Advisors often ask, “Is it possible to build my business that runs by referral only?”
The answer is, yes!
However, not every advisory team has been able to create a “by referral only” business where the quantity and the quality of clients have been exactly the right fit.
Are you getting enough in-segment clients through referrals and introductions?
In this episode, Bill Cates speaks with Diana DeFrate CFP®, CLU®, chief executive officer and founder, and Katriina Paavola, CFP®, founder at DeFrate & Paavola, LLC. Diana and Katriina share how their successful business operates by referral only, sharing how they do so WITHOUT asking for referrals.
Diana and Katriina discuss:
- How the changes in their target market have affected their business and caused them to make the decision to become “by referral only.”
- The marketing strategies they tried that didn’t work, but led them to what does work.
- Why you should have a ‘wow master’ on your business team to build client relationships
- How they get referrals WITHOUT asking.
Connect With Diana DeFrate and Katriina Paavola:
Connect With Bill Cates:
- (301) 497-2200
- Referral Coach Homepage
- Hire Bill for Coaching
- Enroll in The Cates Academy™
About Our Guest:
Diana DeFrate: A former financial executive in media, Diana is a Certified Financial Planner certificate (CFP®), Chartered Life Underwriter (CLU®), CPA, and the second in a family legacy of wealth managers and financial planners. An avid wine enthusiast, Diana is a WSET Advanced Certificate holder, director and co-founder of the Geshtin wine club.
Katriina Paavola: A Certified Financial Planner (CFP®), MBA, and former media professional, Katriina is a strategic director and financial consultant with specialties in retirement planning and investment management. A native of Finland, Katriina studied international business in London before coming to the U.S. as an executive strategic planner.