Advisors: Is Your Referral Process this Good?

Apr 19, 2018

Throw Back thursday

Last week, I wrote about how training your staff is not only crucial to building your brand, but also can increase your referrals. That post explains how employees tend to see the business through only the lens of their current job or tasks. By training them to look at the bigger picture, they can help your business grow.

This week I want to share another activity that, as per our Elements of Referability paper suggests, has a high correlation to more referrals. That is building a repeatable, workable process.

Rather than my words, I’m throwing it back on a Thursday to share a 2012 Practically Speaking post How Four Different Advisors Lost a $3 Million Referral. This Dan Richards post does a great job showing the consequences of not having a referral process in place and what steps you can take to create one. Dan’s story of Bob’s experience is one of my all-time favorites and I am pleased that it appeared in this space.

Read How Four Different Advisors Lost a $3 Million Referral and then ask yourself: what would you (or your staff) do if Bob called?  Would you even know if you missed out?

The opinions and views expressed herein are those of Dan Richards. SEI bears no responsibility for their accuracy. Dan Richards is not affiliated with SEI or its subsidiaries

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John Anderson

John Anderson

John Anderson is the creator and lead author of Practically Speaking blog and Managing Director of Practice Management Solutions for the SEI Advisor Network.

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