Financial Advisor Success Ep 447: Getting A Healthy Flow Of New Clients From Centers Of Influence By Addressing The Referral Risk They Fear The Most with Dan Allison
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Jul 22, 2025 Dan Allison, owner of The Exchange and a marketing expert for financial advisors, dives into the crucial dynamics of securing referrals from Centers of Influence (COIs) like accountants and attorneys. He outlines how COIs often hesitate due to reputation concerns and offers strategies to build trust over time. Listeners will learn effective networking tips, the importance of personalized gratitude, and how ongoing communication fosters fruitful partnerships. Allison also discusses identifying the right COIs and rethinking success to focus on relationships over mere wealth.
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Risk Dominates COI Referral Fear
- Risk is the top fear COIs have when referring clients to financial advisors.
- They worry about their reputation if the referral leads to a bad outcome.
Begin COI Meetings with Questions
- Start COI meetings by asking about their background and client focus before sharing your value.
- This approach helps detect their risk perception and builds a foundation of trust.
Use Client Feedback to Reinforce COI Trust
- After a referral meeting, ask the prospect if the meeting was helpful and request they share that with the COI.
- This feedback reduces COI's perceived risk and encourages more referrals.