Investing News and Headlines

To Jumpstart Centers of Influence Referrals, Think Outside the CPA

Financial advisors are urged to broaden referral networks beyond traditional CPAs and lawyers, embracing strategic alliances with diverse centers of influence. Mike Byrnes suggests using happy clients for warm introductions and targeting non‑traditional partners such as yacht dealers, realtors, clergy, and event planners. Cerulli Associates reports COI referrals rose to 13.9% of new clients, highlighting growing importance as organic growth becomes tougher. The article outlines practical steps for building mutually beneficial relationships while maintaining compliance and gratitude.