A Guide To Center Of Influences For Financial Advisors

Generate more financial advisor leads

Generate The Right Referral Sources

Every financial advisor across the country has built their practice differently. Some have done it through cold-calling, door-knocking, seminars, center of influences, targeting a niche from a past career field (to name a few). One thing has remained constant throughout the time of the financial advisor, ways to generate more financial advisor leads for their business are constantly evolving.

Prospects expect a level of intimacy of their issues, daily lives, problems and goals. They do not want to be sold, but educated, informed and offered your services. They want you to filter out the noise that can pollute and influence their money making decisions. They want for you to have an opinion whether or not you are always right. They want you to have their best interests in mind and stay in front of them when times are tough.

This article is meant to take this idea and cultivate and visit some ways to generate more leads for your advisory practice and ultimately grow your relationships.

Leveraging Center Of Influences (or finding the right one)

Centers of Influences (COI) can be a very good way to grow your practice and generate more financial advisor leads. However, we have seen advisors take too wide of a reach and end up not attracting any business from these professionals. The most successful relationships are those that are also on a personal level.

These are the people that you can spend time with outside of the professionals setting and introduce each others families to. In essence, these are the people that you enjoy being around and trust to get the job done if you were to refer business to them. Below is a short list of individuals that are critical to build relationships with in order to generate more financial advisor leads.

  • Attorneys (Be specific)
  • CPA’s
  • Current clients
  • Individuals that have a large social or professional circle

The most success we have seen with connecting with specific attorney COI is to leverage LinkedIn to search for individuals with similar likes, hobbies or even background. Extend an invite to that individual to join you for an event, outing or something related to that common interest. This removes any awkwardness as the activity will keep you both focused on whatever it is you are doing.

A simple message as this will convey the point, objective and purpose of the meeting. Feel free to cut and paste this to use.

Hi (name of individual)!, came across your profile and saw that we had (name of interest) in common and was wondering if you would be open to going to (location of the event). It would be great to meet you and look forward to your response!


Your name

This simple message is quick, powerful and to the point. Make sure you follow up with a phone call a few days later (2-3 should be just fine). Just keep in mind that this a relationship building process. You do not know each other and there needs to be a level of comfort and trust before anyone sharing any business opportunities. Most advisors that succeed at using this method take 2-3 months of constant activity in order to obtain an opportunity.

leads for financial advisors

Attorneys are the “go-to” for wealthy individuals. They are trained to handle complex issues, set up trust and estate, wills, business entities, mergers & acquisitions, tax issues. You name it, they do it.

If you have a client base, it is in both your interest and your clients to know who their attorney’s are. This is a warm contact that can turn into a fruitful relationship, both personally and professionally. There are good ways to provide value to these professionals so that they are up to date on the markets, industry changes and new services you can provide to cure some pain points. These are all great sources to develop relationships and financial advisor leads.

  • Leverage wholesalers (will generally cover the cost) of a topic for you or them to discuss
  • Target the attorneys that fit your niche (such as corporate executives). Most of these individuals have Trust & Estate Attorneys.
  • Limit your attorney COI list to 2-3 individuals. This helps you be the “go-to” person in situations where financial planning is needed.
  • Keep these attorneys in a separate mailer list and only send them information that is valuable to them
  • The referral process is a 2 way street, this is why it is critical to work with those in the niche that you are pursuing
leads for financial advisors

An accountant COI in the niche you are pursuing will bring the lead generation process into full circle. As mentioned prior, make sure these professionals are in the niche you are pursuing. Not only will you quickly learn the nuances of the niche must faster but you will become the face of that niche.

What we have seen with most advisors pursuing an accountant COI is that they meet a few times and quit quickly when they don’t receive immediate results. It is a fallacy to think results will occur immediately.

What we have seen with most advisors pursuing an accountant COI is that they meet a few times and quit quickly when they don’t receive immediate results. It is a fallacy to think results will occur immediately.

  • Many advisors have success with small to medium sized accounting firms with no wealth management arm
  • Be sure that there is no preexisting relationship such as the firm working exclusively with another advisory firm
  • Limit your accountant COI list to 2-3 individuals. This helps you be the “go-to” person in situations where financial planning is needed.
  • Host an event where you can bring the attorneys, clients, prospects and accountants to one outing

Using the same script and process as above, take your contact out for lunch to find out more about them. Understand what makes them tick as an individual, what some of the problems they face, what challenges the industry faces and what challenges their clients face. This is the time where they get to talk. Your job is to ask good, open-ended questions that keep them conversing with you. Treat your guest as you would a client and it will help generate more financial advisor leads.
Ask these questions to get great results.

  • Tell me how you got into this type of accounting.
  • What challenges do you as a professional see in this particular niche/industry?
  • What problems do your clients run into?
  • What types of problems do you have the most difficulty solving?
  • Tell me what directions you see this industry going in?

This is just a sampling to get your mind in gear to ask the right questions. The individual on the other side of the table will know that you are not trying to railroad them into just coughing up business and that you are genuinely interested in solving their problems.

Generating Leads By Understanding When Action Is Needed


This goes back to our money in motion article. The speed at which the financial services industry is becoming aware of certain events (stock option exercising, changing jobs, liquidation event, etc.) is occurring in real time. This real-time information is a prime opportunity for advisors to get out in front of the prospect quickly.

However, data is not what drives growth, it is the advisors process and philosophy that does. As the advisor begins to scale, they will probably see themselves get at capacity rather quickly. There are ways to go about shoring up time and capacity in order to take on more clients and assets. This requires them to make a combination of efforts to generate more financial advisor leads…

  • Hire additional staff or junior associates to help take over certain clients
  • Purchase another book of business to grow
  • Hire a marketing team to help expand
  • Develop or create a new niche to market to

This process we have developed and deployed to advisors and their teams works. Whether you use our platform or create your own, this process will help you keep your pipeline full, develop quality leads and continue to grow your business.

In this example, we will use what other successful advisors have used. If you already have a service or a way you can get money in motion opportunities delivered, you can still lever the other steps to refine your marketing process. Do these 3 touch points initially to begin the relationship to generate more financial advisor leads into clients.

1. Leveraging Odegee Platform

Or whichever platform you use to have daily money in motion opportunities delivered real-time. This information should include contact information, social profiles and stock option data (or whatever niche you target). This platform should be easy to use, easily accessible and be able to coordinate with your team (or just you if solo)

2. Connect on LinkedIn with this message

Hi (name of prospect), our team has learned that you had some stock options come due. With the work we have done with some of your colleagues, I thought I would reach out and make an introduction.

I also note that you are interested in (insert prospects interest if available) and wondering if you would like to attend (name of event).

Cheers, Your name

3. Send a personalized letter

This goes a long way and works very well as a second touch point. Thank them for connecting on LinkedIn or say you are looking forward to connecting if they haven’t accepted your invite yet.

4. Call

A phone call is the third, final touch of the initial relationship building process. Keep it simple, to the point and professional. At this point, even if the individual has only received 1 of the 2 last touches, there should be some familiarity in hearing from you. If not, you can repeat the other 2 steps after the call to re-establish the connection.


It is easy to over-complicate, add process and steps to our practice. The important take away is that High Net Worth Individuals enjoy simplicity. Keep it simple and you will turn these cold contacts into warm leads very quickly.