Why Your Affluent Clients Don't Give You More Referrals

I recently stumbled across an interesting study conducted by a financial advisor magazine. According to the study, affluent investors - those with one million plus in investable assets - are twice as likely to act on a referral from a trusted professional advisor than a referral from a trusted friend.

That knowledge is gold for a financial advisor looking to increase their percentage of affluent clients.

Organic referrals are the holy grail of nearly every business.

Thousands of books, courses, and blog posts have been written about how to get more referrals by respected marketers, salespeople, and business leaders.

And yet, despite the science and attention paid to this topic, the fact remains that our best, wealthiest, most successful, and (often times) biggest spending clients often aren't the ones giving us the greatest access to their network.