Financial Advisor Success Ep 153: Generating More Productive Referrals By Closing The Gap Of Prospects Who Are Referred But Never Call with Dan Allison
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Dec 3, 2019 Dan Allison, founder of Feedback Marketing Group who uses behavioral psychology to help advisors get more referrals, talks about why common referral scripts fail. He outlines five practical areas to close the gap between willing clients and productive introductions. Short, actionable ideas include cross-educating clients, coaching introductions, measuring perceived value, and spotting your best referral sources.
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Why Traditional Referral Scripts Fail
- Referral scripts like “I get paid in two ways” assume clients refer to help the advisor rather than to help someone they care about.
- Dan found referral language is outdated from transactional sales; clients refer to protect loved ones, not to compliment advisors.
Run Interactive Client Feedback Meetings
- Get face-to-face, structured feedback with your top clients every 12–18 months to measure perceived value and referral risk.
- Ask why they chose you, what they value now, and what would make their experience an 8–9-10 so you know who will comfortably refer.
The Referral Gap Is Execution Not Willingness
- Many clients say they referred but used passive methods (giving a name/number), so advisors see far fewer inbound referrals than clients report.
- The core problem is clients are willing but not capable of executing introductions that lead to contact.