a PDF – Use this tool to convert your biography and representative experience to PDF format to easily send information to your referral sources.

·       Overcoming the Barriers to Effective Networking – As you build relationships with referral sources, determine what your networking barriers are and how you can overcome them.

·       What Makes Your Firm Unique? – Use this tool to help shape your thinking about what makes your practice unique in the marketplace, and how to communicate those distinctive characteristics to prospective clients and referral sources.

·       Tips for More Effective Communications – Practical suggestions for both men and women for positive and professional interaction with referral sources based on gender.