Advisors are losing millions of dollars in revenue
because they don't have a consistent and disciplined client referral
strategy, according
to a new study Published by Horsesmouth LLC, an online business development service
for advisors, the study included an online survey of 1,600 advisors
with an average of 13 years experience.
It found that 80% of advisors are unhappy with their
referral strategy and desire more focus and consistency in how they
follow-up on referrals.
"As advisors look ahead to some of the greatest new
business opportunities of the future-IRA rollovers and retirement
income planning for boomers-a solid, disciplined referral strategy will
be the primary business growth driver for many advisors looking for new
clients and new assets to manage," says William T. Nicklin, CEO of
Horsesmouth.