It makes clients uncomfortable. And it makes financial advisors uncomfortable, too. They are afraid to ask for referrals, even though they are told by their bosses and in every article they read to ask, ask, ask. Being afraid is good, because it's a protective mechanism, like not wanting to touch a hot stove. One source for understanding the psychology behind referrals is a study, called "Anatomy of a Referral," conducted by Advisor Impact, which helps FAs and CPAs grow their business. more »
- Yes, to Another Wirehouse or Regional Firm.
- Yes, Considering Independence.