The Primary Referral Targets for the Financial Advisor

Now before we were review the Financial Professional’s primary referral targets, I want to cover a key principle that everyone needs to understand regarding the Financial Advisor, Estate Planning Attorney, the Accountant, the Property and Casualty Insurance Agent, and how they work together.

These professionals are always doing business and exchanging referrals , just in their natural flow of business. It’s kind of like how a Mortgage Originator, a Realtor, and a Real Estate Attorney or Escrow Officer do business. It naturally flows with their normal process. Quite simply, if these professionals aren’t doing business together, then they aren’t doing any business. These 4 professionals are all necessary to any clients for financial plan.

Ok lets start with the Financial Advisor. The Financial Advisor has a ton of referrals to give out. The difficulty that a Financial Advisor has, is to stay focused on their primary referral targets, as they have opportunities to refer almost every professional in the Core7.

The primary referral targets for a Financial Advisor are the Realtor and the Estate Planning Attorney.

As we said earlier, there are many others, but the Realtor and Estate Planning Attorney are the professionals that the Financial Advisor needs to stay focused on.

So let’s start with the referral to the Realtor.

Each and every time a Financial Advisor meets with a client, the clients net worth should be calculated. Real estate , which can fluctuate needs to be factored into this equation.

So each time this presents an opportunity to use the referral generator question to generate an introduction to your realtor partner.

“Mr Smith, because we want to have an accurate account of your net worth, we’d like to know the value of your property. How was your relationship with your Realtor who specializes in equity investments?”

Nowadays Financial Advisors have valuation software on their money management systems. Many times this software is not very accurate. What a great opportunity to make the introduction.

There are also so many opportunities when people are moving, buying their first home, or downsizing. Be sure to listen to the modules we recommend in The Core7 Referral System Course, where we go into much more detail regarding the process.

My Core 7 Financial Advisor has been able to refer so much business to our realtor using this process. It’s really such an easy handoff.

The second primary referral target for the Financial Advisor is the Estate Planning Attorney.

Very few people have a will, health care proxy, or a durable power of attorney. This is an easy hand off from the Financial Advisor. We do a deep dive regarding this handoff in the Primary Referral Targets Module located in the Core7 referral System Course.

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