Why Don't Advisors Drive More Referrals From Their Clients And What To Do About It

The Magellan Network Podcast

Hi everyone, and welcome to The Magellan Network Show. Here we are in mid-July 2024, with the heat bearing down on most of the country. It's been a while since we've discussed this, so I wanted to take some time today to talk about referrals and introductions. When speaking to advisors, I ask a simple question: "What's the best way to get a new client?" And the most common answer was an introduction from a very satisfied client to someone they know. Referrals and introductions lead to shorter sales cycles and higher trust, making them an efficient way to attract new clients. While most advisors agree with this statement, they find it difficult to answer the follow-up question: how much time, energy, and focus do you dedicate to making this happen? In this episode, I discussed the following: (06:29) Three reasons why advisor don’t optimize their referrals and introductions game (10:44) Why referrals and introductions should not be about you (12:53) The recipe for generating a name (13:54) An elegant way to get referrals and introductions (19:41) Benefits of educational webinars and live events ___ The Magellan Academy & Network The rules and tools for success in the financial services industry are about to change radically. I have spent over 25 years coaching only financial advisors. In that time, I have personally conducted over 50,000 individual coaching sessions. I have built a profound knowledge base of what it takes to achieve lifelong success in business and life. In my career, I have transformed 1,000’s of advisors (below are videos and written testimonials by many of them). Many of you probably paid thousands of dollars to various coaching programs with very mixed results. In most cases, it’s about the coach, their ego, and their money. They base their program on “practice management” or “marketing”. What they all fail to do is help you make that “mindset” shift that must happen for you to realize your dreams and vision. I am going to coach you, teach you, inspire you, and train you all on your mobile device every business day. You are going to get better at business development, practice management, personal development, and your vision. Here is what you are going to get from me each month: - A 5-10 minute morning coach video each business day. - 3 training videos of 20-30 minutes each. This will be a deep dive into the four areas I mentioned above. - A live group coaching session where you and I can interact and work together. Here is what you can do each month: - Post a question to me and I will answer it. - Collaborate and associate with like-minded advisors. - Invite other great advisors into the network. Your Bottom Line: Here is the deal. I am not going to ask you for a credit card. As I said before, coaching is personality driven. You might not like my style or tactics. So here is my offer to you. Complete the short form below. You will receive an email with detailed instructions on how to join the network for the next 14 days. I will not ask for compensation of any kind during that 14 days. If after experiencing my work for 30 days you believe that I can help you, here is the deal. To remain in Magellan Network and have access to Magellan Academy, your daily investment in yourself will only be about the price of a Latte these days. One more thing, it’s a month-to-month deal. I’m not going to lock you into anything. Take action now and complete the short form below and I look forward to welcoming you personally inside the Magellan Network. ► Subscribe to our channel here: https://www.youtube.com/user/CoachJoeLukacs?sub_confirmation=1 Facebook: https://www.facebook.com/coachjoe.guru/ Instagram: https://www.instagram.com/coach_joe_guru/ LinkedIn: https://www.linkedin.com/in/coachjoelukacs/ Website: https://www.magellannetwork.net/ Soundcloud: https://soundcloud.com/themagellannetwork Twitter: https://twitter.com/CoachJoeLukacs__