Three Must-Have Components to a Sustainable Referral Process

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How long have you been searching for the silver bullet of referrals? You’re not alone. Financial advisors have been searching for decades. I’ve been coaching on the topic of referrals for nearly 20 years.

Everyone has an opinion on everything, including referrals. Unsurprisingly, there is no silver bullet, and you will discover some methods are ineffective.

What I’ve realized is that advisors want a referral process that works and is comfortable, sustainable and repeatable. Facing off with clients at the end of a review meeting with a referral request makes everyone squirm.

Those days are over, at least for my clients.

That method may have worked at one time, however it’s certainly not comfortable for advisors and today it’s not sustainable.

Developing a referral process that is comfortable, sustainable and repeatable doesn’t need to be complicated. In fact, if something is too complicated, you won’t do it. That’s human nature. The trick is to work with yourself and not against yourself. Increase the chances of your success by developing something that is easy for you to implement, aligns with who you are, and gives you the results you want. If it’s in alignment, you’ll feel comfortable implementing it and will be willing to do it over and over (sustainable and repeatable).

For a sustainable referral process, here are three must-haves you can’t ignore.