As a financial advisor, generating referrals is an essential part of growing your business. However, it can be challenging to ask clients for referrals without coming across as pushy or jeopardizing the relationship. In this blog post, we will discuss one of the most powerful strategies for generating referrals that financial advisors can use to grow their business.

According to Brandon STK, a private consulting practice owner, the best way to generate more referrals is to start a private Facebook group for your clients. Facebook groups are a private pool of people who are all there for one purpose, and they receive and update people on information regarding one particular topic.

To get started, you should invite all of your clients who are on Facebook to the group. Since Facebook is the most popular social media platform among boomers, this will likely be most of your clients. You can also friend them on Facebook and invite them to the group.

Once your clients have joined the group, you can use it to communicate with them on a regular basis. For example, you can post helpful links to articles about retirement planning or shoot a quick iPhone video sharing a thought that you had after a client meeting.

Not only will this help you keep in tighter communication with your clients, but it will also go a long way towards client retention. The real power in doing this, however, comes from the “invite friends” button. Once your clients have joined the group, they will see the same blue button, and this is where the magic happens. They can invite all of their friends who they would potentially refer to your business into the group.

In conclusion, starting a private Facebook group for your clients is a powerful strategy for generating more referrals as a financial advisor. It allows you to stay in touch with your clients on a regular basis, and it gives them an easy way to refer their friends and family to your business without feeling awkward or pushy.