Description

In this podcast episode, hosts Wes and Andy debunk the idea that more customers are the key to a better advisory practice, instead highlighting the power of referrals. They discuss the ineffectiveness of traditional referral methods, like policy wallets, and the importance of creating a process that naturally attracts clients. Wes uses a mission trip story to illustrate the significance of meaningful engagement over superficial metrics. The duo acknowledges advisors' skepticism but emphasizes the need for a process that resonates with clients' aspirations, leading to organic referrals and sustainable business expansion.

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In today’s episode we will cover:

•  Misconception among advisors about acquiring more customers
•  Emphasizing the importance of referrals as a trustworthy source of leads
•  Ineffectiveness of traditional referral methods in today's business environment
•  Importance of creating a process that attracts clients rather than asking for referrals
•  Measuring meaningful indicators for success
•  Concept of becoming better rather than just getting bigger
•  Skepticism about clients coming to advisors
•  Challenge of shifting focus from traditional methods to creating an attractive process

We hope you enjoy this episode, and would love to hear your feedback by leaving a review. If you’re an advisor and want to further explore these or other topics you can learn more at www.wesyounglive.com. Perhaps you’ve been following us for a while, and you’re ready to transform your practice. If so then we would love to have you at our upcoming Transform University class - click here for information on how to sign up.