How To Build A COI Network

How To Build A COI Network

How To Build A COI Network

December 1, 2015

by Kristen Luke

PDF | Page 2

Carlson Capital Thinks The SPAC Boom May Be Over [Q1 Letter]

Black DiamondCarlson Capital's Black Diamond Arbitrage Partners fund added 1.3% net fees in the first quarter of 2021, according to a copy of the firm's March 2021 investor update, which ValueWalk has been able to review. Q1 2021 hedge fund letters, conferences and more At the end of the quarter, merger arbitrage investments represented 89% of Read More

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

In financial planning, client referrals are important, but they are not as valuable as referrals from centers-of-influence (COIs) – the attorneys, accountants and other professionals who also serve your clients. In fact, a well-developed network of COIs that reciprocally refers prospects will bring in many more clients and help you keep your existing ones.

So, how do you find good COIs with whom you can trade referrals? Follow these steps to create a powerful COI network:

Step 1: List each COI with whom your clients are working

As you work with clients, you’re bound to interact with other professionals also working with those clients. Write down each COI’s name, company, the type of COI (attorney, CPA, etc.) and the name of the client. Once you’ve listed this information, reach out to these COIs and discuss how you can help each other gain and serve more clients.

Step 2: List each COI in your professional network

Who are the accountants, attorneys and other people within your network? Are you optimizing your professional relationships with them? Add them to your list of potential COIs and bring them into your network.

Step 3: List each COI in the professional associations to which you belong

Are you a member of your local chamber of commerce or another professional association? List potential COIs in these organizations and make them a part of your network.

PDF | Page 2

No posts to display