ETF Trends
ETF Trends

By Laura McCarron via Iris.xyz

Every advisor knows that referrals are the golden key to growth. That’s particularly true when it comes to your affluent clients whose personal recommendations can have the power put your AUM into hyperdrive. Of course, even for the most respected professionals, getting those referrals can be a challenge. Why? In part because doing a great job is simply expected—especially for high net worth clients who are accustomed to stellar service and performance.

If you’ve ever heard Matt Oechsli speak about marketing to the affluent, you’ve surely heard the phrase word-of-mouth influence, or WOMI. (If you haven’t, check out this recent article from Wealth Management magazine.) Matt is a true believer in how WOMI can shift the trajectory of a firm, and I think his findings are spot on: the key to advisor success is creating client relationships that drive word-of-mouth influence.

Word of mouth is a powerful thing. What’s tricky is that, psychologically, we humans tend to focus on negative experiences over positive experiences.

Click here to read the full story on Iris.xyz.