Blog 197: How Many Referrals Do You Get A Year?
Updated: May 12, 2022
This is the litmus question to ask yourself when you want to get an idea for what kind of experience your clients receive.
When you are doing it right, the answer is “too many.” When you are doing it wrong …
You “manage wealth” for a fee which is set by the market. You compete on price. You might think you know more than the advisor working nearest to you, but I’m willing to bet you both get paid the same.
Of course, you know the rest. You get paid the same because people think you are the same, and even though this isn’t true, perception is reality. The only way to increase the perceived value that you have is to stand out by being at the very least worth noticing. You have to offer a very specific solution to a very specific market. Finally, you have to connect with people on an emotional level so that their time with you becomes a story they want to share. That’s it.
You have to …
Stop being the same.
Start being interesting.
Make people say “wow.”
I hate to oversimplify, but that is it. There isn’t anything else to figure out.
The problem isn’t that any of these things are hard to do. The problem is you and what you believe. Trust me, if I were your partner, you wouldn’t have these problems because I believe different things than you.
Over the next few blogs, I’m going to help you solve this by giving you some practical advice.
Before the next blog posts, figure this out …
What is the one thing you teach your clients that is priceless? You can figure that out by finishing this sentence they might say to themselves: “Without you (your name), I wouldn’t even know about (the one thing.)”
Remember, if your answer has anything to do with wealth management, you’re not standing out, being interesting or making anyone say ‘Wow’! You’re just being a good (enough) financial advisor. That’s not a wow.
See you Thursday?
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