I was just hired this week to work with a former professional (European, not NBA) basketball player. He does not have a lot of money, however he referred me to 3 current NBA players and a current college basketball coach of a major NCAA school. All 4 would qualify as Ideal Clients. All of them make between $1-6M / year income. One of the players is a veteran and has earned about $100M over the course of his career. My client is willing to help me meet these people. I spoke with my Accountability Coach about how best to pursue these referrals, and he suggested that I submit this question to you. Any recommendations?

Article ID: 527

Last updated: 20 Nov, 2019

I don't really see any distinction between these referrals and any other referral. Start by doing their Financial Road Maps with their spouses and all of their financial documents. The benefits to them of having a Financial Road Map® are the same as they would be for everyone. If, at the end of the Financial Road Map Interview™, you would like to invite them to become clients do that during Commitment to Hire™. Good luck!

Also listed in

Referral Process/ Misc.

Referral Conversation™ -> Referral Conversation™ Misc.

« I have put together a list of people I would like to meet; a Six...

During the Referral Conversation a client says....we have spoken... »

Others in this category

If a client offers to contact people she has referred me to (she made out notes to 4 potential clients) should I accept? One client offered (after writing these notes) to contact each person by phone or email and tell them about me. What works best in this situation?

The Referral Conversations™ imply that my current Ideal (or near Ideal) clients have previously received a copy of the Values-Based Financial Planning™ book. None of them have.

I had a client who actually gave me 4 names but we ran out of time to write notes so I sent her home with the sticky notes to write on and mail back to me. She didn't follow through and at our Implementation Meeting she gave the sticky notes back to me and said she was too nervous and petrified to write the notes and tell her friends the book would be coming. I was caught completely off guard and stumbled through a response to her and left it at that. This lady was nearly in tears when I originally asked about the benefits of working together and when she initially thought of the 4 names. I know she appreciates the work we're doing but she says that she doesn't like to talk about this kind of stuff with others. She felt it is harder than bringing up religion.

Had a Referral Conversation™ and the client provided great feedback on the process, the positive impact of having their Financial Road Map® etc. I addressed the question … “They already have an advisor”, I clarified this is not a solicitation, it is a gift and I explained the introduction process in detail. As I start to finish I asked if they have any questions about the process, they responded “No, it is clear." Again when I asked the question who’s first, they responded, “We don’t have a list of people to give you at the moment. We will keep it in mind; we don’t have a large circle of acquaintances.” What would you say?

For some clients the Referral Conversation™ at the end of the Implementation Meeting has been a long time ago and/or not executed well at that time. The result is that they have not heard or do not remember why providing referrals are a great win-win-win opportunity. Since the following referral conversations builds on the first one, is it OK to repeat (once) part of this initial conversation after a Progress Meeting to help the client ‘get it’?

» More articles