Financial Advisor Tips for Success: How to Win Clients and Influence Their Friends

financial advisor tips for successLearn the top financial advisor tips for success when it comes to referrals – and their friends.

It’s no secret – having a business client refer your skills and service to a friend or family member is a sure sign of a job well done. And while getting referrals is instrumental to increasing your bottom line and having an ongoing stream of clients, did you know that referred clients are more loyal when it comes to different types of clients? It’s true, according to research conducted by Goethe and Wharton University. Not only did their recent study find referral-based clients to be more devoted, but they also offer a 16 percent higher lifetime value. And with people being four more times likely to use a product, business or service when suggested by their friends, gaining referrals should be a top researched financial advisor tip for success.

So how do some of the most successful financial advisors win the company of their client’s friends and family members? They up the game when it comes to service, incentives, and referring others. To learn more on how to win clients and influence their friends, check out these 3 financial advisor tips for success when it comes to referrals:

Be creative with ways to offer unmatched customer service

Many companies today realize the value in offering top-notch client service, greeting people with a smile and going the extra mile to make sure they are satisfied. But in order to get your clients to mention you in the company of others, be sure to share stories of the unique times you went above and beyond.

Perhaps you called around to your contacts during off hours to help a client who was in a business crisis (unrelated to investments) and helped him or her get through a harrowing event. Or, maybe you and your team attended a special event to show support for a customer or his/her cause. Whatever the story may be, share it with enthusiasm during appropriate moments to let clients know you will take the extra step for them and anyone they refer.

Create incentives

Have you considered offering an incentive for clients who refer a family member or friend (giving it whether or not that individual signs on to be a client)? This is one way to increase the likelihood of clients influencing their friends to use your service. Offering gift certificates, a bouquet of flowers or fruit/chocolate, Amazon gift cards, or a night out at your client’s favorite restaurant are some great ideas. All of these are thoughtful gestures that can make your client feel appreciated. Remember to keep gifts under the $100 maximum per year per client, according to the current FINRA 3220 rule.

Refer others

One of the top ways most successful financial advisors bring in referrals is by building a reputation of referring others. You can start a chain reaction by recommending your client’s services to friends and family who are in need of that business/product, and they are more likely to reciprocate the behavior.

Retaining clients via referral is crucial for any business, with today’s technology, “word of mouth” is more visible than ever before. To learn more ways to increase client growth, visit Summit Brokerage Services has been voted the #1 boutique independent broker dealer in the country. Let us show you why! To experience the Summit difference, learn more about our network of independent financial advisors, and begin creating your financial planning documents, visit or call us at (800) 354-5528.


About Summit Brokerage Services, Inc.

Summit Brokerage Services is part of Cetera Financial Group. Summit Brokerage provides a broad range of securities brokerage and investment services to primarily individual investors. Summit Brokerage also sells insurance products, predominantly fixed and variable annuities and life insurance through its subsidiary, SBS Insurance Agency of Florida. Summit Brokerage also provides asset management services through its investment advisor, Summit Financial Group, Inc.


About Cetera Financial Group

Cetera Financial Group® (“Cetera”) is a leading network of independent retail broker-dealers empowering the delivery of objective financial planning advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions.  Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations.  Independent financial advisor support resources offered through Cetera include award-winning wealth management and financial planning and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology.  For more information, visit

*”Cetera Financial Group” refers to the network of retail independent broker-dealers encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, Girard Securities, and Summit Brokerage Services.


All information herein has been prepared solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy.


Content created by Summit Brokerage Services, Inc.

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