ask for referrals Archives - Don Connelly & Associates

Here’s a Four-Pronged Plan to Become a Highly Referable Advisor

/ by Don Connelly / Prospecting / 0 comments

Most financial advisors find it difficult to ask for referrals. That we know because less than 11 percent even bother to ask. Maybe that small cadre of advisors knows something the other 89 percent don’t—that nearly three-quarters of high-net-worth clients say they would refer friends or colleagues if their advisors asked. That’s quite a disconnect, so I’m wondering if there is something else going on that’s preventing advisors from tapping this precious and obvious source of new clients.

5 Reasons Why Clients Might Not Want to Refer You

/ by Don Connelly / Managing the Relationship, Prospecting / 0 comments

The best way to gather new clients is via referral, especially since many wealthier investors find their financial advisors this way. If you are failing to acquire referrals, you need to address this issue as a matter of importance. Lack of success invariably boils down to a number of reasons – in particular an inability to get along with people.

Here are 5 reasons that could explain why clients aren’t lining up to refer you.

There Are Three Main Ways to Gather New Clients

/ by Don Connelly / Prospecting / 0 comments

There are three main ways to gather new clients and grow your business. To excel, you should put your effort into mastering all three of them.

1. Acquiring new clients from existing clients
Referrals are by far and away the best way to gather new clients. And the only way you can earn referrals is by becoming referable – which will only happen once your clients feel you’re delivering them a 5-star service.

Clients won’t refer you until you become part of their inner circle, when you become someone they like and trust on both a personal and professional level.

Put in The Effort if You Want to Become The Most Sought-after Financial Advisor in Town

/ by Don Connelly / Best Practices / 0 comments

To become a truly elite financial advisor you need to have an incredible work ethic. If you’re new to the business, you will need to spend most of your time actively prospecting and looking for clients. It could take years to build a solid client base – but when you have built up the right clientele, you will be rewarded with a pool of people who are happy and willing to provide you with referrals.

To achieve this enviable position, continually visualize yourself as a first-class advisor. Program that picture into your subconscious mind. Then work harder than any other advisor, perfect your soft skills, earn referrals and make this dream a reality.

Three Major Challenges Financial Advisors Face when Acquiring Clients

/ by Don Connelly / Marketing Yourself / 0 comments

Pinpointing the main challenges Financial Advisors face in their daily work is a challenge in itself, considering there are so many. But here are three of the most often cited pain points – with a few tips on how to address them.

#1. Getting referrals

If like a lot of other advisors, you often find it difficult to ask for referrals it’s because asking for referrals is essentially like asking for help to grow your business. And having to ask for someone’s help feels like admitting that your business is deficient in some way. Asking for referrals also means facing up to your fear of rejection.

How to Be a Better Prospector

/ by Don Connelly / Prospecting / 0 comments

To succeed in this competitive industry, you need to be creative when it comes to acquiring new clients. No one universal approach is likely to be your Holy Grail when it comes to prospecting. Instead, you will need to adopt a number of prospecting approaches and learn, through trial and error, which work best for you. Once you’ve found a method you’re good at, you’re likely to enjoy finding clients that way, boosting your job satisfaction as well as your ability to attract new clients. Here are a few prospecting approaches to try.

Stick to the Basics – Success Tip for Financial Advisors

/ by Don Connelly / Best Practices / 0 comments

Let’s talk a bit about sticking to the basics.

I had the good fortune one time of talking with Quinn Buckner. Quinn Buckner, I believe, won a national championship in college in basketball, played in the NBA for the Boston Celtics. I’m a basketball fan and a big Celtic fan. Quinn played with Larry Bird who I think, along with Michael Jordan, is the best that ever lived.

I asked Quinn Buckner what the most amazing thing was that he ever saw Larry Bird do. And he said:

Financial Advisors Tips: How to Get Referrals

/ by Don Connelly / Don Guest Authoring at..., Prospecting / 3 comments

A wag once noted that having to call or introduce yourself to strangers is God’s revenge for not getting referrals. The reality is that every time you open a new account, you’ve lost your best prospect. Referrals are essential, yet asking for them makes most Advisors uncomfortable.

Allow me to offer two suggestions.

3 Prospecting Tips You Might not Like but Should Embrace

/ by Don Connelly / Prospecting / 0 comments

Out of all your daily tasks, prospecting will bring you the biggest rewards. It will open doors, get you new accounts and increase your assets. Unfortunately many advisors see prospecting as one of the least enjoyable parts of the job. But don’t put off prospecting, it’s something you have to do. It is the one thing you can’t delegate.

As you get better at prospecting you will start to enjoy it more. Here are three ways to help you get more comfortable with prospecting.

Where Does Social Media Fit in Your Financial Advisor Practice

/ by Tony Vidler / Marketing Yourself / 0 comments

Where Does Social Media Fit In Your Financial Advsor Practice

Every time advisers discuss passionately that a certain marketing method is dead, or that a new type is the “new thing” I am reminded of the royal decree that occurs when a monarch dies:

The king is dead, long live the king

This refers to the instant succession that occurs in a monarchy – as one King dies the next in line immediately becomes the King.

Marketing professional services is simply not like that at all.

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