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.