Forget about asking for referrals. That's the advice of former financial advisor Stephen Wershing, CFP, author of the forthcoming Stop! Asking for Referrals ... and get more than you ever have and founder of the Client Driven Practice, which counsels financial advisors. Here, he tells contributor Michelle Lodge how advisors can reorder their thinking.

1. Why is asking for referrals a turnoff for clients? 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.

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