Financial Advisor Lead Generation Tips - 21 Referral Partners Every Financial Advisor Should Have

"You Close The Sales. We'll Generate The Leads"

Posted By: Top Team Blog


…Plus How To Put A LOCAL Referral Marketing Network To Work For You

 

referrals

Many Financial Advisors would love to have a steady stream of referral clients coming in. Who wouldn’t after all! So they try to contact accountants, CPAs and 1 or 2 estate planning attorneys to entice them to refer their clients to them. Many decline yet sometimes these referral partners (also referred to as ‘Centers Of Influence’) agree to the proposition. Some advisors even sweeten the offer by sending referrals of their own to these referral partners. Yet oftentimes, many years later, few if any referrals have been received by the Financial Advisor.


So what can you do as a financial advisor to more effectively build and leverage your own professional referral network for lead generation? The answer is simple…expand your referral network options! Too many financial advisors are narrowly focused on simply setting up CPAs and accountants as referral partners. So what ultimately happens is that by the time you approach an accountant or CPA with your idea, they’ve actually heard your proposition many, many times before from other advisors.


To become more successful, focus on professionals, in other industries, that also work with your ideal clients. These other professionals are not often thought of or known to many financial advisors. This means opportunity for you!


To make it easy for you, we’ve compiled a list of 21 referral partners that every financial advisor should have. As you read though the list, you’re going to notice many that you never thought of setting up as a referral partner. Yet these will all refer you TOP Quality prospects.

 

--------------------------------------------------------------------


Get your FREE membership now and get access to the latest business building webinars, videos, eBooks, templates & more.


--------------------------------------------------------------------



Here are the TOP 21 Referral Partners every Financial Advisor should have:


1. Accountants


2. CPAs


3. Tax preparers
– have access to client’s financial information and every year help people to get tax refunds that result in them receiving large sums of money.


4. Book keepers - have access to small business owners and self-employed professional’s financial information. They have clients that need your various services.


5. Insurance Brokers - that sell only auto and property. They can refer you retirement planning and investment clients. They can even refer you life insurance clients and you both simply split the commission. Many have a life license yet don’t want to sell life insurance. So they can refer that business to you and get paid a commission.


referral marketing


6. Mortgage Brokers – Have clients that get refinances, buy or sell multiple homes and investment properties, etc. and ultimately come into large sums of money.


7. Reverse Mortgage Originators – these deal with senior homeowners who after getting the reverse mortgage, come into a large sum of money yet often don’t know what to do with it!


8. Private Commercial Lenders – work with business owners who have good credit, assets and cash flow. A good source of referrals.


9. Community Bank Reps - Understand that you provide services that they and their bank do not. They’d rather refer their clients to you than lose them to a bigger bank that does provide financial advising services in-house.


10. Credit Unions - Understand that you provide services that they and their credit union do not. They’d rather refer their clients to you than lose them to a bank that does provide financial advising services in-house.


11. Realtors - Have clients that buy or sell multiple homes and investment properties, etc. and ultimately come into large sums of money. These clients need trusts (for their home and estate) and financial planning services.


12. Paralegals – work with people who get living trusts, wills, divorces, etc. and have money to invest. They may also work with a network of attorneys that they can introduce you to.


13. Credit Repair Specialists – work with people who are improving their credit score to usually buy a house, car, get a loan (home refi or business loan), etc. These people are already financially minded and are good prospects.


14. Bankruptcy Attorneys – work with clients that have to rebuild their life and finances. These make for a good source of consistent referrals.



hands

 


15. Divorce Attorneys – deal with clients that come into large sums of money (alimony, palimony, etc.) and usually don’t have the first clue as to what to do with it.


16. Personal Injury & Medical Malpractice Attorneys – deal with clients that come into large sums of money and usually don’t have the first clue as to what to do with it.


17. Life/Success Coaches – Tend to work with CEOs, self-employed professionals and affluent people to help them become more successful in life. The financial component of life is oftentimes addressed in the coaching.


18.Travel Agents (upscale cruises, exotic tours, etc.) – Upscale travel agents focus on affluent clientele and work with the types of people that you’re looking for.


19. Private Teachers at local community centers (that teach financial topics) – These are teachers that teach on a variety of topics at local community centers. Focus primarily on the ones that teach about financial topics. They’re classes teach students how to invest in the stock market, how to invest in real estate, how to take control of their personal finances, how to start their own business, etc. They can be a good source of LOCAL referrals.


20. High End Car Dealerships & Sales Reps – These work with affluent clientele. They can joint venture with you and promote your webinars and seminars to their clients. If you’ve written any books, audio books, DVDs, etc., they can include these as FREE gifts to their clients. They can also have your promotional material sitting around their desk and office.


21. Finance Companies & Sales reps for high end purchases (planes, boats, RVs, etc.) – Like number 20 above, these also work with affluent clientele. They can joint venture with you and promote your webinars and seminars to their clients. If you’ve written any books, audio books, DVDs, etc., they can include these as FREE gifts to their clients. They can also have your promotional material sitting around their desk and office.



Make a goal to set up at least 10 – 15 referral partners. You could focus on one type of Referral Partner (i.e. divorce attorneys) and just set up 10 – 15 of them. Or one of each type from the list above for a total. Once your network is built you can enjoy having a steady stream of new PREQUALIFIED prospects being referred to you consistently throughout the year.


Think about it, if you have just 10 referral partners and each one refers in just 2 clients every 3 months, that’s a total of 20 clients in 3 months! 80 clients per year! Year after year.


Plus, this is an effective financial advisor lead generation marketing strategy for locking down your local market. Imagine having a network of these professionals throughout your target city(ies) referring clients to you. Now everywhere that your potential clients turn they keep getting personal endorsements from your referral partners, plus recommended to you for your expertise and capabilities! They keep hearing your name over and over again which not only builds up and promotes your company brand yet also separates you from other financial advisors and makes you the obvious choice to do business with!

 

 


If you’d like to learn more insider tips on how to grow your business, sign up for a membership by clicking here.


You get access to the latest business building webinars, how to videos, eBooks, templates, checklists and more. You get $10,000s of thousands of dollars worth of business building information right at your fingertips with access to it 24-7-365.


Get your FREE membership now

 







Comments

Membership

Listen Audio

video


YouTube