Table of Contents

How referrals lower customer-acquisition costs Why HNW prospects like being referred How many clients really want to give you referrals The core challenge of getting referrals Why the ad hoc referral approach typically fails The case for a strategic referral process Eight questions every referral strategy must answer Understanding the referral triangle Why a referral process mitigates risk

How your frame of mind influences referral success Referral fear and how to overcome it Why advisors try to justify referral aversion Understanding the dormant referral potential in your existing book Debunking the "damage threshold" Three remedies for beating referral aversion How referral requests really affect advisor-client relationships Why advisor-centered referral approaches are deadly to your business How to measure value in the referral triangle Why client-centered referral requests will power automatic referrals The four core beliefs of the referral mindset

Why having goals is key to generating automatic referrals Understanding the two types of referral goals How SMART goals work Eight tips for actionable referral goals How to translate referral goals into concrete action steps How to determine how many referrals you need How to map out a referral action plan

Identifying ideal clients and markets The single greatest secret to getting quality referrals on an ongoing basis How to train clients to spot qualified referral candidates Five ways to test your target market The role of active networks in target- ing referral success Key benefits of articulating your Ideal Client Profile The five key qualities of an A client How to clone your best clients

Why you, not your clients, are responsible for the quality of the referrals you receive How to regulate your referral pipeline The truth behind the "I don't know anyone" response How the KISS principle can help you get qualified referrals Why to shoot for face-to-face introductions How to put introductions in writing—if necessary

Understanding the many sources of referral flows How to look beyond your clients for referrals How to uncover the important social and business connections of family, friends, and colleagues How to use network maps to identify new sources of referrals Why documenting client comments helps drive more referrals When it's worthwhile to take on the "less than perfect client" How to build a referral profile Why C clients may be worth keeping

How long to wait before asking for referrals Key client events that set up referral requests How to turn compliments into referrals How to be certain you convey sincerity when asking for referrals Understanding what motivates your referral sources The four best times to ask for a referral How to find the proper "angle" for meeting with a referral prospect The soft techniques that support your referral efforts How to ward off referral objections

Why your fear of asking may be overblown In-house referrals—the best untapped referral source The four-step process for turning close personal and business contacts into referral sources How to dispel outdated images of yourself Overcoming three obstacles to in-house referrals 12-step formula for cultivating in-house referrals

Why strategic partnerships often fail Three steps to referral success with strategic partners The keys to getting referrals from allied professionals Five principles of selecting and securing referral partners How to connect with CPAs 17 questions CPAs will ask you What CPAs fear most about forming strategic partnerships with you Understanding referral relationship opportunities with estate attorneys Four ways to meet estate attorneys The problems estate attorneys wish you'd help them solve Architects, business brokers, and other "outside the box" strategic alliance partners Six critical steps to keep referral partnerships running smoothly

Understanding the benefits of formal networking groups How to get the "Man, you know everyone!" reputation Three networking questions pioneered by Ben Franklin Four basic principles of effective networking How business cards and elevator speeches can kill your networking The one trait that all superstar networkers share 12 steps to networking success How to break the ice at social and business events Seven secrets of natural networkers

The "cover charge" every successful advisor pays for referrals Proper care and feeding of referred prospects The five questions you should ask yourself before every call to a referral What to do when you encounter resistance from prospects Why offering "back door" escapes can build your credibility How the "up-front contract" works with prospects Two scripts for follow-up success How to respond to "I already have an advisor" and "I really don't have time to see you" The surefire process for making referral sources feel appreciated

Why referral goals must be measurable Understanding what to track The hard-number approach to measuring results The activity approach to tracking referrals success 11 referral metrics worth tracking How to develop your own tracking system

The one question you must answer correctly to succeed in getting referrals How to create and leverage "raving fans" Four "must-have" client service priorities The two accounts you must manage for every client Eight little extras that make clients happy and cost almost nothing Why you should include CPAs and estate attorneys in your service strategy How to reward referral sources The polestar by which to guide your career

How an FA Doubled Revenue—Without a Single Cold Call How to Use ACT to Maximize Referrals How to Boost Referrals Using a Client Advisory Board Referrals—A Fresh Tack That Yielded $35M

What I Do for My Clients worksheet Establish Your Referral Targets worksheet Create an Action Plan worksheet Identifying a Target Market worksheet A-Client Analysis worksheet Ideal Client Profile worksheet Mapping Client Networks worksheet Prospective Referrals Form Referral Follow-Up Checklist Call Planning Sheet Referral Tracking Sheet