Skip to content
Monday, October 26, 2026 · Today’s edition, 6:30 a.m. ETMon, Oct 26 · 6:30 a.m. editionSign inMy Desk 0EditionsSign in

Advisors should swap broad referral asks for specific prompts

A client who can articulate the advisor's value makes introductions easier, Wealth Solutions Report reports.

At a glance

  1. The report's sequence starts with value: ask clients what has been most helpful about the relationship, what problems the firm helped solve and where they felt the greatest impact.
  2. The broad ask — do you know anyone else who might need our help — is easy to put to a client and hard to answer on the spot, and the conversation usually fizzles, the report says.
  3. For the practice, the distinction the report draws is between a referral and an introduction: a name and phone number is not necessarily a relationship opportunity.

Advisors should swap broad referral questions for a value conversation that gives clients the language to describe what the firm solved, according to Wealth Solutions Report's Oct. 26 article.

The report's sequence starts with value: ask clients what has been most helpful about the relationship, what problems the firm helped solve and where they felt the greatest impact. That is not fishing for compliments, per the report; it gets clients clear on the value they perceive and hands them words they can repeat, such as "they helped me navigate the sale of my business" or "they brought clarity to a complicated family situation."

The broad ask — do you know anyone else who might need our help — is easy to put to a client and hard to answer on the spot, and the conversation usually fizzles, the report says. Concrete prompts work better: a family member in a major transition, business partners thinking about what comes next, friends facing a liquidity event.

For the practice, the distinction the report draws is between a referral and an introduction: a name and phone number is not necessarily a relationship opportunity. Firms that do best at this treat referrals as a culture rather than a campaign, beginning with experiences clients find memorable and meaningful, the report says.

Reported by the Practice management desk from Wealth Solutions Report. Published . Corrections

Related

Advisors

Betterment survey: 75% of advised investors use AI

3% of the 1,001 surveyed would consider an AI replacement advisor, Betterment Advisor Solutions found.

Advisors

Multi-owner firms with $100M–$1B in assets draw 48% higher multiple

An FP Transitions author writing in Wealth Solutions Report asks owners whether growth reached margins and whether the firm could run without them.

Advisors

Multi-owner firms with $100M–$1B in assets had 48% higher EBITDA multiple, Wealth Solutions Report column says

The column's author, writing from FP Transitions, urges owners to ask whether growth reached margins and whether the firm could run without them.

Advisors

Zocks AI tools reach LPL's more than 32,000 advisers

Founders Financial Securities adds the tools to its TRU Enterprise OS technology suite for all member partners.

Advisors

Nevis raises $70M Series B with Schwab and EQT backing

Schwab Advisor Services head Jon Beatty says the investment and partnership expand the AI vendor's ecosystem; total funding reaches $110 million.

Wealth Advisor Dailyfrom Private Wealth Daily

Practice management, recruiting, RIA M&A and the platforms advisors run on. Daily at 6:45 a.m. ET.

Free. Every morning. Unsubscribe from any edition in one click.

From other sections