How to Ask for a Referral: Financial Advisors Share Strategies for Attracting and Converting Referrals


On the surface, it should be the simplest conversation you will ever have: “do you know anyone who I can help?” Unfortunately, while referrals are still the gold standard of growing a financial firm, many advisors are either too shy to ask or fail to ask the question in the right way to get results. There is no question that a referral is one of the most effective ways to generate business – and not just in the financial services business. The global research company Nielsen found that 92% of consumers around the world say they trust word-of-mouth or recommendations from friends and family more than any type of advertising. That is up by 17 percent since 2007.

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