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EVERYTH!NG YOU NEED TO SAY

AS YOU IMPLEMENT THE

REFERRAL ADVANTAG ETM PROG RAM

BY

Bill Cates, csP

PRESIDENT, REFERRAL COACH INTERNATIONAL
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EVERYTHING YOU NEED TO SAY

AS YOU IMPLEMENT THE

REFERRAL ADVANTAG ETM PROGRAM

BY

Bill Cates, csP

PRESIDENT, REFERRAL COACH INTERNATIONAT

FOR INTERNAL USE ONLY NOT FOR U5E WITH CLIENTS

 Table of Gontents
TOPIC PAGE
Introduction... 3
Discussing Expectations.. 4
Planting Referral Seeds.... 6
l. Cclebrate Mceting Through Refcmals
2. "Don't keep me a secret."
3. "I'll eam thc right."
4. "l'm nevcr to busy. ." .

5. Thc Golden Rulc of Ret-crral Giving

6. Givc Them Your Business Clard
1. "I'd like you to take ownership in this practice ."
8. Sharc Your Vision for Your Business
9. Do mailings that ask for rcfcmals
Asking for Referrals at the Right Time.. 17
Asking for Referrals Most Effectively......... l8
l. The"Straightfurwarcl"
2. Thc "Takc a Risk"
3. Thc "Money in Motion"
4. Thc "Mct Through a Referral"
-5. Thc "Mission to Servc"
6. Thc "Gift"
7. The "High-Tmst Referral"
8. Thc "How I'll Contact Them"
9. The "Not Sure How to Approach Thcm"
Dealing with Referral Objections. 34
L "I don't give rcferrals."
2. "I can't bclicve no onc's called you."
3. "Givc llc sotrle busincss cards to pass out."
4. "Let mc contact them first."
,s. "Let me think about it."
6. "I'rn Not Sure How to Approach Thcm"
7. "Hc alrcady has an advisor."
8. Backing Off #1 - "50o of the peoplc I'm refemed to ... ."
(). Backing Off #2 - "Most pe oplc ne ve r take the time to . . . ."
Upgrading Referral Connections... 51
Calling Your New Prospect.... 54
Sample Email Introductions. 56
Pre-Approach Letters 1-3.... 5l
Sample Client Testimonial Letter 60
What can The Referral Coach do for you?. 6l
NE}TNEAL COICH
INTIRi]ATIO|{AL
[email protected]
www.ReferralCoach.com 800488-5464
lntroduction
In the past, I didn't believe in scripts. I used to teach producers the basic
principles and let thern figure out the words. The problem with that philosophy is
that many producers wanted and needed rne to give them actual language - so they
could see themselves asking for referrals and all the other prospecting strategies I
teach.

Here's a key point. When learning techniques, such as asking for referrals, it's
important that )zou can see )zourself doing the technique. It needs to fit sonewhere
within your range of behavior. I'm not saying it needs to be totally comfortable
from the starl. Most new behaviors aren't. If the strategy is so far out of your
comfort zone, you'll usually discount the strategy and probably never attempt it.
So, here's where scripts colne in. In thrs Scripts Book I give you the basic
concept, and then I give you a few ways the concept rright be used in real life. If
you like, you can memorize a script and start using it as is. Or, if you like, you can
use my scripts merely as templates to your ornn scripts.

IMPORTANT! If you are working frorn a script, it's critical that you rehearse
and practice the script dozens of tirnes (dozens, really!) so it becomes absolute

second nature. When it becomes second nature, you can put in the subtle nuances

necessary to make it sound real. You must take it out of the realm of technique and

into the realm of sincerity. A prospect or client can smell a technique a mile away,
and obvious techniques can work to diminish the all-important trust in the

relationship.
On the other hand, a prospect or client can feel real sincerity. Whatever you do
with this book, make sure you turn these strategies and scripts into your own
genuine language.

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Bill Cates c Referral Scripts Book for Financial Professionals o Referral Coach lnternational

Discussing Expectations
One of the most imporlant trust-building conversations you can have with a

prospect or client centers around their expectations for the relationship you are

entering into or building. By asking thern what they expect in the relationship, and
genuinely listening to their answer, you demonstrate that you care about the

relationship. You may have heard the old saying, "People don't care how much
you know, until they know how much you care." Well, it's true.

EXPECTATIONS SCRIPT #1 :

"If you could build the perfect financial services professional (insert appropriate

tenl here), what would he or she be like?"

EXPECTATIONS SCRIPT #2:

"Let's pretend it is two )zears (or other appropriate time frame) frotn now, how will
we know we've been successful?"

EXPECTATIONS SCRIPT #3:

o'Let's pretend will
it is two years from now, what be your lneasure of our success?"

EXPECTATIONS SCRIPT #4:

YOU: "Bob, you mentioned you have some term insurance with XYZ Insurance.

Fine company. I'm curious. who sold that policy to you? I may ktrow him." (You
never want to talk negative about your competition; you'll only be insulting your
prospect. You just want to discover who's sittirrg across the desk from you.)

(Possible Response #1)

BOB: "Well, it was five years ago and I'm not sure I remember his name. I never
heard from him again. l'm not sure if he's even in the business anymore."

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Bill Cates ' Referral Scripts Book for Financial Professionals . Referral Coach lnternational

YOU: "Well, unfortunately, that sometimes happens. And it's a shame. I can
assure you that I will continue to stay in touch with you. As your needs change, I
want to rnake sure I'm here for you."

(Possible Response #2)

BOB: "Forget that guy. He bugged me for refemals so aggressively I couldn't
stand to talk to hirn anymore. I hope you aren't going to bug me for referrals."

YOU: "Heaven's no. My philosophy around referals is this... First, I think

referrals are imporlant. We met through a referral. It's how people prefer to nleet a
financial professional. However, I'm not going to bug you for referrals. Let's
make sure we do some good work together'flrst." (You want to take a pretty low

key approach with someone like this. It doesn't fflean you won't get referrals down
the road, but he shouldn't think that referrals are sornething he's obligated to give.)

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Bill Cates . Referral Scripts Book for Financial Professionals . Referral Coach lnternational

Planting Referral Seeds

It's imporlant that you think in terms of getting the referral process started right
away. I didn't say you ask right away. But you do want to bring it up in cerlain
ways that will foreshadow the process for later.
The neat thing about planting seeds is that, on many occasions, yoll can plant a

seed (not expecting refemals at that tirne) and have your prospect or client offer

referals right away.

Oftentirnes planting a seed can trigger a connection in the mind of your
prospect or client that turn into referrals right on the spot.

Here are some methods for introducing the referral process quickly (and softly)
into the relationship, along with some possible scripts:

l. Celebrate the tact you met through a referral:

YOU: "You know, Bob. It's great Mary suggested we meet. Meeting people
through referrals is the best way. It's certainly more comfortable for both of us,
and it means I'll have more time to serve you as well as continue to serve Mary.

I hope, at sorne point, you might feel comforlable introducing me to some of

your fi"iends or colleagues."

(Possible Response #1)

BOB: "Well, do a good job and I suspect I can make a few introductions for
you."
(Possible Response #2)
BOB: "This doesn't mean I have to give you referrals does it? i usually don't
like to give referrals and I certainly don't want to feel obligated to do so."
YOU: "Of course not. I don't ever want you to feei obligated to give rne

referrals. I would say, though, that I hope to bring enough value to your life
that at some point you might think of a friend, family member, or colleague
whom you feel could benefit from the work I do. Fair enough?"
2. otDon't keep me a secret."

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Bill Cates . Referral Scripts Book for Financial Professionals . Referral Coach lnternational

YOU: As you leave a meeting or get off of the phone... "And Mary, please
don't keep rne a secret."
OR "And Mary, please don't keep me a secret out there."
OR "By the way, Mary, I hope that if the work we're doing ever
comes up in conversation, you won't keep me a secret."

ALSO, in written coffespondence, like letters and personal notes - you can
write: "PS Don't keep me a secret."

3. "I want to earn the right."

Some producers are still being taught the "I get paid in fwo ways (or three ways

if you charge for a financial plan)." Although this phraseology can work, it's
not client centered. It's all about you at a time when you should be talking
about them.

You can strengthen this strategy considerably by turning it back on them -

letting them know you're going to "earr the referrals."
And even if you don't use the "get paid in two ways" pafi, you can still tell the
client that you'd like to "eanl" their referrals.

YOU: "Mike, sometimes people wonder how I get paid. Basically I get paid in

two ways. First, if you purchase a financial product (or service) from our
company, I get a commission. Second, if you like what I bring to our
relationship, if you find our process valuable, then you'11 feel inclined to
introduce me to a few of your friends, colleagues, or family members who you
feel will also benefit fi'om knowing rne."...

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NOTE: Up to this point, it's producer centered.

... "Which means to you Mike (magic phrase), I intend to eam those
introductions. I'tn going to make sure we create a great strategy for you and
that we do a great job implementing that strategy. I'rn going to explain things

clearly every step of the way. And if any problerns come up, I won't run away
from them, I'll be there for you. Through that process, I hope you'll want to
share what I do with others. Fair enough?"

Make this 1-rt what you sell and how you sell it. Even without the "how I
get paid" part, this can be a porverful way to foreshadow a referral conversation

down the road.

4. 66I'm never too busy."

If you're a veteran who has a much defined practice, and not every prospect
fits your practice any rnore, you can skip over this strategy. If you're fairly
ne\^/, or run a more general practice, then you'll find this "seed planting"
effective.

YOU: "Martha, I'm glad you're beginning to see the value in the work I

do. I want you to know that I'm never too busy to see if I can help any of
your fi'iends, colleagues, or family mernbers who you think rnight benefit
from knowing rne. Okay?"
MARTHA: "I'll keep that in rnind."

OR

YOU: "Martha, I'm glad you're beginning to see the value in the work I

do. I want you to know that I'm never too busy to see if I can help any of
your friends, colleagues, or farnily mernbers who you think might benefit
from knowing rne. Okay?"

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Bill Cates . Referral Scripts Book for Financial Professionals . Referral Coach lnternational

MARTHA: "Great. In fact, I have a close friend, Nancy, whom l'm

thinking should meet with you. Is there a certain type of person you work
with?"
YOU: "Actually, I've discovered there are some people I can serve better
than others - depending on their situation and my areas of expertise. Teil

you what, I'll give thern a call, and if they aren't a good fit, I probably
won't serve thetn as well as one of rny colleagues can. If I detennine that
one of my associates is likely to serve thern better, is it okay if I refer
Nancy to them?"

MARTHA: "Makes sense. As long as they're as competent as you."

Sornetimes, wheu you plant a seed for ref-er:rals, they stimulate a referral

conversation right on the spot. Always be prepared for that. In the second
scenario, the script presents one way to handle referrals that may come to you

that don't fit your business.

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Bill Cates a Referral Scripts Book for Financial Professionals . Referral Coach lnlernational

5. The Golden Rule of Referral Giving

A great way to plant the seeds for quality referrals is through how you qive
refemals. The more often and the better you give referrals, the more referrals
will come your \vay.

You want to practice the Golden Rule oJ'Re/brral Giving which says:

Give Referrals Unto Others

As You Would Have Them
Be Given Unto You
By taking the time and attention to make sure the refemals you give make a great
connection, you're doing two things: 1) You're demonstrating tl're value of giving
referrals when handled well; and 2) You're modeling the best way to give a referral.

So when the time colnes tirne for people to give referrals back to you, you're more

likely to be given a great connection. Here's a possible scenario:

YOU: "Jay, you really need to get a will done. You know that don't you?"

JAY: "Yes, I do. Not sure why I keep putting it off."

YOU: "Well, many people do. Look. I know a great attorney, Harry
Considine. I'll have his assistant give you a call to set up an appointment.

Okay?"
JAY: "Okay. Guess I can't put it off any longer. Thanks!"
One Week Later,.,
YOU: "Hi Jay, this is Bill. Have you heard from Harry Considine? Just
wanted to make sure you guys connected."

JAY: "Yes. His assistant called yesterday, and I'm going in to see hirn next
week. Thanks for fbllowing up."

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Bill Cates + Referral Scripts Book for Financial Professionals . Referral Coach lnternational

6. Give them your business card to carry.

Having your happy clients walking around with your business card in their
wallets can lead to n-rany referrals over time. Get them to carry your card
with this client-centered approach.

YOU: "Slrzanne, I'm glad you're happy with the work we've done.

You've made some important decisions that will serye you well for years to
come. I have something I'd like you to do."

SllZ: "Sure, urhat's that?"

YOU: ['d like you to carry one of my business cards in your wallet at all
times. Here's what can happen. Tornorow, or next week, or next year,
you could be discussing the work we've done with sorteone. Maybe they
did something different. Maybe this conversation makes you begin to
doubt what we've done - even though you know their situation is probably

different. I want you to have my phone number with you at all times. This
way, if you are wondering about anything we've done, you can call me
right away. Make sense?"

Now you have your happy client walking around with your card in their wallet
as a benefit to thern. When the time is right, they'll lemember the card and use it to
refer someone to you.

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Bill Cates . Referral Scripts Book for Financial Professionals o Referral Coach lnternational

7. Referrals are a natural outcome of this process.

One of the most powerful ways to get refemais without even asking is to let
your prospects and new clients know that refen'als are a natural outcome of
your process. It might go something like this:

YOU: "Jen1r, as we get started, I just wanted you to know what happens solne

times.

JERRY: "Okay."

YOU: "Quite often, as I go through this process with people, they naturally
begin to think of others who should know about this process. But they often
don't bring it up because they're not sure how to introduce me to them. Which
is a shame, because those people never get the benefit of this process. So, here's
what I ask. If, at anytime, you think of someone who should know about this
work, please bring it up, and we'll see if there's a comfortable way for you to
introduce me to hira or her. Make sense?"

JERRY: "Absolutely."

This strategy works because you're acknowledging what happens all the
time. When it happens to them, they'lI now be much fflore likely to bring it up."

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8. Share your vision for your business.

When I conduct my referral seminars and boot carlps, I always ask the
participants, "who shares your vision for your practice with your clients."

Usually a few hands go up - not a high percentage. Then I ask these people to
tell the group how their clients react. The response is always the sarne, "They
love it. It rnakes rne real to thern." This may seem like a gutsy strategy to you,
but it's an effective strategy.
If you're good at what you do, spend a fair amount of time helping your
clients clarify their vision of their financial future. Even in a very client-
ceutered practice, there does come a tirne when it's okay to talk about your

vision. In fact, having a clear vision is an attractive quality.

Because everyone's vision will be very different, I can't give you the script
for your vision. Only you can do that. So, the following script catches the
conversation near the end. This is where the referral seed gets planted.

YOU: "And finally, the way I see us reaching this vision, is by doing a great
job for our clients. We want to make sure that we bring so much value and
good work to our clients, that they'll tell others about what we do.

You know Randy; there are a lot of people out there who are getting bad
advice or no advice. And because of that, they've set themselves, their
businesses, and families up for disaster. Even very successful people * who
from the outside look like they must have everything handled.
We know that we'll reach these people if we do good work for our clients, and
our clients spread the good word."

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Bill Cates r Referral Scripts Book for Financial Professionals . Referral Coach lnternational

9. Do mailings that ask your clients for ref'errals.

Approximately once per year, it's a good idea to send a letter to your clients (or
at least your "A" clients) asking them for referrals - in a client-centered manner
(not about building your business). The benefit of such a mailing will be two fold.
First, you'lI get some referrals. Don't expect a lot. You'll probably receive

enough that turn into clients to make the time, money, and effort worthwhile.

Second, all your clients will know you're open for business and looking for
rlore people to serve. This tactic will help insure you don't hear statements from
your clients such as, "Gave your name out to a friend the other day, is that okay
with you?"
Of course it's okay with you. But why would that have to ask? Because you
haven't been planting enough seeds with all (or most) of your clients.

See the next page fbr a sample letter. Note: any letters you send out to your
clients and prospects should be reviewed for compliance by your legal
department.

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Bill Cates . Referral Scripts Book for Financial Professionals . Referral Coach lnternational

LETTER ASKING FOR REFERRALS #{

Note: any letters you send out to your clients and prospects
should be reviewed for compliance by your legal department.

July 4, 1790

Mr. and Mrs. George Washington

I600 Pennsylvania Avenue
Washington, DC 20001

Dear Ceorge and Martha,

As we've worked together, I hope yourve come to see the value of working with a financial
services professional in general, and with me specifically. Having up-to-date goals and a
specific plan to reach those goals is critical for financial well-being. Yet many people are
getting poor or incomplete advice in this area, and don't even realize it.

Please take a tninute to think of people whom yoll care about (family, fiiends, and
colleagues) who you think should know about the lvork I do. We won't assume I can help
them or that they'll be interested, but you'd just like them to be aware of how I might help
them.

Interestingly, about 50% of the people I'm introduced to by my clients are open to sitting
down with me to talk about their financial goals. That suggests that about half of the
people you know might be very open to getting a fiesh look at their situation.

I've provided space belou, for the names of five people (or couples) you think should know
about this irnportant work. Please write their names below and send this letter back to me
in the postage paid envelope I've provided. Upon receiving this letter, I'll give you a call
to discuss the best way for us to approach these people. I promise that we will do this in a
professional and friendly manner with absolutely no pressure.

As always, thank you fbr the confidence you've shown in me. I look forward to our
continued relationship.

Cordially,

Alex Hamilton
(Your Title Goes Here)

Name Daytime Phone Evening Phone

1.

2.
1
J.

4.
5.

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LETTER ASKING FOR REFERRALS #2

Note: any letters you send out to your clients and prospects
should be reviewed for compliance by your legal department.

July 4,l79l
Mr. and Mrs. George Washington
I 600 Pennsylvania Avenue
Washington. DC 20001

Dear George and Martha,

As we've worked together, I hope you've come to see the value of working with a financial
service prof-essional in general and v,'ith me specifically. Having up-to-date goals and a
specific plan to reach those goals is critical fbr financial well-being. Yet many people are
getting poor or incomplete advice in this area, and don't even realize it.

Over the past year. we've had several clients move out of the area and two pass away.
Because of this, we have I 0 slots available for people who are a good match for our
practice.

Please take a minute to think of people whom you care about (family, friends, and
colleagues) who you think should know about the work we do. We won't assLlme i can help
them or that they'll be interested, but you'd just like them to be aware of how I might help
them.

I've provided space below for the names of people (or couples) you think might like to
know about this important work we do and tlie kind ser:vice we provide. Please write their
names below and send this letter back to me in the postage paid envelope I've provided.
Upon receiving this letter, I'11 give you a call to discuss the best way fbr us to approach
these people. I prornise that we will do this in a professional and fiiendly manner with
absolutely no pressure.

As always, thank you for the confidence you've shown in me. I look fbrward to our
continued relationship.

Cordially,

Alex Hamilton
(Your Title Goes Here)

Name Daytime Phone Evening Phone

1.

2.
3.
4.
5.

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Bill Cates . Referral Scripts Book for Financial Professionals . Referral Coach lnternational

Asking for Referrals at the Right Time

ln the Unlimited Referralsi,r, Marketing System you ask for referrals when value
has been given and value has been recognized. Of course? the most important part

is that your client or prospect has recognized the value. When can this happen?

Most anytime. The goal is to go into every appoir-rtment with the attitude of "how
can I provide value for this person today?" It can happen on your first, introductory

appointrnent. It can happen on your "fact finding" appointrnent. It can happen

urhen you make a proposal and when you deliver a specific product or selice.

Value-Seeking Questions
At the end of every appointment you want to ask value-seeking questions. Here
are a few examples:

1. "We've covered a lot of things today. I'm curious. What was the most
important thing we covered?"
) "Bob, as we're wrapping up the first part of our process, I hope you're
tinding value in the work we've been doing. What, in your opinion, has

been the most valuable part of this process thus far?"

1
J. "Bob, we've met a few tirnes over the last couple of weeks. We've talked
over the phone. You've been very gracious in answering all the questions
I've had for you. I'm wondering if you could tell me what parts of the
process have you found most valuable."

You'll find your own words here. Just don't be afraid to ask these all-irr-rportant
value-seeking questions. This is what sets you up for asking for referrals. Very
important!

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Asking for Referrals Most Effectively

Here's my 4-step process broken down into steps. After we go through
scripting for each step, I'll give you several variations of how you can move
through the entire process.

STEP #1: Discuss the value they perceive.

The previous section covered how to get into this conversation. Here's an

example of how it might play itself out as you have a good discussion of the value

they've received.

YOU: "Bob, \ ,e've met a few tirnes over the last couple of weeks. We've talked
over the phone. You've been very gracious in answering all the questions I've had
for you. I'm wondering if you could tell me what parts of the process you have
for"rnd most valuable? "

BOB: "That's a good question. Let me see. Couple things I guess. First, I like the

way you asked rne sorre good questions to get rne thinking about my financial
future. Second, I thought you explained things quite well. I feel like I have a good
handle on my money situation now."

YOU: "Great! One of your conceffrs coming into this process was having enough

nloney for retirement, as well as for your children's education. How do you feel
about that issue now?"

BOB: "Actually, I feel pretty good about it now. Obviously, I'm going to have to
stick to the plan we've laid out. But I'm much less womied about it. It feels good.
Thanks!"

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Bill Cates . Referral Scripts Book for Financial Professionals r Referral Coach lnternational

STEP #2: Treat the request with importance.

How do you treat the request with importance? First, you make sure you have
enough time to ask for referrals. Nothing to script here. Just make sure you use an

agenda for your meetings. Put the word "refeffals" or "introductions" or "value" on

the agenda. This will trigger the discussion of value and discussion of referrals.
Next, if you met through a refemal, you should remind the client of that. And,
finally, move into the request with the words, "I have an imporlant question to ask
you." Here's an example (following the discussion of value):

YOU: "Well, Bob, that's great. I'rn glad you're seeing the value in the work we're

doing. You know, were it not for George suggesting we meet, we wouldn't have
done this impofiant work. Guess we both owe him some thanks."

BOB: "I've already thanked hitn."

YOU: "Good." With that in rnind, I have an important question to ask yoll."

BOB: "Shoot."

Is it really as simple as that? Yes! Treating the request with reverence is a

simple thing, and very important. How you put it out will determine how it comes
back to you. Don't overlook this quick, but important, step.

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STEP #3: Get permission to "brainstorm."

It's hard to say which is the most important of the 4 steps in this little process of
asking for refemals. However, if pressed, I'd have to pick this step. If all you do is
get permission to brainstonn, you'll have great success askirrg for referrals (as long
as you bring value and remain referable). Here's how we continue, picking up from

step #2:

YOU: "l have an important question to ask you. (Okay, shoot.) Good. I was

hoping to get your permission to brainstorm for a few minutes about who you know

who might truly value the work I do. Could we do that for a couple of minutes?"

BOB: "Sure... happy to. Not sure I know anyone."

YOU: "That's fine. We're just brainstorming here."

So, I threw in a srnall objection. It's small because Bob gave pennission to
have the conversation. Once that's been done, step #4 wlll take care of this small
objection.

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STEP 4: Suggest names and categories of names.

This is the natural extension of the "brainstonn." You don't want to throw the
whole universe open to your client to think about. You want to narrow their focus
in different areas of their life so they will be more likely to think of one or more
people.

There are a number of areas to brainstonn. Here are some very short scripts
that hit the different areas. Each begins at the same point, i.e., permission to
"brainstorm" has been given. Longer scripts follow that put these areas of
brainstorming in context.

Specific Names
"Thanks Bob. You mentioned your brother-in-law last week. Let's start with him.
Do you think he rnight value the work I do?"

Categories of Names
"Thanks Bob. I know you're very active in your industry association. In fact, I
think you said you were on the board of directors. Let's start tirere. Who do you
think might spend a few minutes with me, just because you said to?,,

Ideal Client Profile

"Thanks Bob. Here's a profile of the type of people I've discovered I serve the
best. People much the same as you, actually. You'll see the first attribute is people
who know the value of professional advice. I don't expect you to know all the
details of someone's financial situation, but you probably have a sense. That's
good enough for this purpose."

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Your'oHit List"
Your hit list can come fi'om different sources. It could be a list of successful
people you identify irr your communitylcity. It could be a list of business owners

and executives in and around your client's office building or industrial park. Or, it
could be a list of your client's neighbors. The hit list is usually employed:
l. If your client can't or won't give you specific narles.
2. After you've gotten soffIe names and still have some time.
3. As the relationship continues and they're tapped out of people they can refer

to you.
"Bob, thanks for this referral to Mary. And thanks for telling me a iittle bit about
her. Before I go, I wanted to show you a list of solne fblks I was planning on
calling. Thought if you knew any of them, and if you felt cornfortable, I could
mention your name when I called. Can we look at this for a second?"
Note: any calls you make to prospects and clients must be consistent with your company's rules and
the state and federal Do Not Gall Regulations. lf in doubt, run your scripts by your legal department.

Referrals to Your Seminar

If you cio any type of seminar selling, you should use your happy clients to
increase your attendance through referrals. Some clients, who may not give you

refenals where you call their friends or colleagues, rnay give you referrals to invite
thern to an educational seminar. It's a pretty easy refemal to give and to get.

"Thanks Bob. I'm holding a seminar on estate planning in a few weeks, and I
thought you might have some friends and colleagues who would want to learn
about this important topic. I'd just like to send them an invitation, mention the fbct

that their narle came up in conversation. How does that sound?"

Referrals to Centers of Influence

Not only clo your clients know people who would benefit from your irnportant
work, they also know potential centers of influence (CPA's, attorneys, religious

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leaders, community leaders, HR directors, and all the kinds of people who make

good COI's for you. Just as with refen'als to your seminar, refelrals to COI's can be

obtained at various points in the referral conversation.

"Bob, in addition to discussing who I might be able to serve with the work I do, I
was hoping we could discuss whom you know who might help me meet quality

people. First, I'd very much enjoy meeting the other financial professionals in your
life such as your CPA. How do you feel about me giving your CPA a call?"

So, that's the 4-step process broken down step by step. Now, here are a number

of scripts that illustrate this system with rnany variations. It's up to you to chose the
style that fits your personality, the personality of your clients, as well as the speciflc
situation.
Remernber, your goal is not to necessarily memorize my scripts - though you

may choose to do so. The goal is for you to find language that will get you asking

more often and creating the results you desire.

NOTE: Each one of these scripts prcks up after the "value discussion." The
time to ask for referrals is when your clients express satisfaction with your work
andlor recognize the value you've brought to them (either volunteered by them or as

a result of your asking value-seeking questions). ALWAYS begin the conversation

at that point, and not before.

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The "Straightforward"
l/ier the value has been discussed.
YOU: o'Well Martha, that's great to hear. I'm glad you're seeing the value of my
r.vork. And, of course? I hope to continue to be of value to you through my service

and in other ways.

With that in mind, I have an important question to ask you."

MARTHA: "Okay."

YOU: "I'm hoping we can brainstorm for a few minutes about who you know'and

care about who just rnight benefit from the work I do. Could we do that for a few

minutes?"

MARTHA: "Sure. I guess so."

YOU: "Great. First I'd like to show you a profile of the type of person I serve the
best. You'll see they're people much like yourself. ..."
"Now that you've seen the profile, let's begin with that large family of yours."

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The ooTake a Risk"

l/ier the value has been discussed.
YOU: "Well Martha, that's great to hear. I'm glad you're seeing the value of my

work. And, of course, I hope to continue to be of value to you through my service

and in other ways.

Do you think that George took a risk introducing you to me?"

MARTHA: "I suppose so. We trust each other quite a bit, but when it comes to

financial matters, we're a bit private. Yea, I guess it's always a risk when you
recommend a product or service to another person."

YOU: "That's true. I think that George thinks pretty highly of you and wants you

to be able to take advantage of the same process I brought to him."

MARTHA: "Well, I guess I'm glad he took the risk."

YOU: "Me too. With that in mind, I'm hoping we can brainstorm for a few
minutes about whom you know and care about whom you would like to bring the
benefit of my process to, as George did with you."

MARTHA: "Well, I guess in the way you put it, how can I not take the same risk
George did?"

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The "Money in Motiono'

l/ter the value has been discussed.
YOU: "Well Martha, that's great to hear. I'm glad you're seeing the value of my
work. And, of course, I hope to continue to be of value to you through my service
and in other ways.

With that in mind, I have an important question to ask you."

MARTHA: "Okay."

YOU: "I'm hoping \4.'e can brainstonn fbr a few minutes about whom you know

and care about who just rnight benefit from the work I do. Could we do that for a

few minutes?"

MARTHA: "Sure. I guess so."

YOU: "Great. I'd like to suggest solne categories of people whom I serve quite
well, and you can tell me if you know anyone in these categories. Fair enough?
("Yes.") Great.
"Who do you know whom might also be selling their business - as you liave
just done? ...
"Whom do you know who is about to retire?" ...
"Whom do you know who rright be changing jobs and, with that, may need
help in moving their 401(KX" ...
"Whom do you know who might be inheriting an estate from a parent who has

recently passed away?" ...

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The o'Met Through a Referral"

AJier the vcrltte has been discussed.
YOU: "Well Martha, that's great to hear. I'm glad you're seeing the vaiue of my
work. And. of course, I hope to continue to be of value to you through my service
and in other ways.

You know, if it weren't for George, we never would have tnet. Guess we both

need to thank George."

MARTHA: "Already have."

YOU: "Great. With that in mind, I think we should talk about the next person to
benefit from this process. I'm hoping we can brainstorm for a few minutes about
whom you know and care about who might just beneflt from the work I do. Could
we do tl:rat for a few minutes?"

MARTHA: "Sure. I guess so."

YOU: "Great. Last week you mentioned a co-worker. I think her name is Brenda.

Do you think she rnight find value in the work I do?"

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The "Mission to Serve"

l/ter the value has been discussed.
YOU: ooWell Martha, I'm glad you're seeing the value of my work. And, of
course? I hope to continue to be of value to you for a long time to corle.
You know, if it weren't for George, we never would have met. Guess we both

need to thank Ceorge."

MARTHA: "Already have."

YOU: "Great. You know, there are many people who never do the important work
you've done. They never take a tirne out to get clear on their financial future and
put some strategies in place. This, as you know is a shame. They set themselves,
their families, and even their businesses up for disaster.
I'm on a mission to reach these people. And I'm hoping you can help me. I'm
wondering if we can brainstorm for a few minutes about whom you know and care
about who just rnight benefit from the work I do. Could we do that for a few
minutes?"

MARTHA: "Sure. I guess so."

YOU: "Great. As we get started, keep in mind that many successful people -

people you would think have done this important work - have not done the work, or

have serious holes in their plans.

Last week you mentioned your fonler partner in your last business. Are you

still in touch with him and do you think he'd take my call?"

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The oocift"
l/ter the valtte has been discussed.
YOU: "Well Martha, I'm glad you're seeing the value of my work. And, of
course, I hope to continue to be of value to you for a long tin-re to come.

You know, if it weren't for George, we never would have met. Guess we both
need to thank George."

MARTHA: "Already have."

YOU: "Good. In fact, I think George gave us both a real gift. It is a gift to me,
because I get to work with such a fine person as yourself, and a gift to you, because
now you've done some important work. You kuow, there are many people out
there, even very successful people, who are getting no advice, bad advice, and
incomplete advice. This, of course, can be disastrous.
I'm wondering if we could brainstorm a minute on whom you care about and

whom you would like to give the same kind of gift George gave to you?"

MARTHA: "Makes sense."

YOU: "Great. I know you're active in the Cystic Fibrosis cause. Maybe we can

starl there. Think of those folks. Who cornes to mind whom you would like to
make sure has done this important work?"

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The'oHigh-Trust Referral"
AJier the value has been discussed.
YOU: t'Well Martha, I'm glad you're seeing the value of my work. What you've
done is important. With that in rnind, I have an important question to ask you."

MARTHA: "Okay?"

YOU: "I'm wondering if we could brainstorm for a few minutes about whom you
know who might benefit from my work. Could we do that for a minute?"

MARTHA: "Sure, I guess so."

YOU: "Good. Let's start with the people with whom you work. As you consider

your colleagues, whom would spend a few minutes with me, just because you said
to?"

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The *How I'll Contact Them"

l/ier the valne has been discussed.
YOU: o'Well Maftha, that's great to hear. I'm glad you're seeing the value of my
work. And, of course, I hope to continue to be of value to you through my sen,ice
and in other ways.

Martha. I have an irnportant question to ask you."

MARTHA: "Okay."

YOU: "l'd like to brainstonl fbr a few minutes about whom you know and care

about that just might benefit from the work I do. But before you answer, let me

explain how I'd go about contacting anyone you rnight rnention.

Actually, I'd contact them in much the same lnanner I contacted you. First, I'd
give them a call to see if they're open to a quick meeting. I think we started wit}r a

cup of coffee. Then, if they're open to it, we'll meet for coffee; I'11 explain my
work, ask them a few questions and see where that takes us. If they're not
interested. that's the end of it.

With that in mind, could we brainstorm about whom you know, whom you care
about, whom might flnd value in the u,ork I do?"

MARTHA: "sounds fine to me.'

YOU: "Great. First I'd like to show you a profile of the type of person I serve the
best. You'll see they are people much like yourself. ..."
"Now that you've seen this, let's begin with the folks in your trade association."

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The "Not Sure How to Approach Them"

Afier the value has been discttssed.
YOU: "Well Martha, that's great to hear. I'm glad you're seeing the vaiue of my
work. And, of course, I hope to continue to bring value to you. With that in rnind, I
have an important question to ask you."

MARTHA: "Okay."

YOU: "I'rr hoping we can brainstorm for a few minutes about whom you know

and care about whom might just benefit from the work I do. Could we do that for a
few minutes?"

MARTHA: "Sure."

YOU: "Great. I want you to think of people you really like and care about. And I
want you to think about those people whom you really think should know about the
work I do, but you're not sure how to go about bringing this up to thern? Make
SCNSC?,,

MARTHA: "Well, I guess so. Let rne think. Actually, I've thought about telling

my brother about you, but I'm afraid he wouldn't take me seriously."

YOU: "Interesting. Let's talk about that. ..."

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These are but a few of the myriad of combinations that can work. Every
circumstance will be different. It's hke jazz.
A jazz musician has a basic melody and structure on which the musical piece is
based. Within that ternplate, he/she has a great deal of freedom of expression. The

sarle is true with the Unlimited Referralse Marketing System. Now you have the
basic template to follow. It's up to you to put yourself into it. Make it genuine.
How do you make it genuirre? Find the words that work best for you. (When I
say "work best." I don't necessarily filean, "feel most comfortable" - though that
does neecl to be taken into account. By "work best" I rnean produces results.) So,

find the best words and then practice like crazy. Then start asking like qazy. The

technique will fade into the background and the beautifirl, artful jazzwlll take over.

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Dealing wlth Referral Obiections

The truth is, if you follow my system for becoming referable and asking for
referals in the right way, you won't get many objections. But, if you're asking
often enough, you're liable to get one every now and then. This work contains a
powerful strategy that will help you turn the following obstacles into opportunities.

"I don't give referrals."

"I can't believe no one's called you."
'oGive me some business cards to pass out."
"I'd like to contact them first."
"Let me think about it."
6'I'm not sut'e how to approach them."

'oHe already has an advisor.'o

For most, this objection stuff is probably the most difficult part of the referral
process. Most people don't know what to do when a client objects to a request for
referrals. So, most people freeze and bail out too quickly. The goal is to hang in
there just a bit to explore the objection and see if there's hope in re-framing the
client's perspective.

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The Ohjection Formula

So, assuming you are referable, and assuming you're asking in the most

effective way, here's the formula you should follow when those inevitable
objections hit.

STEP #1: Validate Their Position

Whatever they say, it's okay. Let them know it. You've heard it before. Then

don't use the word "bllt." This erases your validation. Try transitioning with the
word "and."

STEP #2: Get Permission to Explore

You want to continue this conversation carefully. Getting permission to
explore their perspective is a good way. It can be sornething as simple as "Can I
ask you a quick question about that'?"

STEP #3: Explore & Re-Frame Their Perspective

Now we want to ask a few questions and try to figure out the objection behind
the obiection. The initial objection is usually an intellectual response such as "I
don't give referrals." But the real objection is usually an emotional response "l had

a bad experience in the past and I don't ever want that to happen again."

STEP #4: Collect Referrals

If you've been able to re-frame their thinking (example coming), you can move

onto collecting a few nafiIes. If not, you proceed to the next step instead.

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STEP #5: Back Off and Plant a Seed

If your client just doesn't want to go there, you have to respect that. Back off
and live to ask another day. Quite often you may ask for refemals, not get any, and

3 months later get a referral frorn the client. So you always have to ask.
When you do back off, plant a seed at the end. "Bob, that's fine. We don't
have to talk about referrals right now. One simple request, if you run into anyone
whom you think might get value from the work I do, don't keep me a secret. Fair
enough?"

Here are some script templates that will allow you to receive the objections, and

then move into a conversation about the objection without pressuring or hurting the
relationship.

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Objection #{ r ffl Don't Give Referrals"

Here's a possible conversation you can have with this objection:

YOU: "l was hoping we could brainstorm for a couple of minutes about whom

you care about and whom could find value in the work I do. Could we do that for a

minute?"

CLIENT: "I don't give referrals."

YOU: "Oh, that's fine. Many folks don't like to give referrals. Can I ask you a

quick question about that?"

CLIENT: "Well, I guess so."

YOU: "A few clients have told rne they don't like to give referrals. It seems there
are usually two main reasons. Either they've had a bad experience and they don't

want anything like that to ever happen again, or they're not sure how their friends
or colleagues might react to their name being given out. I'm curious, what's true
for you?"

CLIENT: "We11, actually, I've had a couple of bad experiences with refeffais."

YOU: "Somy to hear that. What happened?"

CLIENT: "I gave my best f iend's nalle out to a car salesman. This guy bugged

my friend for two months. My buddy, to this day, won't let me forget it. l've
sworn to not give out another refemal again."

YOU: "I can appreciate your reluctance. I'm wondering if you might indulge rne
for a second. I'd like to explain how I make contact with the ret-en'als I receive. If
you feel comfortable with that, we can go on. If not, it's no big deal. Okay?"

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o'I guess so."

CLIENT:

YOU: o'Thank you. I'd probably contact them much the same way I contacted
you. I'd call them to let them know their name calxe up in conversation. If you feel
better calling them first, that's fine with me. In the first conversation I'd see if I
could set up a quick meeting. Then we take it from there. You may recall we
started with a cup of coffee on your way to work one motning. I promise, I would

do nothing to jeopardize my relationship with you, or your relationships with

anyone you know. What do you think?"

CLIENT: "sounds okay I guess. Let's try one, and see how it goes. I do trust
you to not emban'ass me. If it works, I may have a few others for you."

Read this again, with an eye for how I ernployed the fonlula. You'll see that I

really validated the client's position. I even gave them a multiple choice of how
others feel. In this case I got a refemal. If the client didn't want to go there, I u'ould
have backed off and planted a seed. Let's take another common objection.

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Objecti an #2; ffl Gan't Believe No Onets Called Yout'

CLIENT: "I've been telling a lot of people about the work I'm doing. I've given
your name and nurnber out to many of them. I can't believe no one's called you

yet."

YOU: "I appreciate all the good press. I'm not surprised that no one's called yet
though."

CLIENT: "Really?"
YOU: "Yeah. You see, most people never get around to doing the irnportant work

you've done. They have put it off for a variety of reasons. I've discovered that
unless we can find a way to be proactive, rnany people go without this kind of help.

The sad part is they are, often times, setting themselves up for disaster. That's why
I'rn on a mission to bring this work to others.
I have an idea. I'm wondering if we could identify one or two of those people
with whom you've discussed this work. Then, together, figure the best way for me
to make contact with them. The worst thing that can happen is that I discover

they've done the important work, and they're in great shape. On the other hand, I
might discover a hole in their plan, much as I did with you. In which case, you'll be
a hero for getting us together. Sound fair?"

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Objection #3; '(Give Me Some Business Gards"

CLIEI\T: "Tell you what. Why don't you give me a ferv of your business cards
and I'll pass them out to a few people."

YOU: "Sounds good. Can I ask you a quick question?"

CLIENT: "Sure."

YOU: "I was just wondering something. Past experience has told me that when I

ask for relbrrals and people ask to have some of my cards, it usually means one of
two things. Either, they really do have some folks they want to talk to about me.
Or, they aren't really comfortable being asked for referral - which is fine - so they

say "no" politely by asking for some of my cards. I don't want to make you
uncomforlable. I'm curious, which is true for you?"

CLIENT: "We11, that's interesting... I guess I'tn okay with referring people to
you, I just want to tell them about you first and make sure they're interested before
you call them?"
YOU: "l car appreciate that. Sounds like you want to make sure you don't
jeopardize your relationship with them."

CLIENT: "I guess that's true."

Reliarne #l

YOU: "Tell you what. As you rnight imagine, it's always better for me to be

proactive, rather than reactive. Here's what I ask and tell me if you're okay with
this. Every time you give my card to someone, you say good things about me - of
coLlrse. And if they seem receptive, you can try to gain permission to have me call

them. If they say "okay" then you'I1 let rne know. Fair enough?"

CLIENT: "You've got a deal."

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Reframe #2
o'Tell you what. I can certainly understand and appreciate you wanting to
YOU:
call these folks before I do - to introduce me. Why don't we, together, craft the
best approach? As you think of people who you feel should know about the work I

do, we can talk about the best way to approach them, the best things to say, etc.

Make sense?"

CLIENT: "Yes. It does. The first person who comes to mind is my sister Sarah.

She just had a new child - her second - and I know they're doing very well

financially. I suspect they don't have a comprehensive financial strategy though. "

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Objecti on #4= r'Let Me Contact Them Firsttt

CLIENT: "I have a few people in mind, but I'd like to contact them first."

YOU: "Wonderful. I always appreciate a personal introduction. Can I ask you a

quick question?"

CLIENT: "Of collrse."

YOU: "The last thing I want to do is pursue something that rnight make you feel

uncomfortable. Sornetimes when clients tell rne they want to contact some people
first, it's because they really harre some people in mind whom they know will
benefit frorn this work, and they're just not sure how their friends or colleagues
might react to a call from me - so they want to make sure it's okay. On the other
hand, sometimes, I've discovered, when sofile clients say they want to contact a few
people flrst, it's really their polite way of saying "l'm uncornfortable with refen'als"

and they're letting me down easy. Either is fine, I'm just curious what's true for

you?"

CLIENT: 'oWell, actually, I do have two people in mind. And you're right, I'm
conceped about their reaction and want to make sure it's okay to have you call
thetn."

[NOTE: lf the client had said, "l really am uncomfortable" you revert to the
formula in Objection #1 and keep going.l

YOU: "I appreciate that. I'm curious, what are you likely to say to them?"

CLIENT: "Why? Is there a good way and a bad way to talk about your work?"
YOU: ttWell, maybe not sO muCh "good" or "bad," maybe "more effeCtive" and
"less effective." Here's what I've seen work the best. It's not usually a good idea

to discuss the specifics of the work we did together. In most cases, the work I do
for someone else may not be the same thing I did for you.
Here',s what I think you should say - something like, 'Brenda, I've been

working with this great Financial Services Professional, his naffte is Bill. He's very

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sharp, very cleative, and really got me thinking in new ways. I'm the most clear
and confident about my financial future I've ever been. I really think you should

take his call. He won't bug you or try to se1l you anything. He'lljust ask you a few

questions, and in a few minutes you can decide if it's worth any more of your time.
I think we got started with a cup of coffee after his initial phone call.'
How does that sound? Could you say something like that?"

CLIENT: "Absolutely, It is the truth."

YOU: "Glad you feel that way. Now let's talk about whom you'll be calling,
when you're likely to call them, and I'11 be ready to take over from there."

CLIENT: "OkaY."

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Objection #5: ffLet Me Think About It"

CLIENT: "You know, I think I'd like to think about that and get back to you."
YOU: "I understand. Can I ask you a quick question?"
CLIENT: "Of course."
YOU: "The last thing I want to do is pursue something that might make you feel

uncomfofiable. Sornetimes when clients tell me they want to think about it, it's
because the really have some people in rnind who should benefit fiom this work,

and they're just not sure how their friends or colleagues might react to a call tiom
me, so they want to think about the best way to introdr"rce me to them. On the other
hand, sometimes, I've discovered when soffle clients say they want to think about it,

it's really their polite way of saying "I'm uncornforlable with referrals" and they're
letting me down easy. Either is fine, I'm just curious what's true for you?"

CLIENT: "Well, I guess I am a bit uncornfortable about referrals. Not that I

don't trust you. I do. And I like what you did for me. I'm just not sure about
giving referrals."

YOU: "l understand completely. Some people are Llncomforlable giving ref'errals.

Some tell rne that they've had a bad experience in the past. Others tell me they're

not sure how their friends or colleagues might react. I'm curious, which rnight be
true for you in this case?

[NOTE: Now you continue on with the formula from Obiection #1]

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Objection #6: 'rl'm Not Sure How to Approach Them"

CLIENT: "I guess I'd be willing to see whom we might help. But I'm really not
sure how I'd approach these people. We're really quite private about our finances."

YOU: "I understand. First of all, let me remind you of the fact that all the work
we do is confldential. Should you introduce me to anyone, I would never tell him

or her about the work we've done. That should only come from you. Okay?"

CLIENT: "Yes. Thanks."

YOU: "Now, on how to approach someone. I agree that the approach is very

important. Our approach should be something you, and they, feel very cormfortable
with. Generally I ask my ciients to make contact first - to let them know why I'm
calling. Sometimes clients like to introduce me in person - usually ovcr a meal, a

round of golf, or other rleans. Others just like to leave a voice message or send an
email. Should we identify one or more people who might benefit from my work?
How do you think you would introduce me?"

CLIENT: "Well, I like the idea of introducing you over lunch, or maybe breakfast.
But I'm not sure what to say to set it up."

YOU: "Maybe I can help with that. but wouldn't you agree that how we approach
someone, might depend on who they are?"

CLIENT: "I suppose so."

YOU: "That's been my experience. Tell you what. Let's see if we can brainstorm
about a couple of people you'd like to introduce to my work, and then we'll
customize our approach to each person?"
CLIENT: "I'm willing to give it atry."

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Objection #7= "He's Already Working with Someone.t'

YOU: "What about your brother Bob. Do you think he should know about the
work I do and might be open to an introduction?"

CLIENT: "Well, Bob would make a great client for you, but he's already

working with someone."

YOU: "Great. That means he knows the value of professional advice. People like

that are usually great matches for the work I do. First off, why do you think he'd be

a great client for me?"

o'He's of
CLIENT: rnaking a great income. I'm pretty sure he has a lot
investrnents. And you're right; he knows the value of advice. He tried to manage
his investments for a short titne, and didn't do very we11."

YOU: "So, how familiar are you with Bob's relationship with his advisor?"

CLIENT: "Well, not very. He's said a few good things in the past. Not sure
now."

YOU: "He may be very happy and he may not be. About 50% of the people I get
introduced to want to meet with me, even though they already have an advisor.
Sometirnes they're ready for a change or just want a second opinion. Tell you what,

why don't you give Bob a call? Tell him that you think I rnight have something to
offer, and see if he's at least open to a call from me. If he were interested, that
would be great. If not, that's fine too. I just don't want to assume he's completely
huppy with his current financial services professional, when he may not be. Make
SENSC?,,

CLIENT: "Sure. Let's give it a try."

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Back Ott #li ris0o/o of the people l'm referred to want to

meet with me."
Iftrowing how to back off from your request for referals is as irnportant as

knowing how to ask. Have you ever been on an appointment with a client - you
asked for referrals - they didn't want to go there - you felt awkward - and the
meeting ended with a slightly negative feeling? Knowing how to back off from
your request irn ill help you alleviate this problem.
We'lI pick up our script at Step #3 of the 4-Step Process for Asking -
Permission to Brainstorm. We'll explore the objection. Once we realize our client
just doesn't want to participate in the refen'al conversation, we'11 back off.

YOU: "I was hoping we could brainstorm for a couple of minutes to see if we can
identify sorxe people who should know about my process. Could we try that for a

minute?"

CLIENT: "I don't give referals."

YOU: "I understand. Many folks don't like to give referals. Can I ask you a

quick question about that?"

CLIENT: "Well, I guess so."

YOU: "A few clients have told rne they don't like to give referrals. It seerls there
are usually two main reasons. Either they've had a bad experience and they don't

want anything like that to ever happen again, or they're not sure how their friends
or colleagues might react to their name being given out. I'm curious, what's true
for you?"

CLIENT: "Well, actually, I've had a couple of bad experiences with referrals."
YOU: "Sorry to hear that. What happened?"

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CLIENT: "I gave my best friend's name out to a car salesman. This guy bugged

my friend for two months. My buddy, to this day, won't let me forget it. I've
sworn to not give out another refer:ral again."

YOU: "I can appreciate your reluctance. I'm wondering if you might indulge me
for a second. I'd like to explain how I make contact with the referrals I receive. lf
you feel comfortable witli that, we can go on. If not, no big deal. Okay?"

CLIENT: 'oI appreciate your elforts here, but I'm just not comfortable with
this."

YOU: "l understand. We don't have to do this. Let me just tell you where I'm
coming from. About 50% of the people to whom clients introduce me actually want
to sit down and meet with rne. Either they're not happy with their current advisor,
or their situation has changed enough that they want a second opinion. A11 I ask if
that you run into someone - friend, family member, or colleague - who you think

should know about the work I do, that you don't keep me a secret and find a way to
introduce me to thern. Fair enough?"

CLIENT: "That sounds fine."

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Back Otf #2= rtMost people never take the time to do this
important work.t'
When do you back off? My rule of thumb is "2 and out." When, after you've
begun to explore the objection, the client repeats the same objection, gives you

another objection, or in some way lets you know he doesn't want to play, it's tirne

to back off.

In this script, we'll take it from the second objection, and get out quickly, while
planting a seed.

CLIENT: "I'm just not comfortable with this."

YOU: "I understand. Let me just tell you where I'm coming fiom and r.ve'll leave it
at that. Most people never take the time to do the important work that we've done
together. They avoid serious planning with regard to retirernent, their children's
education, as well as considering the important issues of proper life insurance and

disability insurance. So, when in conversation with a fiiend, family member, or

colleague, you determine they should probably know about the work I do, I trust
you won't keep me a secret. Make sense?"

CLIENT: "That's fine. In fact, my son really should be talking to you. He makes
a great income and I suspect he's putting things off. It may take some titne, but I'11

probably get him to give you a call."

YOU: "sounds great. I'll look forward to it."

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Remember
The two most important things to remember with referral objections are:
1. Don't try to overcofile the objection, just explore it to see if
there's an objection behind the objection.

2. If the client shows heavy resistance, you need to back off

and live to ask another day. You don't u,ant to ruin your

chances of referrals later, by pushing too hard now. And, you don't want to
"wimp out" and miss a great opportunity tirat's there for the making.

A clecision to not give referrals is usually not a logical one, it's an unconscious

emotional decision based on solne fear the client has. Address those fears, and you
have a chance to reframe their thinkirrg and get referals. Don't address their fears,
and you'll likely get nowhere.

So as you can readily see, the objections that come up in this process need not

be intirnidating. Your goal is to be comfortable asking for referrals and to be

comfofiable when the objections come up. Then, you must be willing to stay with
the objection, at least for a little while, to see if it can be turned around. Either way,
if you are asking for refemals on a regular basis, each request will not be so critical.
Sometirnes it works, sometitnes it doesn't, but since you're asking all the time,

you'|l find more than enough people willing to play the game and who will keep
you well fed with a continuous flow of referrals.

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Upgrading Referral Gonnections

When you get a referral, you don't just want a name and phone number. This is
merely a waltn cold call. You want to learn as much about this prospect as

possible. The more you know about them the more excited and comfortable you'll
be about making contact with them. Also, you'Il stand a rnuch better chance of
having a quality conversation with them right off the bat.
In addition, you want your refemal source to help you make a better connection
with your new prospect. Remember, your client is identifying one or more people
whom they want to help through the work you do. We will assume they have a

vested interest in us making the connection.

Of course, every situation is different. The qnestions you want to ask to qualify
the prospect rnight be different than what another person asks. You tnust qualify

your prospect. Make sure they fit your ideal client profile. Then, after that's done,
there are some other questions you rnight want to ask.

The following script covers some of the "non-qualifying" questions you want to
ask. These can be mingled among the questions you use to see if they fit your
specific situation:

YOU: "Tell me how you know George?"

CLIENT: "We rnet through a group of friends about 10 years ago. We just hit it
off and became good friends."

YOU: "Great. Why did you think of George first? Where do you see the fit?"
CLIENT: "First, he's a great golter. I know you like to play golf. But more
importantly, I think he's been concerned about how he's going to get his 2 kids
through school and still have enough rnoney to retire very comfortably. Both are
big issues for him"

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YOU: "As they are for many people. I appreciate you telling me about this, but
I'm wondering about something. You've just shared information that lnany people
might consider very private. How do you think I should handle this? Should I just
ask some good questions and let it come from him? Is it okay that I know this?

Help me here."

CLIENT: "Hmnl. That's a good question. You know, it's probably okay that I
told you. But I think you should let it come from him."

YOU: "You got it. When I call George, what kind of person am I going to

encounter? Could you give me a sense of his personality?"

CLIENT: "How do you mean?"

YOU: "Well, is he a very open person like you - easy to let others in? Is he a
private person? Just a sense would be helpful."

CLIENT: "Actually, though we're good friends, George isn't nearly as outgoing

as I am. He's definitely a bit rnore cautious about making new fiiends. I think
mentioning my name will help a lot, though."

YOU: "That's good to know. Thanks. Tell rne sornething you like or admire

about George?"

CLIENT: "Well, I certainly admire his golf game. Wish I had a 5 handicap."
YOU: "Yeah. Me too! Anything else?"

CLIENT: "George is one of the most generous people I know. He's always

involved in some type of charity or volunteer work. Lately he's been active in the
Boys and Girls Clubs. He's very passionate about gittirtg brtck."

YOU: "l guess I have two more questions. First, what do we, you or I, need to say
to George to get hirn interested in sitting down with me?"

CLIENT: "That's a good question. I think I need to talk to him about what he's

doing, or not doing, with regard to funding his children's education. I'll tell him we

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have a great plan in place, thanks to you, and that he shouid listen to what you have

to say - about that and other things as well."

YOU: "That would be perfect" One final question... How would you like to

introduce me to George?"

CLIENT: "What do you mean?"

YOU: "We11, I think he'd feel more cornfortable if I was 'introduced' to hirn in a

way that fits your relationship with him. For instance, solne clients like to
introduce me with an email message. Some will leave a voice mail message.

Others just want to talk to their friend first. I've found the best introduction - for
all concemed - to be an in-person introduction. I'd enjoy taking you and George
out to lunch or dinner - or even breakfast on the way into work. You could
introduce him to me in person. What do you think of that?"

CLIENT: "Let's give it atry. The worse thing he can say is 'no.' I'11 set it up. If I
don't call you in a couple of days, you can check in with me? Okay?"

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Galling Your New Prospect

Note: any calls you make to prospects and clients must be consistent with your company's rules and
the state and federal Do-Not-Call Regulations. lf in doubt, run your scripts by your legal department.

Version #1 - Client or Prospect Introduced You

0pening:
Hello (prospect's name), this is (your name) with XYZ Financial Services. in Laurel,
Maryland. I know you're busy, the reason i'm calling is that your name recently came
up in a conversation I was having with (ref-errer's nante).

I ntroduction:
Did George tell you that I would be calling/
Great. By the way. George is a real admirer of your golf game. Do you play otten?

Bob, I'm curious. Wliat did George have to say to you about the rvork I do?

Do you curently have a close working relationship with a Financial Services

Professional'/

Yes (working with a financial professional)

That's great. Then you know the importance of the right kind of professional advice.
I'm curious, have you and your advisor created a specific financial program fiom
r.vhich you make most of your financial decisions?

Yes (have a plan)

Of course, if you're completely lrappy with your program and your current advisor, we
may not have anything further to discuss. On the other hand, there may be some ways
I can help you that your current advisor is just not aware of. Based on the good things
George said about me, would you be open to scheduling a meeting to get a fresh look
at your situation?

No (have not done o plan)

I thinkone of the reasons George was so interested in introducing you to me, is
because of the process we use to setting proper financial goals and then creating a
program to make sure you're rnaking progress toward those goals.
May I ask you a f'ew of quick questions?
o Have you set very specific financial goals?
r How has your progress been toward those goals'l
o Are you confident you'll reach your goals?
o Do you save regularly or do you typically invest in lump sums'/ In what way?
o What is your greatest concem these days about your financial goals?
Based on this conversation, I really think I'll be able to help you. I'd like to suggest
that we schedule a no-obligation meeting to review your situation in greater detail and

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. Referral Coach lnternational

to <liscuss the services we offer. Whether we end up working together or not'

I'm
confident you'll find this meeting to be a valuable use of your time' Do you have your
calendar handy?

No (not working rvith a {inancial professional)

I think one of the reasons George was so interested in introducing you to me, is because of
the process we use to setting proper financial goals and then creating a pro-qraln to make
sure you're making progress toward those goals.
May I ask you a few of quick questions'?
o Have you set very specific financial goals?
o How has your progress been toward those goals? (Confi<icnt vou'll reaclt your goals'l)
o Do you save regularly or do you typically invest in lump sums?
. Are you participating in an IRA or retirement plan at work?
r What is your greatest conceffl these days about your financial goals?
Based on this conversation, I really think I'll be able to help you. I'd like to suggest that
we schedule a no-obligation meeting to review your situation in greater detail and to
discuss the services we of-fer. Whether we end up wolking together or not, I'm confldent
you'Il fincl this n-reeting to be a valuable use of your time. Do you have your calendar
handy?

Version #2 - Client or Prospect Did Not Introduce You

0pening:
Hello (prospect's name), this is (your name) with XYZ Financial Services in Laurel,
Maryland. I know you're busy, the reason I'm calling is that your name recently came
up in a conversation I was having with (ref-errer's name).

Introduction:
Did George tell you that I would be calling?

No. Well, I guess he got busy. I'm certainly sorry to disturb you. I guess we have a couple
of choices.
o'pave
We can wait for George to call you and the way" for this call. Or, if you have a
couple of minutes, I can go ahead and tell you why I'm calling. Which do you pret-er?

No (Let's wait for George)

That's fine. I completely understand. I hope to speak to you again soon.

Yes (Tett me whY You're calling)

At XyZ,we help individuals, such as yourself, plan very carefully for their financial
future. I'm curious. Do you currently have a close working relationship with a
Financial Sertrices Professional?

(From here, refer to script #l above)

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SAMPLE EMAIL INTRODUCTIONS

Note: Some companies do not let their reps prospect via email. Before you send any email to any
prospect, check with your compliance department to stay within your company rules and guidelines.

We've f'ound that a great way to be introduced to a new prospect is through an email your
referral source setlds to the prospect. As you and your referal source are deterrnining the
best way fbr you to be introduced to your prospect, you might suggest that they introduce
you through an email and CC (copy) you with their message. When you see the message
has been sent, you can then follow up with the new prospect via email, phone, or both.

To increase the likelihood of this introduction being made, and to make it easier for your
ref-errals source, you can email a "suggested" introduction for thetn to consider. Of course,
they can edit this introduction to suit their style. Below are two introductions yotl can copy
and paste into a file for easy access. Of course, yoLl can adjust these introductions as you
see fit and write a few more of your own. As you send them to your ret-erral source, insert
your name into the appropriate places.

Email Introduction #l

George - I'rn writing to tell you about a financial service professional with whom
I've been working. Monica Green has been helping tne for about two months and
she's done some great work. We had some holes in our plan that I wasn't even
aware of. She's creative and quite sharp.

I've given Monica yollr phone number and have asked her to give you a call. I don't
know if you'll want to work with her or not, but I do reconllnend you take her call
and chat with her for a few minutes. I think you'll agree that she knows her stuff.

Let me know how it goes.

Email Introduction #2

George - I've been working with very sharp financial serices professional the past
few weeks ancl l really think you should meet him. Bob Smith is with XYX
Financial Services and he's really gotten rle on track. Tlrrough asking good
questions, he discovered weaknesses in my financial program that rny previous
financial professional wasn't aware of - or didn't seem to care about.

Not only do I think you should take his call, but I think you should sit down with
him and get a glirnpse into how he works. I think you'Il be irnpressed.

Either way, let me know how tt goes.

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PRE-APPROACH LETTER #{

Note: any letters you send to prospects and clients must be consistent with your company's rules and
should be submitted to your compliance/legal department. Also, follow-up calls to prospects must be
conducted in accordance with your company's telemarketing rules and Do-Not-Call rules.

Straight & Simple

November 14,1492

Mr. John Hanks

2345 Oak Street
Springfield, MD 24200

Dear Mr. Hanks,

Randy Talbot asked me to contact you. Your name calne up in conversation

when I was meeting with Randy the other day. Randy thinks you rnight find value
in the type of work I do.

Neither Randy nor I assume you need my help, but we both thought it would
be worth a quick conversation.

I'm writing this note to let you know I'll be calling in a day or two to speak
with you briefly over the phone to determine if there's a reason for us to get
together. I look forward to speaking with you.

Sincerely,

Martha Jones, CFP

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PRE.APPROAGH LETTER #2
Note: any letters you send to prospects and clients must be consistent with your company's rules and
should be submitted to your compliance/legal department. Also, follow-up calls to prospects must be
conducted in accordance with your company's telemarketing rules and Do-Not-Call rules.

Playful

November 14,1492

Mr. John Hanks

2345 Oak Street
Springfield, MD 20200

Dear Mr. Hanks,

Randy Talbot asked me to contact you. And when Randy says'Jump," I

simply ask "how high?" Seriously, your name came up in conversation I was
having with Randy the other day. I've been doing some important financial work
with Randy and he thought you should become aware of the work I do.

I suspect you're thinking, "What's this guy trying to sell me?" Well, I don't
know if I have anything to sell to you. On the strength of Randy's
recommendation, I'd like about 5 rninutes of your time over the phone. At that
tirne, we can both determine if there's a reason for the conversation to continue.

Please expect my call in a day or so. I look forward to speaking with you.

Sincerely,

Martha Jones, CLU

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PRE.APPROAGH LETTER #3
Note: any letters you send to prospects and clients must be consistent with your company's rules and
should be submitted to your compliance/legal department. Also, follow-up calls to prospects must be
conducted in accordance with your company's telemarketing rules and Do-Not-Call rules.

Playful & Customized

November 14,1492

Mr. John Hanks

2345 Oak Street
Springfield, MD 2020A

Dear Mr. Hanks,

Randy Talbot asked me to contact you. I have to tell you, you have areal
admirer in Randy. When we speak next, I'11tell you what he said.

Anyway, your name came up in conversation I was having with Randy the
other day. I've been doing some irnportant financial work with Randy and he
thought you should becorne aware of what I do.

I suspect you're thinking, "What's this guy trying to sell lrle?" Well, I don't
know if I have anything to sell to you. On the strength of Randy's
recomfftendation, I'd like about 5 minutes of your time over the phone. At that
time, we can both deterrnine if there's a reason for the conversation to continue.

Please expect my call in a day or so. I look forward to speaking with you.

Sincerely,

Martha Jones, CFP

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SAMPLE CLIENT TESTIMONIAL I.ETTER

This is an example of the type of letter a client might write for you. You can use this type of letter
to warm up your calls to prospects referred by the writer of the letter. You can also use this type of
letter in your general promotional packets. The more specific the letter the better, but make sure your
letters do not include specific portfolio performance. Often times, clients will ask you to write these
letters; then they'll send it to you on their letterhead. lf you write the letters yourself, make sure they
all are significantly different. lt's always a good idea to run these ideas by your compliance / legal
department.

Mr. George Michaels

Michaels Financial Services
1000 Main Street, Suite 10
Springfield, MD 20200

Dear George,

We're writing to tell you what a wonderful service I feel yoll performed for us.
Julie and I were very impressed with the time and cale you took to assess our
situation before recommending any solutions.

You clearly got us thinking about our financial future in ways we haven't
thought before. You helped us see a bigger picture than what we were iooking at.
And you explained things very clearly all along the way.

Perhaps most importantly, we felt absolutely no pressure from you. You were
confident in what you believed was right, and that confidence helped us make the
best decision. But that confidence did not come across as pushy.

We now feel our financial future is in great shape and if anything unforeseen
should happen, we feel we have the right insurance in place. Thanks again for a job
well done. We're looking forward to continued work with you.

Sincerely,

Fred & Julie Terman

PS - We would never hesitate to recommend you to our friends and farnily.

NOTE: The experiences of the people described in this material may not be
representative of the experiences of all of my clients. Furthermore, the experiences
obtained by these people are not indicative of the future experiences which may be
obtained by any of my clients.

O 2001 - 2009 by Bill Cates . Reproductlon in Any Manner is Prohibited without Permission . 800-488-5464 . Page 59
Bill Cates . Referral Scripts Book for Financial Professionals . Referral Coach lnternational

What can The Referral Goach do for you?

Information-Packed Website
Visit our website: u,rnw.Ref-erralCoach.conl. While you're there, there are 4 things
you can do.

1. If you are not already a subscriber, sign up for our FREE email nervsletter "The Referral
Minute." http:i'lrvrvrv.r'ef-erralcoach.com/nervsletters/ref'erra1-minute

2. Read (and print out if you like) the FREE articles on referrals Become a Referral Coach
Member. http i/w'lyu..'.refeffal coactl.colx/flrembcrsil ogin.flhp
:

3. Check out our Referral Store. We highly recommend our Boot Camp in a Box or our
Mastery Kits as they cover all the components of the Unlimited Referrals@ Marketing
System desi gned by B ill Cates. httrr :liwrvlv.ref'erralcoach. com/refbrral-store

4. Sign up for our next Tele-Seminar or Boot Carnp.

Referral Advantage'n Video Training Program

Cates' Referral AdvantagerM Program has revolutionized the way financial
Bill
professionals are using refenals to attract more clients and increase sales! Veteran
producers are using this system to help them leverage their book of loyal clients, and
rookies get the right strategies from the very start of their career.

Check this link out:

http://www.Ie{grralcoach"Som/corpoErtelworking-rvith-,rci/video-trainiIg

For more intbrmation, call Joy in our office at 800-488 -5464 or send us an email at:
j oy@refen-al c oach. com.

@ 2001 - 2009 by Bill Cates . Reproduction in Any Manner is Prohibited without Permission o 800-488-5464 . Page 60
Bill Caies . Referral Scripts Book for Financial Professionals r Referral Coach lnternational

Seminars and Speeches

Bill Cates or a Certified Referral Coacho can deliver a powerful ref'erral seminar ot'

motivatior-ral programs designed to get producers excited about their potential. These are
high-energy, high-content programs filled with ideas that can be put to use immediately.

Bill has addressed audiences of such prestigious organizations as The Million Dollar
Round Table, Society of Financial Service Professionals, Investment Management

Consultants Association, General Agents and Managers Association, National Association

of Life Underwriters, the lnstitute for Certified Investment Management Consultants, and
MAIFAC.
Our corporate client list includes such names as: Ameriprise, Bank of America. Bank
of Montreal, New England Financial, Guardian Financial, Northw'estern Mutual Financial
Network, Merrill Lynch, Mercantile Bank. Penn Mutual, SmithBarney, Mutual of Omaha,
Canada Life, and many others.
If your group is looking for a speaker who knows his stuff and will help you increase
sales, then call our office today at 800-488 -5464 or view infbrmation at our website:

lvu,r,r,. Referra I Coa ch. c om.

Unlimited Referralso Boot Camp for Financial Professionals

Create a "conveyor belt" of great referals that drops a constant supply of high-

quality clients at your door. This boot camp will make you more confident,
comfortable and effective in getting high-quality refen'als. Using the Unlimited
Referralso Marketing System, financial professionals have as much as tripled the
number of referrals they receive in as little as a week! Among the many topics
covered: how to get referrals without asking, an easy 4-step process to ask for
referrals, a comfortable way to handle refemal-related objections, and much more.
This seminar is hands-on, practical and guaranteed. Just go to our website
www.ReferralCoach.corn/hootcamp, or call our offi ce at 800-48 8 -5 464.
mrEnnAt coAcH
Il{ T I R hl AT iO N A t

[email protected] www.ReferralCoach.com 800'488-5464

O 2001 - 2009 by Bill Cates . Reproduction in Any Manner is Prohibited without Permission . 800-488-5464 . Page 61