Centers of Influence (COIs) are individuals who can refer potential customers to a business. For financial advisors, COIs can be immensely helpful because they can provide them with quality leads and referrals that can result in more clients and more revenue. So, is it worth it to find COIs? Absolutely! Here’s why. 

More Qualified Leads & Referrals 

One of the primary benefits of finding COIs is that they bring in qualified leads and referrals. When an established professional recommends a financial advisor, there’s implied trustworthiness attached to their recommendation. This means that potential clients are more likely to take your services seriously rather than if you had just cold-called them out of the blue. This isn’t to say that cold-calling doesn’t have its place—it does—but having a trusted professional vouch for you goes a long way in terms of credibility and trustworthiness. 

Access To New Opportunities 

Another benefit of finding COIs is that they open up new opportunities for financial professionals. Established professionals have connections, resources, and networks that individual financial advisors don’t always have access to. By leveraging these relationships, financial advisors can gain access to new potential clients who may not be aware of their services otherwise. Furthermore, working with experienced professionals can help financial advisors refine their strategies and systems so they can better serve their clients and increase their profits over time.     

Increased Visibility & Authority 

Finding COIs also increases visibility and authority within the industry at large. Working with established professionals gives financial advisors exposure to larger audiences who may not otherwise know about the services they offer. Additionally, working with well-known individuals in the field helps build credibility as those individuals will serve as references when talking about your services publicly or privately with others in the industry. In this way, finding COIs provides a great source for free publicity which ultimately leads to increased visibility among potential customers as well as other industry professionals alike. 

Enjoying Lasting Relationships & Benefits 

Financial advisors who find COIs enjoy lasting relationships as well as the various benefits that come with them. Established professionals often have access to exclusive resources, contacts, and events that can help financial advisors grow their businesses. In addition, having an ongoing relationship with a professional network means that financial advisors can continue to gain insights and advice over time. This can be especially helpful for new financial advisors who may not have the experience or knowledge that more established professionals do.

Strengthen Your Reputation & Expand Your Reach 

Finding COIs allows financial advisors to strengthen their reputations and expand their reach. By working with established professionals, financial advisors can gain more visibility and credibility both within their industry as well as outside of it. As a result, potential customers are more likely to put trust in the services that they offer. Furthermore, having key professionals in your corner can open up new opportunities and connections that can help financial advisors reach more customers and build their brand over time.

Increase Your Chances Of Closing Deals

Finally, working with COIs increases the chances of closing deals. Having an established professional vouch for you increases the likelihood that potential customers will take your services seriously and trust the advice you give them. This can have a profound effect on closing rates as customers are more likely to trust professionals who have been recommended by someone they know and respect. In addition, having an established COI can give financial advisors the edge they need to stand out from the competition. All of these factors increase the chances of success when it comes to closing deals with potential customers.  

In conclusion, finding centers of influence for financial advisors is worth it as it provides numerous benefits such as qualified leads/referrals, access to new opportunities, increased visibility/authority within the industry at large, and much more. Investing some time into building relationships with established professionals within your field is always beneficial so make sure you take advantage of every opportunity available. Don’t hesitate – to start building your network now!