Maximising Referrals from Accountants: Best Practices for Financial Advisers
Generating referrals from accountants can be a valuable source of new business for financial advisers in the UK. Here are some best practices to help you establish and maintain relationships with accountants and secure referrals:
1 - Offer valuable services
Accountants are more likely to refer clients to you if they see the value you can bring to their clients. Offer specialised services, such as tax planning or estate planning, that complement their own offerings.
2 - Build trust
Building trust with accountants is key to securing referrals. Establish yourself as a knowledgeable and trustworthy financial adviser by keeping them informed of changes in regulations and market trends, and by delivering on your promises.
3 - Attend networking events
Networking is a great way to build relationships with accountants. Attend local and industry-specific events and make connections with attendees. Offer to follow up with them after the event to continue the conversation.
4 - Provide educational resources
Share educational materials, such as reports, articles, and webinars, with accountants to help them stay informed on financial topics relevant to their clients. This can also help to establish you as an expert in your field.
5 - Partner with accountants
Consider partnering with accountants on joint marketing initiatives, such as seminars or workshops, to educate clients on financial topics. This can help to build trust and establish you as a trusted resource for their clients.
6 - Offer incentives
Consider offering incentives, such as discounts or referral fees, to accountants who refer clients to you. This can be a great way to encourage them to make more referrals and to reward them for their efforts.
7 - Keep in touch
Regular communication is key to maintaining relationships with accountants and securing referrals. Stay in touch with them through email, phone calls, or face-to-face meetings to discuss financial topics and to offer your services.
Use a CRM system to manage referral relationships by:
- Storing and organising contact information of professional connections
- Keeping track of interactions and follow-up activities
- Managing task reminders and scheduled events
- Monitoring and analysing relationship-building efforts
- Automating email and communication templates for more effective outreach
- Providing insights into personal and professional networks
In conclusion, generating referrals from accountants can be a valuable source of new business for financial advisers. By offering valuable services, building trust, attending networking events, providing educational resources, partnering with accountants, offering incentives, and keeping in touch, you can establish and maintain relationships with accountants and secure more referrals.
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