FINANCIAL ADVISOR & ESTATE PLANNING ATTORNEY PRIMARY REFERRAL TARGETS

Financial Advisor

Before we were review the Financial Advisor's Primary Referral Targets , I want to cover a key principle that everyone needs to understand regarding the Financial Advisor, Estate Planning Attorney, the Accountant, the Property and Casualty Insurance Agent, and how they work together.

These professionals are always doing business and exchanging referrals , just in their natural flow of business. It’s kind of like how a Mortgage Originator, a Realtor, and a Real Estate Attorney or Escrow Officer do business. It naturally flows with their normal process. Quite simply, if these professionals aren't doing business together, then they aren't doing any business. These 4 professionals are all necessary to any clients for financial plan.

Ok lets start with the Financial Advisor. The Financial Advisor has a ton of referrals to give out. The difficulty that an advisor has is to stay focused on the Primary Referral Targets, as they have opportunities to refer almost every professional in the Core7. The Primary Referral Targets for a Financial Advisor are the Realtor and the Estate Planning Attorney. As we said earlier, there are many others, but the Realtor and Estate Planning Attorney are the professionals that the Financial Advisor needs to stay focused on.

So let's start with the referral to the Realtor. Each and every time a Financial Advisor meets with a client, the clients net worth should be calculated. Real estate , which can fluctuate needs to be factored into this equation.

So each time this presents an opportunity to use the Referral Generator question to generate an introduction to your realtor partner.

"Mr Smith, because we want to have an accurate account of your net worth, we’d like to know the value of your property. How was your relationship with your Realtor who specializes in equity investments?"

Nowadays Financial Advisors have valuation software on their money management systems. Many times this software is not very accurate. What a great opportunity to make the introduction.

There are also so many opportunities when people are moving, buying the first home, or downsizing. This is why you want to be sure to listen to the modules we recommend where we go into many more details regarding the process.

My Core 7 Financial Advisor has been able to refer so much business to our realtor using this process. It's really such an easy hand off.

The second Primary Referral Target for the Financial Advisor is the Estate Planning Attorney. Very few people have a will, health care proxy, or a durable power of attorney. This is an easy hand off from the Financial Advisor that we go into more detail in the Primary Referral Targets Module.

Estate Planning Attorney

Now let's review the Estate Planning Attorney. The Primary Referral Targets for the Estate Planning Attorney are the Realtor and the Financial Advisor. To refer the Realtor, the process for the Estate Planning Attorney is almost identical to the process we use for the Financial Advisor. When doing an estate plan, it is important to know the value of all assets, including real estate. Suggesting an equity assessment and obtaining the value of their real estate can save the client some money as they may not need an official appraisal. This makes it very easy and also cost effective to ask the Referral Generator.

Here is how a Core7 Estate Planning Attorney poses this question-

" Mr. Smith, it's important to know the exact value of your property. How is your relationship with your Realtor who specializes in equity assessments?" it's really that easy. It's an easy question to ask every single time.

We highlight the scripting in the Primary Referral Targets Module of The Core7 Referral System.

The next primary target for the Estate Planning Attorney is the fFnancial Advisor. Now this hand off occurs frequently in the natural flow of their businesses, but in a Core7 group, we want to make sure it happens every time.

Here's the most common way it's done –

" Mr. Smith, we reviewed a lot of the key financial concerns today that are important for you to address. How is your relationship with your Financial Advisor?

It's a seamless introduction. More details are addressed in the Primary Referral Targets Module.

This stuff is really easy. You just have to do it. Send it as an email if you’d like. You are helping your client become more successful, and protecting their overall financial health.