Introducing Refer iQ

Client referrals, automated
(awkward conversations not included)

Client referrals are the #1 most efficient growth strategy available to advisers,¹ yet only a quarter take a proactive approach and even fewer - only one in 10! - have a well-defined process.²How much AUM are you leaving on the table by not systematically investing in referrals?

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The Referral Gap

90% of clients say they would refer their adviser.
Nearly a third CLAIM they referred their adviser.
But most advisers only see a fraction of these. Why is that?There is a lot of leakage in the referral funnel. Some clients don't know their adviser is open to new business. Many have no idea which of their contacts would make for a good prospect. Those that do may not know how to make an effective introduction. On top of all this, many advisers find it feels...uncomfortable...bringing up the subject.

More referrals,
less awkward.

For decades advisers have been told the solution to the referral gap is simply to be more aggressive.Remind clients that you only get paid two ways. Ask for a separate meeting to sift through their LinkedIn connections. Maybe even just have them fill out a form with their wealthy friends' contact information so you can reach out directly.There are a subset of clients willing to make referrals like this (and a subset of advisers comfortable asking like this), but for most, the conversations can be awkward at best. At worst, they can damage valuable relationships.That's why we created an automated solution that:
1. Identifies your happiest clients
2. Helps them spot potential good-fit prospects
3. Provides frictionless opportunities for clients to make introductions
4. Gives you real-time insight about new opportunities

Finally, a referral solution that works

In our YouGov study of 500 HNW individuals who work with a financial adviser, we found the Refer iQ methodology leads to:- Clients are 50% less likely to struggle to identify a specific prospect to refer
- Clients are twice as likely to feel comfortable making an introduction

What would more referrals mean for your practice?

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Find out why hundreds of advisers rely on Testimonial iQ for compliant solutions to organic growth

Testimonial iQ serves firms ranging from solo-advisers to those with tens of billions in AUM. Wherever you are in your growth journey, we have a solution for you. Learn more about our award-winning compliance software at www.testimonialiq.com.Schedule time today to learn why RIA Intel named Testimonial iQ the Most Innovative Technology of 2024 and WealthManagement.com dubbed us the Top Compliance Technology Provider.

1: https://www.kitces.com/blog/client-acquisition-cost-financial-advisor-marketing-efficiency-lifetime-client-value-lead-generation-satisfaction/2: https://www.kitces.com/kitces-report-financial-planner-advisor-marketing-tactics-strategies-referrals-centers-influence-networking