There is no higher compliment than a recommendation from someone we trust. Some of these recommendations are relatively low stakes, such as a restaurant or book recommendation, but others carry much more weight. Certainly, a recommendation from a friend to talk to a particular financial advisor about their financial life is towards the top of the list!
Over the years, we have been privileged to receive referrals from many of you, as you have entrusted us to give advice to your family members, friends, and colleagues. However, some of you might wonder, what happens when I refer someone to Master’s?
Our standardized process looks like this:
- Initial Contact – A referral can come in many different forms: an e-mail introduction from a client, in a meeting, over a casual conversation, or direct contact from a new prospect. However we receive a referral, we immediately get the new prospect’s contact information into our system and Emily contacts them for an Introductory Phone Call. Typically, we schedule a call in 1-2 weeks after the initial contact.
- On the Introductory Call, our primary goal is always the same: to help however we can. We are helpers at heart, and in an industry that is unfortunately full of mistrust, we enjoy being an objective resource. Sometimes this means just giving one or two pieces of advice on a particular topic, while other times it means exploring a deeper planning relationship. Our first phone call with a new family always starts out with a discovery conversation which allows us to discern how we can most effectively help in each situation.
- From there, the process can go a few different directions:
- If it makes sense for us to further explore a planning relationship together, we will schedule an Exploration Meeting. At this meeting we take a deep dive into the motivations and goals of the prospect and thoroughly explore what a planning relationship with Master’s would look like.
- Sometimes, we talk to families who simply want to know if they are on track to reach their financial goals. In these cases, we will collect a bit more information, do basic projections, and provide simple recommendations. Often this is all they need, and we are happy to do that at no cost or further obligation.
- In some cases, the prospect’s planning needs and desires do not match with our intentional planning process. In this situation, we will refer the prospect to a local firm that we have vetted so they can get the advice they need from a reputable, trustworthy source.
- For the prospects that decide to work with us from here, we take them through our structured, comprehensive, 8-week onboarding process, which you can find here: https://mastersadvisors.com/our-approach/
A referral to us is a compliment and privilege that we do not take lightly. We strive to treat each situation with the same care and attention we hope you experience as a client of Master’s. Thank you for the trust you extend to us every time you give our name out to someone you know!
