Year-end reviews and asking for referrals

The end of the year is a perfect time to meet with clients to review the year and even ask for a referral or two.

One of the best times many advisors gain referrals is after an annual review. You’ve read this on my blog before and many advisors have done this for many years. When you complete your year-end review with a client, ask them if they’ve been satisfied with your level of service. If they reply “NO”, then you have to probe with more specific questions and get to the root of the problem. A client will be honest with you. Repair it if you can and ask what else you can do to receive an A-Plus rating. If the answer is “YES, I enjoy working with you and let’s continue for sure.” Acknowledge their complement and explain how much you enjoy working with them. Now you have an opportunity to see if they know anyone else that may need a great advisor like you. The simple question you ask is this. “Is there anyone else I can help, the way I have helped you with your retirement goal or college funding” (or whatever you’ve helped them with.)  Yes, it’s that simple. Try it and you’ll see.  When they give you a name or two, ask if you can all have breakfast or lunch with one of them, and get a personal introduction. It’s that easy.

This is just one of the ideas I’ve learned from some of the most successful financial advisors in the business. I’ve shared many of these ideas in my #1 International Best Seller ~ The Best Practices of Successful Financial Advisors.

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