Any financial advisor who’s been in business for more than a minute knows the best way to grow a practice is through referrals. We’re taught from the very beginning that the best source of quality referrals is from clients. Advisors who focus on differentiating themselves by delivering exceptional, highly personalized services to their clients are often rewarded with referrals.
But clients aren’t the only source of referrals. Many highly successful advisors create a comprehensive referral marketing strategy that taps multiple sources. While building a fruitful referral network can take time and effort, it is the one sure way to establish a steady stream of qualified prospects.
Here are five of the best referral sources financial advisors can develop.