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Volatile Market, Looming Recession and Inflation…
This is NOT a time to be quiet about referrals and introductions.
When the market feels like a roller coaster—volatile stocks, whispers of a bear market, inflation, and economic uncertainty—some advisors go quiet. Big mistake! Others reach out to their clients with mass communication. Not the best! And certainly, most advisors totally forget about referrals and introductions – just at a time when many clients are looking to move to a new advisor.
These moments aren’t just about managing portfolios; they’re about deepening trust, guiding decisions, and—when done sincerely—earning introductions to others who need real help.
Be the Advisor Who Shows Up
Your role goes beyond numbers. When things get rocky, your clients are looking for someone to steady the ship. Don’t wait for them to reach out—call first. A quick check-in can go a long way toward easing anxiety and reinforcing trust. Your clients will remember that you stepped up when it counted.
Go Beyond “We’re Fine”
Clients might say they’re okay, but don’t assume that’s the whole story. Thanks to loss aversion, the sting of market losses hits harder than the joy of gains. Use open-ended questions like “Tell me more about how you’re feeling” or “What are you hearing from friends or family?” to uncover any hidden concerns. Honest conversations deepen relationships—and create space for genuine referrals.
Referrals from a Place of Care, Concern, and Service
Once you’ve been proactive and thoughtful, you’ve earned the right to say:
“If you hear anyone in your circle expressing frustration with their advisor or feeling unsure, feel free to send them my way. I’m happy to help however I can.”
This isn’t a pitch—it’s a natural extension of the value you’re already providing. It’s about helping more people make informed, confident financial decisions, especially during confusing times.
Or you can say, “When you talk to your friends, family, and colleagues and discover anyone who is concerned and maybe fearful about their financial situation., I’m never too busy to see if I can be of some assistance. Please, don’t keep me a secret to those you care about.”
Be Specific, Be Genuine
If the relationship allows, tailor the conversation to someone specific:
“I’ve been thinking about your sister and brother-in-law. Would you feel comfortable introducing us, just to make sure they’re getting the support they need right now?”
Or: “How are your parents handling all this? Do you feel like they’re in good hands?”
These questions aren’t salesy. They come from a place of leadership and service.
Keep Your Mission Front and Center
Your goal isn’t to “get more referrals.” It’s to be a steady, informed, caring presence during uncertain times—and to extend that value to others who might be lacking it. When clients feel cared for and see the difference you make, they’ll want to connect you with others.
Lead with clarity.
Ask with sincerity.
Take action on the opportunities.
Related: How to Become a Million-Dollar Financial Advisor: Insights from Dave Mullen