A 2023 survey by PrivateWealth.com reveals how advisors attract their top clients. The survey asked 421 advisors what has made a difference for them in securing top-tier clients. 

Over 40% of advisors revealed that they acquired their top five clients through referrals from existing clients. Additionally, a slightly higher percentage of advisors obtained their best clients through centers of influence, which include professionals such as accountants and attorneys. 

Brett Van Bortel, the Director of Development & Delivery at Invesco Global Consulting, and co-author of "Street-Smart Networking: How Financial and Legal Professionals Can Cultivate Centers of Influence for a Flood of New Affluent Clients", emphasizes the critical role of referrals in acquiring clients. According to Van Bortel, most advisors, especially those targeting affluent and ultra-wealthy clients, find their clients through referrals. 

Advisors face several challenges in establishing strong strategic partnerships with centers of influence. One major hurdle is obtaining consent from those centers to introduce their clients to the advisors. Andree Mohr, Chief Implementation Officer at Integrated Partners, points out that connecting advisors with accounting firms is crucial for offering wealth management solutions to the accounting firm's clients. 

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