In sum, affluent clients are more reticent than ever about providing financial advisors with referrals. For affluent clients, the “social cost” increasingly outweighs any upside for making referrals. At the same time, financial advisors tend not to be very adept at asking their clients for introductions. For most of them, this is a stressful activity that they fear could antagonize the client.
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Where is Figure 5? I see 1-4 and 6, but not 5. "Powerful methodologies for garnering client referrals do indeed exist." So what are they? I know a lot of 'coaches' and others claim to have a system or method for doing this. But I think the comfort level of advisors, as evidenced, by Figure 6 speaks to how effective their claims really are.