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Are you in the habit of routinely asking for client referrals? If so, fantastic. Consider this a pep talk. If not, well, it’s still a pep talk. But it’s also a call to action.
Advisors who fail to ask their clients for referrals generally say to themselves, “I know I probably should but …” followed by any number of rationalizations: It feels awkward. It’s not my style. This isn’t the right time or place. I forgot. I don’t know what to say if it’s not a good fit. I’m not currently seeking new clients. I’m just no good at it.
Do I have to?
If you’re hearing shades of your own reasoning here, I challenge you to shift your mindset: Asking for referrals is not a chore or an embarrassment. You’re not just asking a favor, you’re doing one. It’s a chance for everyone to benefit — you, your clients and the people being referred.
What’s not to love about a three-way win like that?
It feels good
Advisors who do ask for referrals know a big secret: Good clients actually appreciate being asked. I know, because I’m a client. Trust me, once you’ve got us, we love you. We are grateful for the help you provide us, and we are flattered when you turn to us for our help with something, for a change. We love having the opportunity to give back. We love showing off how smart we are to have identified such a great advisor. Everything about referring others to you makes us feel good.
It makes things stick
If that’s not convincing enough, think about it this way if you’re worried that clients will find it annoying to be asked for referrals. I believe the request actually further cements your relationship. After referring some of my friends to my advisor and hearing that they, too, are happy and grateful, I became even more certain that I’d made the right choice. It also creates additional bonds between my advisor and me, making it less likely I’d walk away on a technicality. I am now invested in his success.
