New Referral Trend Emerging


SRS Coaching and Consulting’s Rachel Staggs has identified an emerging opportunity in the development of successful referral opportunities for advice businesses.

SRS Coaching and Consulting’s Rachel Staggs …ideal clients are going to their HR departments for personal advice referrals

In a changing regulatory environment which almost demands enhanced efficiencies, Staggs has told Riskinfo of the trend she has been witnessing where more advisers are linking with the Human Resources departments of medium-to-large corporate organisations.

According to Staggs, the rationale involved in developing referral relationships with corporates revolves around the ability for the adviser to access a pool of prospects which correspond with the adviser’s ideal client characteristics.

Staggs says that in the competitive reality of today’s corporate world, more medium-to-large firms are offering their staff access to financial advice, if needed, as a value-added benefit of working with the organisation:

…this can prove to be a win/win/win opportunity

“If the adviser is able to identify the right organisation which employs a range of staff who might be a good match for their ideal client proposition, this can prove to be a win/win/win opportunity where the adviser, their prospective client and the client’s employer all gain value from the establishment of the relationship,” commented Staggs, who is in the process of rolling out a new Effective Referral Relationships Program.

Staggs said this adviser link with medium-to-large corporates is a definite trend – and one which is being embraced by both emerging as well as more seasoned advice businesses.

“Because of some of the advice stories coming out of the Banking Royal Commission and other advice scandals since the GFC, many prospective clients are going to their accountants to initially seek advice,” said Staggs, “…but a growing number are seeking that initial contact with financial advice through their employer, which presents new opportunities for those advisers and advice businesses who can establish a relationship with those organisations.”

In this clip, Rachel focusses on how to use Linkedin as a source for referral partners…