Financial Advisor Phone Script to Meet With Centers of Influence for Coffee

value skillsI’ve noticed over the years that Financial Advisors rarely cultivate relationships with Centers of Influence (COI). Often it’s because they don’t think about business development or they may not be concerned about growing their business or prospecting for new clients.

Other times it could be that they just don’t consider how important it is to foster relationships with professionals who could help them and vice versa. Still yet, they could be focused on other issues and it hasn’t occurred to them that they could focus on this marketing strategy.

When advisors hire me, they become more focused on their business and on cultivating relationships with other professionals, all of which can be rewarding. But they generally need help in how to approach Centers of Influence.

This post offers a few good tips on a script to help you approach potential Centers of Influence to meet and discuss your businesses,

Who makes a good referral partner?

While you should be networking and meeting all types of new people to spread the word about your practice, there are certain professions that are better for you to focus on approaching.


Possible Centers Of Influence:

  • CPA or accountant
  • Estate Planning Attorney
  • Mortgage broker
  • P&C agent
  • Realtor
  • Long Term Care or disability (if you don’t provide this)
  • Business consultants, especially those that focus on helping in the sale of a business


Get ready to be uncomfortable!

Reaching out to Centers of Influence does take a little bit of getting out of your comfort zone as well as some ingenuity. After all, how should you approach potential referral partners? Will they be receptive to meeting with you?

The truth is that some will not be interested simply because they are not entrepreneurial or they are “given” their leads by their company or another established advisor.


How to approach COI’s: Phone script to set up coffees with COI’s

(How you could start out)

“Hello, we met at X…we were introduced by X”

“We haven’t seen each other in a while…”

“I’m calling to touch base with you and see how you’re doing. How is life? How is business? (Say something here that is specific to what you know about them. A hobby they like, food they enjoy, friends/associates you have in common – build rapport).”

“Well, the reason for my call is that I’m putting together a group of expert professionals that I can refer my clients to and I thought of you. I wonder if you’d like to meet for coffee so that we can see if there are ways we can help each other.”

Things to think about:

Two-way street referrals/reciprocal referrals – ALWAYS start off with establishing boundaries that you are looking for reciprocal referrals.

Use these 11 words to get more reciprocal referrals

You must show that you are an experienced advisor who provides a service experience that sets you above other advisors


Think about your practice and imagine what it would be like if you had more professionals to refer your clients to in case they need specific services. Think about and imagine what it would be like to receive regular referrals from other professional advisors. Let this motivate you to take action this year!


Why a Warm Marketing Plan Works Better For Financial Advisors Than Cold Calling

Crowd of small symbolic 3d figures, isolated

For financial advisors, warm is better than cold! Why? Because cold calling can be exhausting. Facing rejection time and time again is hard on the ego. Too many “no’s” can turn a positive advisor into at demoralized advisor and cause “zombie face,” a condition where you stare at your computer screen not knowing what to do.

When financial advisors contact me for help in developing a prospecting plan, I coach them to develop multiple tactics, one of which is creating a Warm Marketing Plan.

What is a Warm Market?

A “Warm Market” is people you know, which could be:

  • Prospective clients
  • People who have expressed interest in your services but have not yet hired you   Friends
  • Relatives
  • Existing customers
  • Centers of influence
  • People from your Chicken List
  • Referrals

What is a Cold Market?

A Cold Market is a person who does not know you from Adam. They have never heard of you before, never spoken to you previously, and never met you in person. Many advisors I speak with continue to use “cold calling” to gain access to new prospects, despite the fact that it is not as effective as it once was due to caller id and the do not call list.

Prospecting Success

With prospecting, you have a much greater chance of winning new business if you create a Warm Marketing Plan that sends your contacts a “touch” on a regular basis. If your Warm Marketing Plan is aimed at people who already know you, success will follow because…


If you market to a list of 10 warm people over a 90-day period, you stand a good chance of winning 3-4 new clients


But you must have a Warm Marketing Plan that touches your list with a different tip, method, or idea, which they would find helpful and meaningful. Some advisors find it’s best to use an automated service so that you don’t have to be involved in a lot of time-consuming tasks.

You have two choices for creating a Warm Marketing Plan:


1.Develop your own custom Warm Marketing Plan

I have done this for my coaching practice using, a service that allows you to develop a series of automated emails that are sent at a predetermined time after the prospect “opts in” to download one of my e-books. I have created all my own content since I have a huge library of my own articles.

Want examples? Sign up for my ebook here.

  • As an example, some of my topics are:
  • Are you using inbound marketing?
  • 3 Income Growth Strategies
  • 4 Typical Business Errors Advisors Make
  • 7 Powerful Success Strategies
  • 80% of Sales are Made on the 5th to 12th Contact


2.Use an automated service. I have several that I can recommend to my clients.

Many of my clients have used an automated service successfully to create digital marketing programs that are pre-approved by most compliance departments. When they meet a prospective client at a networking event, they ask permission to add them to their “newsletter list.” When they have a meeting with a prospect that does not immediately become a client, they add them to the list. Existing clients are also added to the list. The choice of email topics, touch points, holiday emails, interesting articles, and other topics, all lead to a repeated pattern of communication. This in turn, leads to new clients.


Warm Marketing Equals Success

The reason a Warm Marketing Plan is so successful is that it can take up to 5-12 contacts for a prospective client to be READY to do business with you. If you have never heard of this concept, please place this search term into a search engine like Google or Bing: “number of times a person must see an advertisement before they will act.”

I will paraphrase it here:

  • The first time a marketing message is sent, the receiver does not even see it
  • The second time, they vaguely notice it
  • The third time, they think “oh there’s that person’s message again”
  • The fourth time, they think “maybe I should read this message”
  • The fifth time, they DO read the message
  • The sixth time, they have a need for what you offer
  • The seventh time, they have experienced pain over not taking action
  • The eighth time, they take action and contact you!
  • Or it continues on until they have a need


Do yourself a favor and contact me for a consultation to figure out the right way to go about prospecting for new clients. Trying to do this on your own can be a futile process because you are not an expert in marketing. I have noticed over the years that advisors often need me to guide them into developing the correct message and process to be successful at prospecting. Is it time for you to contact me?

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