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Last week 409 independent financial advisors gathered in Chandler, Arizona to attend the Peak Advisor Alliance Excell Meeting.

At one session, Ron Carson of Carson Wealth Management asked the attendees how many ask for referrals at every opportunity.

[pullquote]They…lack the confidence to “sell” themselves and their expertise.[/pullquote]

Very few advisors raised their hands. Since the majority of business is actually done by referrals, and advisors are “coached” to ask for referrals why are so few of them actually doing it? Appears that most are just not comfortable doing it because they don’t know how or when to do it, or lack the confidence to “sell” themselves and their expertise.

Carson said the “comfort” comes by educating your clients as to why they love you and doing business with you; the “when” is initiated by you at targeted events whether is be at a sporting event or over a beer or coffee after work, and always when someone compliments you.

Matthew Halloran, a coach at Peak, said “Confidence is the real difference between a pro and a real pro…an advisor needs to work to solicit a compliment, then ask a lot of open-ended questions to gain information from clients which will generate referrals.”

Said it before and will say it again…you have to sell yourself and your services over and over and over again.