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Online Referral Services Profiled

Remember when the Internet promised to do everything from clean your teeth to provide high-quality leads that cost very little? Well, the reality is a bit more sobering, but there are a number of online referral services to choose from, as outlined in a recent FAIQ article. Some services deliver a precious few leads, while others provide too many low-quality opportunities. The wise advisor will have multiple sources of prospects, following the adage that if everything you are doing is working, you’re not doing enough.

Various services are profiled, mainly for individual investor leads, ranging from a take-off on to one that helps advisors get articles placed in the press, and a new one by a former FA called “FireMyAdvisor.” Obviously, attracting and closing corporate clients is different, and some would say harder — prospects are more sophisticated and are being bombarded by calls, which may dictate a different approach.

Regardless of which service you use to get in front of prospects, don’t be short-sighted. As Michael Kitces opines, “If they get you one client a year, you’re still making a good return on your investment.” Depending, of cource, on how much you paid.