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Active investment management’s weekly magazine for fee-based advisors

Aaron Tice • Elk River, MN
Cirrus Retirement Solutions, Ltd. • Regulus Advisors

One way that I have been able to successfully replicate my client referral process is by being an advocate for other professionals’ businesses. Our firm has several insurance professionals, mortgage professionals, and CPAs that I personally recommend to my clients after they have gone through a proper vetting process and I am already using them for other clients. If I have been happy with the service and professionalism that they have displayed, then I become an advocate for them. Naturally, they follow suit, and I become part of the discussion with their clients.

I like to set up occasional meetings with these professionals so we can discuss our businesses and to inform them of any new or additional services that I offer that may be of use to their clients. Staying in contact with these professionals helps to remind them that I am always available for their clients’ financial and investment-planning needs.

Another client referral success has come from existing clients that seem to be the “alpha” within their peer group. I have gathered small groups of clients from a single referral after I am able to get their peer “alpha” to be on board with our firm and our process. This usually results in some sort of social event for their small group of peers, such as a wine-tasting party or a get-together after work. More times than not, some of the group members may follow the “alpha” individual’s lead and ask to have an introductory session with our firm.

I also remind clients while having periodic reviews that they shouldn’t keep our firm a secret. I provide them with some referral “packets” to keep on hand for any of their friends, family, or co-workers that may need financial-planning assistance. Continually reminding current clients about providing referrals in an unobtrusive way has been a key to our new client referrals. That goes hand in hand with staying in contact with our current clients on a regular basis.

I believe our firm is far more likely to gain a new client referral if we are in constant contact with our clients, proactive in addressing their needs, and very responsive to any changes in their life or financial circumstances.

  1. Become an advocate for third-party professionals, and they will likely do the same for you.
  2. Meet with other professionals and your clients on a regular basis to stay top of mind.
  3. Develop a relationship with the “alpha” within a prospective client peer group.

Disclosure: Securities offered through Regulus Advisors, LLC. Member FINRA/SIPC. Investment advisory services offered through Regal Investment Advisors, LLC, an SEC registered investment advisor. Regulus Advisors and Regal Investment Advisors are affiliated entities. Cirrus Retirement Solutions is independent of Regulus Advisors and Regal Investment Advisors.

Photography by Marla Klein

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