Knowing how to generate a continuous flow of high-quality referrals is among the most important marketing challenges any advisor faces. The results of a 2012 survey of financial advisors by research firm CEG Worldwide offer some interesting insights on the matter:
The top five sources of professional referrals:
- Accountants: 68 percent
- Estate planning attorneys: 61 percent
- Life insurance specialists: 35 percent
- Mortgage brokers: 29 percent
- Personal property and casualty agents: 12 percent
What were the sources of all referrals?
- Professional connections: 54.2 percent
- Clients: 30.1 percent
- Seminars/conferences: 13.5 percent
Number of client referrals received each year (by advisor income group):
Moderate-income advisors:
- 26.7 percent received 3-5 referrals
- 12.3 percent received 6+ referrals
Middle-income advisors:
- 44.0 percent received 3-5 referrals
- 11.2 percent received 6+ referrals
High-income advisors:
- 23.1 percent received 3-5 referrals
- 29.2 percent received 6+ referrals
How many clients did respondents have?
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.