Closing the Referral Gap Tips, tools & strategies to help grow your business through referrals

The SunAmerica Client Referral Program

For financial professional use only. Not to be used with the public.

According to a recent survey, 91% of investors working with a financial advisor indicated that they would be willing to refer, but only 29% have provided a referral in the last 12 months.1 So, why is there is such a large gap between a client’s willingness to give referrals and how many he/she actually gives?

One key reason is that very few advisors regularly ask their clients for referrals—in fact, 82% of clients surveyed say they have never been asked for a referral. That’s why we created the SunAmerica Client Referral Program, a comprehensive referral program designed to help you close the gap and generate new business. SunAmerica has partnered with Bill Cates, one of the leading experts on building a thriving referral-based practice, to bring you one of the most complete and powerful referral programs in the industry today. The program will help you:

Maximize the number of qualified referrals you receive from clients and strategic partners

Build trust-based relationships that will make you more “referable”

Enhance your confidence and ask for referrals more effectively

3 Powerful Modules to Help You Grow Your Business Through Referrals

1. Adopt a Referral MindsetThis brochure shows how advisors can enhance their referability and what they need to do to build the foundation for growing their practice through referrals.

2. Ask for and Get More ReferralsGain valuable tips and strategies on how to ask for referrals, how to handle objections and what to do in terms of follow up once the referral is obtained.

3. Build Powerful Referral PartnershipsLearn how to maximize referrals by developing the most effective partnerships with attorneys, CPAs and other centers of influence.

Why Ask for Referrals?

1Source: Advisor Impact, 2010 Economics of Loyalty survey of more than 1,000 clients.

High-Impact Advisor PresentationsGet 15 quick referral ideas at a Lunch & Learn with your local SunAmerica wholesaler, or attend a full 1-hour overview presentation covering key components of the program, including how to ask for referrals. Please call the Sales Desk at 800-232-1230 for information on upcoming presentations.

Value-Added Sales IdeasA series of flyers and sales ideas that offer valuable tips and innovative strategies to help you generate more referrals in today’s market. Topics include client events, new referral checklist, and how to create a referral partnership action plan.

Referral Scripts This brochure features some of the most effective referral scripts from top producers and referral experts, covering everything from asking for referrals to handling objections.

Client-Approved ToolsChoose from a library of client prospecting materials, ranging from letters to postcards that you could send to clients to request referrals.

Bill Cates, CSP, CPAE is the President of Referral Coach International and a respected expert who has coached more than 50,000 financial professionals. Our new program includes many of Bill’s “referral secrets” and lessons learned from his nearly 20 years of experience coaching financial advisors. It also features some of the referral best practices from SunAmerica’s top producers.

Additional Tools to Enhance Your Referral Strategy

The SunAmerica Client Referral Program can help you take your practice to the next level

Please contact your SunAmerica wholesaler or call our Sales Desk at 800-232-1230 for more information.

• Wine tastings

• Sporting events

• Fishing trips

• Holiday events

• Theater

• Travel/tours

• Art

• Cooking classes

• Barbecues/picnics

• Lunch, dinner or breakfast

• Charity events

• Chocolate

Your Referral Checklist: 10 Things You Need to Do to Build a

Referral-Based PracticeProduce successful referral-building events

• Follow up with photos After the event, how do you reach out to prospects in a way that is professional, but not pushy?

One solution is to take digital photos of everyone who attend the event and then use these

photos to initiate a friendly follow-up. For example, you can say:

“Hi Bob, thanks for attending my event. I have some nice photos that I’d like to send you. Can you

provide me with an email or home address?”

Big parties can be exciting and impactful, but they’re also a lot of work to organize.

With smaller events, you’ll have more time to get to know everyone and to make

stronger, deeper connections. • Team up with a partner to co-sponsor events

Universities, museums, and other non-profit organizations often hold events to benefit their

institutions. If you lack the time or resources to organize an event on your own, you can

co-sponsor an event with one of these organizations. For example, you can team up with a

botanical garden to put on a gardening show. Your clients will be able to enjoy timely gardening

tips, while you’ll have the opportunity to network with both clients and prospects.

• Plan events that are tied to your clients’ specific lifestyles or interests

For example, if many of your top clients enjoy fishing, you can invite an expert from your local

bait shop to attend your event and give tips on where to land the biggest catch. Ask your “A”

clients to bring at least 2 guests. Everyone will have fun, and you’ll have the opportunity to meet

the fishing buddies of your best clients.

• Set an agenda that focuses on client benefits

If you’re using a guest speaker or planning a client workshop, it’s best to avoid a hard sales

pitch for your specific products. A better, more effective approach is to focus on educational

topics that highlight the advantages to clients, such as how to create an effective retirement

income strategy or to pay for your child’s college education. For additional sales ideas or to find out more about SunAmerica’s

comprehensive new referral program, please contact your

SunAmerica wholesaler or call us today.

Creating a Referral

Partnership Action Plan

Additional tips to help you produce successful referral-building events

• Plan events that are tied to your clients’ specific lifestyles or interests

For example, if many of your top clients enjoy fishing, you can invite an expert from your local

bait shop to attend your event and give tips on where to land the biggest catch. Ask your “A”

clients to bring at least 2 guests. Everyone will have fun, and you’ll have the opportunity to meet

the fishing buddies of your best clients.

• Smaller may be better

Big parties can be exciting and impactful, but they’re also a lot of work to organize.

With smaller events, you’ll have more time to get to know everyone and to make

stronger, deeper connections.

• Team up with a partner to co-sponsor events

Universities, museums, and other non-profit organizations often hold events to benefit their

institutions. If you lack the time or resources to organize an event on your own, you can

co-sponsor an event with one of these organizations. For example, you can team up with a

botanical garden to put on a gardening show. Your clients will be able to enjoy timely gardening

tips, while you’ll have the opportunity to network with both clients and prospects.

• Set an agenda that focuses on client benefits

If you’re using a guest speaker or planning a client workshop, it’s best to avoid a hard sales

pitch for your specific products. A better, more effective approach is to focus on educational

topics that highlight the advantages to clients, such as how to create an effective retirement

income strategy or to pay for your child’s college education.

• Follow up with photos

After the event, how do you reach out to prospects in a way that is professional, but not pushy?

One solution is to take digital photos of everyone who attend the event and then use these

photos to initiate a friendly follow-up. For example, you can say:

“Hi Bob, thanks for attending my event. I have some nice photos that I’d like to send you. Can you

provide me with an email or home address?”

If you really want to make an impression, you can even put the photo into a nice frame.

Leverage client events to generate a steady stream

of referrals in any market!

Enhance loyalty and generate more referrals using client events

How would you like to strengthen your client relationships and obtain a steady stream of referrals from top clients in a fun, relaxed environment? By running client-centered events like retirement or wine-tasting parties, you’ll have the opportunity to deepen your client relationships, meet new prospects and obtain highly qualified leads—often without even asking for referrals!

3 steps to using client events to obtain high quality referrals

1. Encourage your best clients to bring guests

Your “A” clients usually invite people who are just like them, and that means you’ll have a great opportunity to meet prospects who fit your Ideal Client Profile. Plus, events allow you to connect with your clients on a more personal level. A well-planned event will reinforce client loyalty, as well as the perception that your service is valuable. It will also be an opportunity for satisfied clients to tell friends, family and acquaintances about your services, which can lead to more referrals, even when you’re not actively seeking them!

2. Keep it simple and low-key

Client events don’t have to be elaborate or expensive to be successful. When it comes to strengthening client relationships, an intimate dinner with a small group of clients and prospects can be just as effective as a large expensive party. Plus, if you keep it simple and low-key, you can replicate the event on a regular basis, thereby increasing your client touches and enhancing your referral opportunities.

3. Be creative

Use your imagination in putting together client events that will have the most impact on your clients and prospects. Events can range from educational workshops to movie nights to all-day golf excursions. Here are some additional themes to consider:

• Wine tastings

• Sporting events

• Fishing trips

• Holiday events

• Theater

• Travel/tours

• Art

• Cooking classes

• Barbecues/picnics

• Lunch, dinner or breakfast

• Charity events

• Chocolate

Dear [Client’s Name]:

It’s been a pleasure helping you with your long-term financial needs. I sincerely appreciate the confidence you have placed in me and value you as one of my most important clients.

As always, I remain committed to providing you with the highest level of service and investment advice. One way I know that I’m doing my job right is when my clients recommend my services to friends, family members and colleagues who are looking for financial planning guidance. I hope that when this type of opportunity arises, I’m the first to come to your mind.

If you know of any individuals who might benefit from my services, I’d greatly appreciate you telling them about the work we’ve done together. You can be confident that they will receive the same level of commitment and service that you have experienced.

Once again, thank you for your business and your continued trust. I look forward to seeing you at our next review.

As always, I remain committed to providing you with the highest level of service and investment advice. One way I know that I’m doing my job right is when my clients recommend my services to friends, family members and colleagues who are looking for financial planning guidance. I hope that when this type of opportunity arises, I’m

the first to come to your mind.

Sincerely,

Are you satisfied with my services? I’m never too busy to help your friends and family!

I’m always looking for more great clients like you!

Referrals are the highest compliments that I can receive!

15 Referral Ideas in 15 Minutes

15 Referral Ideas in 15 Minutes

For financial professional use only. Not to be used with the public. Distributed by SunAmerica Capital Services, Inc.

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