A Client Referral Trade Secret

We all love a trade secret, don't we? A tip or technique that only people in the trade know of. Here's one from financial advisers. Especially useful for those mortgage advisers who also take protecting their clients very seriously. Which is all of you, naturally. Ideal for life assurance in single names and Wills. The secret? Executors and Trustees. Usually, Continue Reading

We all love a trade secret, don't we? A tip or technique that only people in the trade know of. Here's one from financial advisers.

Especially useful for those mortgage advisers who also take protecting their clients very seriously. Which is all of you, naturally. Ideal for life assurance in single names and Wills.

The secret? Executors and Trustees. Usually, close friends or family, carefully chosen by your clients because they trust them and have known them for ages.

Trusts require at least a couple of trustees to carry out your wishes in the discretionary trust. Will need Executors and Witnesses who will do the same.

This isn't a secret, Paul? I hear you cry. And you're right. The secret is to meet the trustees and executors to gain a referral to them. Most advisers arrange the documentation online or via the post and leave it to the client, the life office and the Will writer to organise everything.

Instead, arrange a meeting online on video. You, the clients, the trustees and any witnesses discuss their obligations and what they need to do next. Of course, you'll be wanting to secure a referral to these people at the same time, which you should do.

Make it part of the process. Don't ask. Just say, the next step is for you and me to meet on video to talk about your protection needs and your will. When is a good time to meet?

I know it's extra time and effort on your behalf. The life offices have solid apps and websites that seamlessly, so you don't have to talk to them. However, spending some time discussing it all through and introducing yourself alongside your best friends will guarantee a referral.

Shhh, it's a trade secret, so don't go telling everyone, will you!