Execution Tools

Where Do Your Referrals Really Come From?

Score your client referrals and your centers of influence — the CPAs, attorneys and other professionals who could send you business. See who is active, who has gone quiet, and what asking more often is worth.

Client Referrals

The last twelve months. Best estimates are fine.

Your Clients

Client households

Referrals from clientsIntroductions, not new clients

Of those, became clients

Times a month you or your team askFor an introduction, specifically

What a New Household Is Worth

First-year revenue from a new household

Share of COI referrals that become clients

Your Centers of Influence

Every professional who has sent you a referral, or could. Use initials or a firm nickname. The rows below are a sample; replace them with your own.

Name	Type	Referrals they sent you	Referrals you sent them	Times you met

Status: Active sent 2+ Warm sent 1, or met 2+ times Dormant neither.

Referrals per 100 Client Households

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First-Year Revenue From Referrals

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Your Referral Report

Where your referrals come from, every COI ranked, and what asking more often is worth.

Where New Clients Come From

Referred households that became clients, by source.

Every COI, Ranked

COI	Sent you	You sent	Met	Status

What Asking More Often Is Worth

At your own rate of referrals per ask and referrals that become clients.

Asks a month	Referrals a year	New clients	First-year revenue

Illustrative. The asking table assumes your current referrals-per-ask and close rate hold as you ask more. Statuses are this tool's own bands. Names stay on this page and are not included in anything you submit.

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Reading Your Referral Scorecard

Most advisors say referrals are their best source of new clients, and most cannot say exactly where those referrals come from or how often they ask for them. This scorecard counts both sides: introductions from clients and introductions from centers of influence, the CPAs, attorneys and other professionals who serve the same families.

Referrals per Household Is Your Baseline

Dividing client referrals by client households gives a number you can track every year. It moves when you change something: a consistent moment to ask, a client event, a better first experience for new clients. Without a baseline, it is impossible to tell whether any of those changes worked.

Dormant COIs Are the Cheapest Growth

A professional who has already met you, or once sent you someone, is easier to reactivate than a stranger is to win. Before building new COI relationships, work through the dormant list: a meeting, a useful idea for their clients, and a clear description of who you are best for.

Relationships That Flow One Way Go Quiet

COIs who send you business and never receive any back often stop sending. Tracking referrals in both directions shows where the relationship is lopsided. A single well-chosen referral back can do more than months of lunches.

Common questions

What is a center of influence for a financial advisor?

A center of influence is a professional who serves the same clients and can introduce them to an advisor, such as a CPA, estate attorney, insurance agent or banker. Strong COI relationships are typically two-way, with each professional referring clients to the other when appropriate.

How can financial advisors get more client referrals?

Common approaches include asking for introductions consistently at a planned moment such as the end of a review, describing clearly who the firm serves best, giving clients easy ways to introduce friends and family, and tracking referrals so the advisor can see which efforts produce results.

How do you measure referral rates in an advisory practice?

A simple measure is the number of referrals received from clients over twelve months divided by the number of client households, often expressed per 100 households. Tracking how many referrals became clients and where each referral came from adds useful detail.