Filed Under:Your Practice, Sales Marketing

Referral strategy: Find alternative centers of influence

Because centers of influence, such as CPAs and attorneys have the types of clients most advisors want, creating referral relationships with these professionals should be an effective way to generate business. But many advisors are frustrated with this strategy because, first, many advisors find they refer clients to them but never receive a referral in return. Second, these COIs already have a relationship with a financial advisor and aren't willing to refer to another professional. Last, it can take years to develop these relationships, and there are few signs of encouragement to keep them motivated over this length of time.

But even if you haven't had much luck generating referrals from these professionals, don't give up your COI strategy all together. A COI doesn't have to be a CPA or attorney; it's anyone who has the ability to influence a potential client to pick up the phone and call you. It's time to think outside the box when it comes to your COI strategy.

Featured Video

Most Recent Videos

Prospects not listening to voice mail? Arrange a phone date

Provided by LIFEHEALTHPRO

Redesigning your phone life is more important than finding the “best words” for a voice mail in today’s culture.

Behind the scenes with Vicki Gunvalson [VIDEO]

Provided by LIFEHEALTHPRO

In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI

Provided by LIFEHEALTHPRO

Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's

Provided by LIFEHEALTHPRO

An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Related resources

More Resources

Comments

Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Close
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.