Your ability to ask for referrals – to get more new clients through personal introductions – has to start with your mindset. This means that before you ask for referrals and introductions you must first eliminate any limiting beliefs and mistaken assumptions. Without the right thinking and perspective, you’ll be unlikely to use the methods proven to work.
Most previous episodes of Top Advisor Podcast involve Bill interviewing a top advisor or top consultant – to bring forth their brilliance for you to put into action.
In this episode, Bill’s conversation is with YOU – designed to flip the switch in your brain so you can begin to ask for referrals without begging or pushing.
No, you can’t answer through the podcast, but we guarantee this episode will get you talking to yourself about your own current perspective around referrals and personal introductions.
In this conversation with you, Bill discusses:
The 4 strategies that allow you to ask for referrals and create introductions without looking like “That Cheesy Referral Guy.”
The limiting beliefs and mistaken assumptions that hinder many advisors from creating a highly successful referral-only business.
An example of how one advisor achieved phenomenal growth once a switch inside his brain flipped into the right way of thinking.
6% of retirees say that health is more important than wealth.
Are you helping your clients (regardless of their age) with their most important asset – their health?
There are two ways you can be of value to your clients in terms of holistic financial planning:
Be a purveyor of great information in this area. Your clients will appreciate this added value.
Be a role model of someone who is – as our featured guest would say – wellthy.
In this episode, Referral Coach Bill Cates interviews Stevyn Guinnip, “the girl named Stevyn”, Founder & CEO of Grow Wellthy about holistic financial planning. Bill and Stevyn discuss how many financial advisors are creating value and building stronger relationships with their clients by helping them with both their financial wellness and physical wellness – guiding their clients to become wealthy AND wellthy.
Stevyn discusses with Bill:
What role wellness plays in holistic financial planning.
How advisors are helping their clients turn their health into their most valuable asset.
The two ways she helps financial advisors, and their clients improve their state of wellness.
What steps advisors can take to protect their own health.
How advisors can comfortably offer health-related advice to their clients AND the impact of doing so.
How you can offer “Wellth Webinars” to your prospects and clients.
Stevyn Guinnip, MS, CWC is the founder & CEO of Grow Wellthy™ and the creator of the Wellth Academy™. She grew up a financial advisor’s daughter & enjoyed 20 years as an exercise physiologist and certified wellness coach in the US & Australia. Now Stevyn has blended the world of finance & fitness, helping financial professionals & their clients earn back their health so they can retire ‘wellthy.’
What if you could net over $1M per year working 30-hour weeks and taking 13 full weeks off every year?
What would that mean to you? More time with family and friends? More time on the golf course, boating, fishing, cooking, traveling, and whatever the heck you feel like doing?
And what if you could build a successful referral-only practice tapping into a goldmine of referrals from certain types of estate planning attorneys? What would that mean for your business and how would that feel?
Is this achievable? Well… Yes, it is!
In this episode, Bill Cates interviews Anat Yoder, CFP®, CRPS®, Principal and Wealth Manager at Yoder Wealth Management. Anat explains how she and her business partner (husband Michael Yoder), have been able to significantly reduce the amount of time they spend working so they can have a healthy work-life balance.
Bill and Anat discuss:
What motivated her (and her husband) to have a healthy work-life balance by working just 30 hours per week and taking 13 weeks off each year
Anat’s process for releasing clients into the loving care of another advisor to free up her time to serve wealthier clients.
How she cracked the code for referrals from estate planning attorneys to reach wealthy clients.
Her unique approach to getting to know her client’s children BUT NOT working with them.
Anat N. Yoder began her professional career in structural engineering, earning her PE license and working on several notable projects, including the Bay Bridge. She became a financial advisor in 2004 in order to direct her problem-solving skills toward work that was more personally meaningful for her. She is active in the community and serves on the board of a local non-profit organization. Anat has a BS in civil engineering, as well as an MS in structural engineering, both from UC Berkeley. She is a Certified Financial Planner™ (CFP) and a Chartered Retirement Plans Specialist (CRPS).
Sandro Forte serves as a financial advisor to the Royal Family in the United Kingdom. But that’s not why we interviewed him.
We interviewed Sandro because of the insight and wisdom he brings to the client acquisition process.
In this episode of The Top Advisor Podcast, Referral Coach Bill Cates sits down with Sandro Forte, CEO of Forte Financial Group, a financial planning firm in the U.K.
Sandro is all about using the right processes AND the right words to move prospects along to becoming clients.
Bill and Sandro discuss:
Why you should schedule meetings with your prospects and clients and not appointments.
The importance of not positioning yourself as subservient with prospects and clients.
The 2 most critical rules to follow when approaching prospects in your client acquisition process.
His 3-step approach to dealing with objection.
The mindset needed to create sustained success and profitability.
How to maximize your productivity and profitability over time.
Sandro Forte is a dedicated, passionate and highly qualified personal success coach. As one of the most influential and sought-after speakers in the world, Sandro has built up an extensive network of contacts and proven himself to be a popular hit with people from all walks of life. Having spoken to more than 1 million conference and session attendees across 86 countries, Sandro has been all over the world providing his message of empowerment and self-improvement.
As one of the few speakers to hold the prestigious titles of Certified Speaking Professional Fellow of the Professional Speakers Association, and a Global Speaking Fellow, Sandro is well known for not just being able to motivate and inspire but to create positive outcomes for all the clients he works with. All of his solutions and outcomes are tailored, focusing on the unique needs of the individual to guarantee something actionable.
With such an extensive list of clients and a proven success rate, it’s not surprising that all the speaking work he does is actively endorsed by the clients from his past projects.
Sandro is a man who has come from a challenging background but has used that as a way to thrive. His unending optimism and enthusiasm are some of the things that his clients love about him because even in the face of challenges, he doesn’t give up.
How would you like to turn high net worth prospects into clients in the very first meeting, instead of chasing them or wondering if they are going to come back for a second appointment?
I think it’s safe to say that your answer to the above question is “yes” – as long as that prospect is a good match for your business.
First, they have to feel they can trust you. (You’re probably pretty good at doing this already).
Second, if there is no triggering eventgoing on in their life, you’ll need to create one. You want to uncover at least one critical issue that will compel them to take action to find resolution.
In this episode, Referral Coach Bill Cates sits down with Erin Botsford, CFP, Founder & CEO of The Advisor Authority, and author of Seven Figure Firm.
In this lively interview between Bill and Erin, you will discover:
Erin’s “disturbing track” strategy to win a new client on the first appointment.
How Erin started her financial advisory firm without knowing anyone in the industry
The “out to lunch bunch” strategy and how it can help you get introduced to high net worth prospects.
How and why using stories is more important than presenting information.
How you can get a complimentary copy of Erin’s book, Seven Figure Firm.
Erin Botsford started in the financial industry in 1989 at a time when there were practically no mentors. But after spending over 30 years in the financial services business and achieving at the highest levels (Barron’s Top 100 in all categories – Independent, Advisor, and Women Advisor), Erin sold her business in 2017 in a successful exit, to found The Advisor Authority to help financial advisors as a way to give back to the industry that allowed her to grow.
About Our Guest:Dr. Maribeth Kuzmeski is the president of RedZone Marketing, an award-winning marketing consulting firm with clients throughout the financial services industry. RedZone Marketing’s primary focus is designing innovative marketing and business growth initiatives for financial service practices.
Maribeth has written nine books on marketing and is also a professor at Oklahoma State University teaching marketing, personal branding and name, image, and likeness for student athletes.
She has a bachelor’s degree from New House School of Public Communications, Syracuse University, an MBA from George Washington University. And a PhD in business administration from Oklahoma State University.
Every financial advisor wants referrals without asking – as long as those prospects are an ideal fit for their business.
How do you get these qualified unsolicited referrals? And what’s the difference between pursuing unsolicited referrals and actually asking for referrals?
In Part 1 of this 2-part interview, Referral Coach Bill Cates CSP, CPAE, interviews Maribeth Kuzmeski, PhD., President of RedZone Marketing, author, and marketing professor at Oklahoma State University. Maribeth’s insights are grounded in her research of financial advisors across The United States.
Find out what mistake’s advisors are making and why unsolicited referrals are the best way to get new clients.
Maribeth Kuzmeski and Bill Cates discuss:
Why unsolicited referrals are the number one marketing strategy that brings in new clients for most advisors.
The growth-limiting mistakes that most advisors make with their marketing.
Which social media platforms are producing results for advisors.
One critical element you need to consider about your online presence.
About Our Guest: Dr. Maribeth Kuzmeski is the president of RedZone Marketing, an award-winning marketing consulting firm with clients throughout the financial services industry. RedZone Marketing’s primary focus is designing innovative marketing and business growth initiatives for financial service practices. Maribeth has written nine books on marketing and is also a professor at Oklahoma State University teaching marketing, personal branding and name, image, and likeness for student athletes.
She has a bachelor’s degree from New House School of Public Communications, Syracuse University, an MBA from George Washington University. And a PhD in business administration from Oklahoma State University.
When it comes to building a referral only practice, you want to attract prospects and build client relationships by making two intertwined connections. You want to make a value connection and you want to make a personal connection. Both are necessary, though the mix of the two may vary from client to client.
In this episode, Referral Coach Bill Cates is joined by Tyson Vines, Founder & Financial Advisor of V Financial Partners, to talk about his process for attracting and winning new clients and building highly referable relationships with them.
Tyson and Bill discuss:
Tyson’s commitment to a referral only practice – and how he nets an average of 3.5 referral prospects per week!
Two tragic events of Tyson’s life, and how he connects these stories to his client acquisition process.
His “secret sauce” for creating advocates that provide great unsolicited referrals.
Tyson’s mission to change the wealth management industry.
The core values that guide his referral only business.
How he tackles the “dreaded” conversation around fees & commissions.
After a strong Wall Street career helping sovereign wealth funds, pensions and private banks globally, Tyson Vines wanted to own a financial planning practice. He founded V Financial Partners in 2012 with the mission to care for people and their businesses through personal finance and increase financial literacy in an enjoyable, open and honest way.
Tyson’s father passed away when he was in college. Caring for his widowed mother was the top priority. The moment they met a financial adviser, emotions calmed, and comfort flowed with a sound financial plan of investments and insurance solutions.
Tyson believes everyone deserves an institutional Wall Street experience. Leaning on his global investment experience navigating the world’s largest investors through the Great Recession, V Financial Partners aims to deliver the same heightened experience to everyone. V Financial Partners offers stability and confidence to their clients.
For six years, prior to establishing his practice, Tyson was a Global Consultant Relationship Manager with Victory Capital Management, an investment management subsidiary of KeyCorp. He also worked as a sell-side equity and investment banking associate with KeyBanc Capital Markets.
There are three important marketing strategies that every top advisor should consider using in their effort to attract more Right-Fit Clients:
A well-defined, profitable target market.
A financial advisor website focused on client acquisition (not just a “digital brochure.”)
A podcast that creates credibility in your target market.
In this episode, Referral Coach Bill Cates sits down with Jeremy Keil, founder of Keil Financial Partners, to discuss how Jeremy employs the above 3 strategies, and how they work together to create an impact greater than the sum of its parts.
Jeremy and Bill discuss:
How focusing solely on the category of retirement planning has made a big difference for his clients and the growth of his business.
How Jeremy built and utilizes his financial advisor website to turn visitors into clients.
How working with his target market (clients employed by publicly traded companies like Harley Davidson and We Energies) translates into his unique value proposition.
Why he started his podcast Retirement Revealed and the impact it has made on his business.
How by applying this triple threat marketing strategy, his referrals have significantly increased.
Jeremy Keil is the founder and financial advisor at Keil Financial Partners and the host of the Retirement Revealed podcast. He works to simplify complex financial decisions so you can make smarter retirement, investment, and tax planning decisions.
Jeremy loves helping people learn more about and feeling more confident about their money.
After graduating from college, Jeremy started out by selling suits at Jos A. Bank and working on different political campaigns.
While serving as an adjunct professor at Concordia University Wisconsin (Cedarburg), and Wisconsin Lutheran College (Milwaukee), Jeremy learned how to take complex financial topics and explain them in a way that anyone could understand.
If he could keep college seniors awake during 8 a.m. Friday classes about corporate finance, you can be sure that while working with Jeremy you’ll know more about, feel better about, and make better decisions about your money.
According to Forbes, “Millennials will hold five times as much wealth as they have today, and the group is anticipated to inherit over $68 trillion from their Baby Boomer parents by the year 2030. This will represent one of the greatest wealth transfers in the modern times.”
There are already approximately 618,000 millennial millionaires. Millennial millionaires make up approximately 2% of the total U.S. millionaire population. The majority of millennial millionaires have a net worth that ranges from $1 million to $2.49 million and fall between the ages of 34 and 37.
Due to inheritances, trusts and estate planning, there will be a steady flow of Millennials getting very rich soon.
The reality is that many millennials and younger clients with huge upside want to work with financial advisors, just not in the traditional way. And, you don’t necessarily have to hire younger associates to attract these younger clients.
In this episode, Referral Coach Bill Cates is joined by Ivory Johnson, CFP®, ChFC, and founder of Delancey Wealth Management. Ivory and Bill explain the importance of attracting a younger clientele, how to target millennials by adjusting your approach, and how this will benefit your business.
Bill and Ivory discuss:
Why Ivory believes it’s important to work with younger clients – especially the adult children of his older clients.
How to target millennials as advisory clients.
2 important questions Ivory asks every client in order to become more relevant and helpful to them.
How Ivory deals with younger clients and the fun part of working with them.
Why advisors need to have a social media presence to attract millennials.
Ivory’s optimism for technology and digital assets.
With over two decades of helping families and small businesses create and protect wealth, Ivory Johnson has seen the benefits of developing a financial game-plan. Ivory combines his extensive professional and academic experiences to diagnose an increasingly complicated world. He believes that if you can’t explain it, you don’t understand it, choosing the colloquial in favor of formal.
Ivory has a B.S. in Finance from Penn State University, is a Certified Financial Planner (CFP®), a Chartered Financial Consultant (ChFC) and has been recognized by the Global Blockchain Association and RIA DAC for his proficiency in blockchain technology and digital assets. He is also a member of the CNBC Financial Advisor Council made up of 20 high-level financial professionals, and regularly contributes articles to CNBC.com, and has been quoted in Investment News, the Wall Street Journal, Black Enterprise, Money Magazine, Kiplinger’s and other publications.
