Friday, March 12, 2010

How should you thank clients for referrals?

Everybody knows you should thank clients when they refer business to you. But financial advisors can't agree on the right way to express their thanks.

Is a verbal thank you at your next client meeting enough? How about adding a card, gift or discount on your professional services? Often your response depends on the nature of your relationship with the client and the value of their referral.

If you decide on a card, must it be handwritten? Or could you use an automated service such as SendOutCards? I know advisors on both sides of this debate.

Some advisors reward referrals with a discount on their fees. Others shrink from this approach. They feel discount make clients question the validity of their pricing. The non-discounters may prefer to buy dinner or send a gift to the referral source.

What do YOU think? Express your opinion in the poll you'll find in the right-hand column of this blog. I'll share the results of the poll in my April e-newsletter.

Related posts
* Guest post: "The Lost Art of the Thank You Card"
* "You" can help your job hunting "thank you"

Susan B. Weiner, CFA
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Copyright 2010 by Susan B. Weiner All rights reserved


  1. Hi Susan, Thanking clients for referrals is essential to getting more of the same. I don't care for giving discounts - that doesn't sit well with me. What resonates with me is a lunch AND a handwritten card (although I do like SendOutCards on occasion). I'm curious to see what others think. Suzanne

  2. Suzanne,

    I like a handwritten card and lunch, too. So far the voters seem to agree with you and me.

    Advisors have expressed concern to me that discounts cheapen the value of the service provided. Yet I know some advisors who do offer discounts for referrals.

    Thanks for your comment!


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