Can you go through what a compelling Referral Conversation™ sounds like?

Article ID: 18

Last updated: 20 Nov, 2019

It’s very much a function of your genuine belief that it’s in their best interest to refer their friends to you. Follow the scripts as they are written. Just like everything we teach you to do, you record your conversation and listen to those recordings so you can hear for yourself in the real world. Other than that, you will get lots of practice at any Academy 2 and have the opportunity to connect with other advisors who are ahead of you on this same learning curve.

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At last Progress Meeting I asked for introductions and this was the response. "We have approached our friends and everybody is in the frame of mind they have their things in order, they have their ducks in a row and don't want to talk about it?" I responded - this is about sharing the positive experience that you have had with Values-Based Financial Planning™( security, peace of mind) and allowing others to have a Financial Road Map® to guide their decisions. Bill how would you have responded?

Below is a correspondence between a client (Rafal) and the advisor. After Rafal had his Financial Road Map® and Action Plan completed he wanted to refer his friend “Slawek” . He wrote a note on the cover of the Values Based Financial Planning™ book, we were just waiting for Rafal to provide his address and let us know it was ok to send the book because he had not spoken to his friend. We received the response that he did not want to go ahead with it- Please read the correspondence below. Coincidentally, this was the second time this week that this has happened. We are hoping for some feedback to let us know how to handle this more effectively. Client: Hi, I did talk to Sławek, but unfortunately he is not interested in getting any information related to financial services. He is already working with a financial planner that he is quite happy with. Regards, Rafal Trusted Advisor: Hi Rafal, It is perfectly ok that Slawek has a current Financial Planner. To clarify my offer was not to become his Financial Planner, rather the offer was to give him the following gifts: 1. Values Based Financial Planning™ Book 2. 8 issues of our Values Based Quality of Life Newsletters™ 3. Complementary 20 minute Phone Consultation 4. Create his Financial Road Map® As we discussed, I believe everyone deserves to have a Financial Road Map® and know that Values Based Financial Planning™ exists. The purpose of the gifts is to provide value to Slawek and share your experience when we created your Financial Road Map® The benefits you mentioned were “…Very important, make better decisions, more focused, more relaxed about the future, start exercising, keeping healthy.” It sounds like Slawek thinks the offer is to be his advisor. We are providing the gifts to share some ideas that could favorably impact his quality of life regardless of who his advisor is. He mentioned he is happy, my job is to make people happier. Sincerely, Trusted Advisor Client: Hi, Yes, I understand what you have to offer. Sławek is simply not open to this and there is not much that I can do. Regards, Rafal

Can I get guidance on what my Ideal Clients should write on the Values-Based Financial Planning™ Book that I will be sending to their referrals? I would like to have this note be more personal.

Bill, you talked about meeting with the Top Realtors in the area. I have been calling them and starting the conversation with the following: Hi_________, my name is John Smith. I am rather new to my area, and I am looking to expand my networking relationships with experts in the local region. As I was looking into the area of _________, your name keeps rising to the top. So I thought I would give you a call and see if you would like to have coffee and I could learn more about your business, tell you a little about mine, and see how we could help push each other forward to greater success. They have all taken it like I was trying to sell them something, even after I explain that I am not selling anything and just want to get to know them and how they have become so successful in their area of expertise. Please provide feedback on the script I have been using and help me wordsmith it so that I am starting the conversation or voicemail with the proper tone.

I am a little frustrated at the present with the referral conversation in the Progress Meetings. In most of the referral conversations I am getting good emotional responses to the work we are doing and clients have noticed the change from the old service. When we get to the referral conversation, however, I am finding it difficult to get the clients to introduce me the people they know. I have used a lot of the responses you have coached recently and none seem to be working. (It could be that I am not delivering this right). However clients seem to understand what we are doing, (i.e. not soliciting) but still will not introduce me to anyone. It seems to be their view that they are all around the same age and all sorted out and have been with advisers for a very long time. I am coming to the conclusion that, given that my client base is mainly post-60 years of age and not working, maybe this is the way they think. I know that, in your eyes, they would not be Ideal Clients anymore but I am now concentrating more on the self-referral process which is a harder way to go but better than me continuing this process with my clients. I am very interested in your comments.

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