How advisors can get more client referrals — Sales Coaching and Marketing Firm for Wealth Managers

Guid·ing Ques·tion

noun

Definition: The inverse of an open-ended question; one that leads to a specific answer

Referralytics Guiding Questions help your business contacts pinpoint exactly who in their network could be a good referral for you, thus making the process a lot simpler and direct

Open-ended questions and old fashioned methodology:

  • If you know anyone who would like the same services you are receiving, feel free to give them my card!

  • We have seen a lot of investors worries about the markets; can you think of anyone who would like a second opinion?

  • Or: Thanks for sending us a referral, we look forward to meeting him! (And then it ends up being a prospect below your firm's minimum)

Referralytics™️ Guiding Questions

  • I noticed on the YMCA Board that you're on there is a guy who went to Duke like me, John Smith!  Can I reach out to him and mention I know you?

  • I was just looking at your Linkedin account and noticed we had someone in common, David Smith.  How do you know Republic Realty, as we work with a lot of real estate investors!

 

 

As Seen In

 

Referralytics™️ is a proprietary research methodology program, Created by Select Advisors Institute, to help financial advisors, accountants, consultants, and other service providers significantly expand the quantity and quality of referrals they receive from their existing business connections

Interested in receiving your first report so you can make Referralytics part of your business development process?

Our Research ☛ Our Coaching ☛ Your Referrals

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SAMPLE GUIDING QUESTIONS ➳

⦿ Do you belong to any sporting groups over the weekends?

⦿ Besides your estate attorney, have you worked with any other type of attorney?

⦿ Who has funded your son's startup?

FAQ's

+ Shouldn't I just wait until this information and referrals happen naturally?

You definitely can, but in an industry that is getting more and more competitive, you will notice your referrals continuously slow down as your competitors become more and more active in reaching out to the people you want to meet. These competitors no longer include just financial advisors, but banks, investment bankers, accounting firms, and roboadvisory firms, to name a few. Until recently, most advisors gathered information about their clients' network through conversations at meetings, a round of golf, or professional discussions over lunch. While these methods work and can yield important insights, they will not be sufficient given so much competition to win the business of investors and high net worth families. More than ever, investors are more discerning and less accessible than most and it will often take something more to win their business and referrals.

+ How can this information help me?

  1. Our Referralytics data can help you create significantly more opportunities between you and your contact by connecting the dots for them and pinpointing exactly who you want to meet. Having a fact-based foundation enables you to initiate more meaningful and consultative interactions with your business connections, spot avenues of access that might otherwise have been hidden and earn more referrals through preparation and focus.
  2. Rather than relying on serendipity to achieve organic growth, having an understanding of how to leverage specific insights around your contacts' social circle can be extremely effective. An informed advisor who arrives with our pointed Guiding Questions will garner the most trust, respect and new business.

+ What information will Referralytics provide?

Every business connection will have interesting information pertaining to them that can help you uncover new referrals. In general, we will look for important points of connection that fall within one of these categories, to name a few:

⦿ Sources of wealth
⦿ Family members, including great grandparents and extended family
⦿ Business associates, current and former colleagues
⦿ Neighbors and community friends
⦿ Current and former colleagues
⦿ Philanthropic involvements and board associates
⦿ Passions and hobbies
⦿ Political affiliation

+ What if my contacts don't know anyone?

The Law of 250 states that every person knows at least 250 other people. For example, if you were to make a list of people to invite to your wedding, you would likely be able to come up with about 250 people. It is virtually impossible that one of your contacts would not have a prospective client that they can introduce you to.

The best financial advisors understand that ongoing growth requires more than just technical expertise—it demands leadership, communication skills, and the ability to navigate complex client relationships. An executive coach specializing in financial advisors helps professionals refine these skills, ensuring they can effectively articulate their value, build trust with clients, and lead their firms to long-term success. Select Advisors Institute offers tailored coaching that equips advisors with the mindset and strategies needed to excel in a competitive market.

One of the key benefits of working with a top-tier coach is accountability. Even the most experienced advisors can fall into patterns of inefficiency, losing focus on business development and client engagement. A coach provides structured guidance, keeping financial professionals aligned with their goals while identifying blind spots that may be holding them back. With Select Advisors Institute’s executive coaching, financial advisors receive personalized strategies designed to maximize productivity and accelerate business growth.

Beyond business strategies, coaching also helps financial advisors develop a resilient and success-driven mindset. The ability to manage stress, overcome challenges, and maintain confidence in high-stakes situations is what separates the best advisors from the rest. Through proven coaching methodologies, Select Advisors Institute empowers financial professionals to lead with clarity, adapt to industry changes, and stay motivated, no matter the obstacles they face.

For financial advisors who want to attract high-net-worth clients and scale their firms, investing in the right executive coaching program is a game-changer. The best coach for financial advisors is one who understands the nuances of the industry and provides actionable insights tailored to each advisor’s strengths and business model. Select Advisors Institute has helped countless financial professionals unlock their full potential, strengthen client relationships, and position themselves as top-tier advisors in their field.

Building a Digital Presence to Market Your Financial Advisory Business
Marketing a financial advisory business begins with establishing a strong online presence. A well-designed website optimized for search engines ensures potential clients find you easily when searching for financial guidance. Include client-focused content like blogs, FAQs, and financial calculators that address common concerns and demonstrate your expertise. Additionally, leverage social media platforms such as LinkedIn and Twitter to share success stories, financial tips, and industry insights. These platforms not only help establish credibility but also encourage engagement with your target audience, building trust over time.
Leveraging Personalization and Client Insights in Marketing
Personalization is key to effectively marketing a financial advisory business. By understanding your clients’ unique goals and challenges, you can craft tailored solutions that resonate with them. Utilize tools like email marketing to deliver personalized financial planning tips, reminders, and market updates. Hosting client-centric events, such as webinars or workshops, further positions your firm as a valuable resource. Don’t forget to gather feedback from existing clients to refine your messaging and ensure your strategies align with their needs. These efforts build loyalty and attract referrals, creating a sustainable growth pipeline for your advisory business.