Think We're a Good Match? A Helpful Guide for Introducing Us to Your Friends & Family
Terry Herr, CFP®, CLU
It’s never easy to ask something of our clients, but we believe in the mutual benefit of a good introduction. In fact, we never ask for referrals but more than 90% of our new clients come from introductions from existing clients. You don't need to know anything about someone's financial affairs to introduce us. Chances are high that there’s someone in your life who we may be a good match for us as well. If you have friends or family who you think could benefit from working with a financial professional, here are a few helpful things to know.
Why Should You Introduce Herr Capital Management to Others?
Reason #1: You Trust Us
It’s important to know that your loved ones are working with a capable advisor. If you’ve developed a strong relationship with us, then you can expect the same for others. Introducing your friends and family to someone you trust with your financial matters can help ease their anxieties in finding a financial planner and advisor.
Reason #2: Referrals Can Benefit Everyone Involved
Introducing Herr Capital Management to your friends and family can bring numerous benefits to everyone involved - you have the satisfaction of creating a solid connection in helping your loved one’s search for a trusted financial professional becomes easier and your we have the privilege of expanding our family of clients.
Reason #3: It Connects Like-Minded Individuals
(Birds of a Feather, Flock Together)
Oftentimes, people are friends with others who work in a similar field, have a similar socioeconomic level and the same values. This means your friends or family members have a good chance of needing similar services and support to what you receive. It’s likely we can assist them in addressing their financial concern as well.
Questions Referrals Should Ask Us (& Others)
Encourage your friends or family to ask prospective advisors the tough questions that can help them get a better idea of whether or not they may be a good match. These questions are a great starting point, as they can help paint a better picture of what working with us may look like for them.
Question 1: How Much Access Will I Have to You?
It’s important for someone to know what the advisor-client relationship will look like from the start. Your loved ones should ask important questions like: “Can I call and talk to my advisor anytime I want?” or “Am I required to attend quarterly meetings?” Everyone should be on the same page from the start regarding communication and the ongoing working relationship. We’re happy to review our process and expectations in our initial conversations, as we believe this is important in building a cohesive and enjoyable experience. One distinguishing factor is that when you work with us, you are getting a firm that works as a team to help our clients achieve their goals, not just an individual advisor.
Question 2: How Are You Paid?
Are you a fee-only advisor, fee-based or do you solely work on commission? It’s good for a prospective client to have a clear understanding of how their advisor will be paid. Each fee type has its pros and cons, and prospective clients should be aware of this. We’ll be happy to review our fee structure and schedule and answer any questions your loved ones may have.
Question 3: Do You Collaborate with Other Professionals?
Some advisors collaborate with a network of other financial professionals, such as attorneys or accountants. Others primarily work alone or offer to work with professionals already assisting with your loved one’s financial situation. While different advisors work in different ways, depending on your family or friend’s financial and overall needs, this can impact their decision to work with someone.
If you feel that we bring value to your financial life, we encourage you to share our contact information with others who could potentially benefit from our services as well. You don't need to know anything about their financial situation. We are more than happy to meet with anyone you think we can help or should know. An introduction gives as an opportunity to create a meaningful connection.
If you have any questions, don’t hesitate to reach out. We’d be happy to provide more information for you to share with your loved ones anytime.
This content is developed from sources believed to be providing accurate information. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.