I have a handful of advisors that swear by the following method to create referrals like clock-work every month.
It’s a client birthday or retirement party. They just choose one client a month and throw them a little luncheon. The purpose of the monthly luncheon is to host a get together to honor a favorite client and a small group of their friends.
The reason it works is that on average you’ll get in front of 10 people that “look” just like your favorite client each month. That’s 120 over the year. The advisors doing these luncheons end up doing business with 15 to 20 of these friends. That’s not a bad way to grow your practice! These guys tell me they bring in from $1.5 million to $2.5 million in new money a year using these low-key, fun events. Not a huge amount, but considering the low cost and effort… absolutely worth doing!
If you would like a free copy of a step-by-step manual on how to easily do these little luncheons please CLICK HERE and let me know where to email you a copy to, courtesy of 5Q Group.