View more on these topics

IFG Financial Services chief: Advisers’ drive for referrals is a mistake

Advisers are making a “big mistake” by constantly seeking referrals without qualifying the type of client they are gaining, according to IFG Financial Services managing director Tim Sargisson.

Speaking at the PIMS conference on board the Aurora last week, Sargisson said client referrals are only successful if advisers target the right clients.

He said: “To work, every referral must fit your ideal client profile. Make sure they do at a very early stage of engagement, and if they do not you should disengage, and quickly.

“The biggest mistake I see in marketing is the constant drive for referrals, without ever qualifying those referrals.

“The RDR should have swept that away, but advisers still focus too much on the wrong type of client, and by the time they realise they are the wrong type of client they have spent an inordinate amount of time chasing them.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm