Do you feel lucky? If you’re Irish (or even want to be Irish) your luck might be enhanced a little around March 17th. If you follow college basketball during March Madness you might need a little luck to help you in the office pools. Or if you’re playing the lottery for one of those giant Powerball chances … you’ll need all the luck you can muster!
Finding your pot of gold can show up in many different ways. For many financial advisors finding a pot of gold can mean finding the right Center of Influence (COI) or referral source. This actually sounds easy until you try it. We work with a lot of financial advisors who struggle with finding the right COI. Some common complaints include a lack of reciprocity, lack of communication, unwillingness to meet in person, not following up on a referral and not paying close enough attention to the referral.
Is there a better way to find the right COI so that you can stop wasting your time with the wrong people? You bet! You’ll simply have to do a little work first.
In order to find the right people, you need to give two things a lot of thought. First, you need to know what qualities or characteristics you’re looking for when you consider someone to be right for you. Just like when you were dating, when you know what you’re looking for, you’ll have a higher chance of finding the right match. Same here. Spend time writing out the personal qualities and characteristics you’re looking for in the perfect COI. Once you have that list, you can now hold people up to that list and make better decisions.
Second, you must know what you expect from this relationship. And taking it one step further … the other person needs to know what you expect from this relationship. So get busy writing down all the things you want and/or need from your COI and be specific. Keep in mind that you can’t ask for something you’re not willing to give to the other person. Reciprocity is always key.
Financial advisors seems to forget these two things when it comes to their COIs. If you change it up from the very beginning of the relationship you’re more likely to actually have the relationship you always dreamed of … your pot of gold!
If you need help with this exercise or with knowing what to do with your current or future COIs once you’ve completed the exercise, send us an email at MichelleD@Asentiv.com.