Getting Client Phone Numbers
QUESTION:
Hello Mr.Cates: I like many of your ideas. However, have you ever been told by our compliance department that we can not ask for the phone numbers of referrals by our current client base because they might be on the do not call list?
At my prior Investment Firm, I used a simple referral card that I would attach to a mailing that I send to existing clients. I had a lot of success with it. However, the compliance department at my current company said not to do that, because of what I just mentioned. Just thought you may like to know.
ANSWER:
Thanks for taking the time to write. This is the first I have ever heard of this. Every firm I work with allows their advisors to collect phone numbers of prospect. But, then, they have to check them against the do not call list. Many companies have software that helps them with that.
So, if you can’t collect phone numbers, how do you contact your new prospects?
Of course, email is becoming a pretty good way to get connected to new referral prospects. The client sends an email to their friend and CC you. You then, after a couple of days, follow-up with an email to the prospect (and CC the referring client). You use email to negotiate a quick phone appointment with the prospect.
I hope your company would allow something like this. If not, they might as well tell you not to prospect at all.