Leadership in crisis

Advisors can’t hold in-person events or meetings, but the retirees’ and pre-retirees’ need for financial guidance has never been greater. At this time, many Americans are also looking to support local businesses and first responders. In response to these challenges, Lone Beacon is launching our “Stronger Together” referral program platform to provide assistance to advisors’ local restaurant industry and first responders, while getting referrals, engaging prospects, and rewarding clients.

Referrals in a Virtual World

Did you know that 58% of wealthy investors found their financial advisor through a referral?[1] A referral could mean that you start off an appointment with a higher level of credibility already established. In fact, people who are referred by a friend are 400% more likely to become a client.[2] One of the most popular ways to engage referrals is to invite your client and their referral to a dinner or lunch event. This isn’t an option right now for many advisors, but that shouldn’t stop them from seeking out referrals. Virtual interaction has become the norm, even among the 50+ demographic, who are more tech-savy than many marketers realize. By making it easy for your clients to refer friends they may not be seeing in person right now, advisors can still take advantage of referral and community engagement opportunities.

The “Stronger Together” Referral Platform

We’ve created a community platform where clients can refer friends and family members while benefiting the local community. For every meeting held with a new referral, the advisor will provide a total of $100 in restaurant gift certificates redeemable at a local restaurant. The client receives $25, the referral receives $25, and a first responder organization receives $50. The Stronger Together program is marketed to a current client database via email, custom Facebook creatives, direct mailer creative, and or personal outreach from the advisors over the phone or in a short video.

The “Stronger Together” Prospect Platform 

We also have the option of a prospect-focused program geared towards community engagement. Prospects receive a $25 gift certificate to a local restaurant for meeting with an advisor, and another $25 gift certificate is donated to a first responder organization on behalf of the prospect. This is another way for advisors to show support for their local community and engage their prospects who want to do the same. 

Advisors as Leaders in a Time of Crisis

Unfortunately, the impact of the coronavirus will likely last a while for restaurants and those working on the front lines. It’s also a time when people want to do what they can to help and connect with friends and family. This is one way in which advisors can present themselves as leaders in a time of crisis. By presenting a platform where people can refer their friends and family while helping their local restaurants and first responders, advisors can generate engagement, increase leads, and make a positive impact in their communities.