Where do you start when you want to generate more referrals for your financial planning firm?

Look to your current clients.

Client retention is one of the most important parts of your practice, but possibly the most overlooked.

We recognized this and decided to do something about it.  So we tapped into our community of top advisors to learn the top 4 ways to generate more referrals and discovered the below…

1. Create a positive client experience.

From educational seminars to in-office meetings, these are your opportunities to show off your impeccable organization and why you’re unique. Your client is seeking solutions, so it’s important to provide answers and high-quality customer service. As the positive experiences pile up, your clients will be much more likely to share their experience with a friend or family member. After all, Rome wasn’t built in a day.

Ask yourself: Are you creating a flawless experience for your clients?

2. Always be communicating.

When it comes to working with clients, the saying “out of sight, out of mind” doesn’t apply. This age-old saying is a reality many financial professionals have, which is unfortunate with how easy it is to stay in touch and add value to everyday conversations.

If you’re not taking the time to regularly reach out to your existing clients, you’re just plain doing it wrong. Thanks to social media, email, Zoom, and the dozens of other ways you can chat with clients today, you can easily and efficiently keep in touch with your entire book of business, all year long. But, quality content is key! So don’t forget to make your message relevant, informative, and problem-solving.

Ask yourself: Would your client pass along your emails to friends?

Related: 6 Questions That Can Help You Maximize Profitability

3. Host unique and fun client events.

Client events don’t have to be flashy affairs, but you also need to get creative! Think of client events as a way to thank your clients for their business and strengthen your personal relationship, with some fun mixed in.

If you can make the event appealing, engaging, and market it well to your book of business, you can then encourage your clients to bring friends and relatives. This can be a great way to bring in a steady stream of referral opportunities.

Ask yourself: Are your client events well communicated and engaging?

4. Establish referral partners.

Strategic referral alliances benefit everyone involved. Businesses benefit because they’re helped to attract better clients, and clients benefit by working with a tight-knit group of professionals.

The challenge lies in finding good referral partners and developing the relationship so that both parties come out on top.

As part of the ACM community, we believe in the power of sharing best practices with each other. Together we can do more.


Investment advisory services are offered through Alphastar Capital Management, LLC, a SEC Registered Investment Adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser or investment adviser representative has attained a particular level of skill or ability. Additional information about Alphastar Capital Management, LLC is also available on the SEC’s website at www.adviserinfo.sec.gov.