02.04.26

Keys To Courting CPAs, Attorneys To Boost Referrals

by: Michael S. Fisher

Client referrals remain the primary growth driver for financial advisors, accounting for 54.2% of new clients, according to a Cerulli Associates report. Referrals from “centers of influence” such as attorneys and certified public accountant contribute another 13.9%, underscoring the importance of professional networking. Practice management experts cite joint client meetings, relationship-building through shared interests and reciprocal referrals as the most effective alliance strategies. Cerulli notes that nearly two-thirds of professionals view partnerships with other experts as a highly effective marketing approach. These collaborations help advisors generate higher-quality referrals, expand service offerings, build client trust and support sustainable organic growth when in-house resources are limited.

Read the full article on Think Advisor