Grow Business with Referrals

Learning Objectives

After completing this unit, you’ll be able to:

• Describe how Intelligent Referral Management helps wealth advisors capture and track referral opportunities.
  
• Explain how to use the Referral Intake form to create and route a referral to the right specialist.
  
• Explain how advisors follow up on and convert referrals to opportunities.
  

Capture Referrals and Drive Growth

In the previous unit, you explored how Meeting Concierge helps advisors prepare for, conduct, and follow up on client meetings. Advisors sometimes discover golden opportunities during those meetings. For example, a client mentions a financial need for a company they own that could lead to new business for another bank vertical.

Agentic Advisor tracks this type of information in Referral records.

Referrals are an effective way to grow revenue in wealth management and financial services, but they’re routinely lost in the shuffle of daily work. Advisors and others often have no simple, automated way to create a referral, route it to the correct person, and track whether anyone followed through. They also often have no way to manage incoming referrals efficiently.

Intelligent Referral Management in Agentic Advisor closes those gaps.

In this unit, you learn about Intelligent Referral Management and follow along with examples of creating and following up on referrals.

How Intelligent Referral Management Works

Referrals involve two parties: the person who creates a referral, and the specialist who follows up on those referrals. Intelligent Referral Management has tools for both parties.

• The referrer, or referral source, uses a dynamic intake form that simplifies creating a referral. When a referrer selects a product, only the relevant fields appear.
  
• The specialist who follows up on a referral receives a list of referrals with the context they need from Salesforce and other data sources.
  

Later in this unit, you follow examples in which a wealth advisor creates a referral and follows up on another referral. Intelligent Referral Management supports many referrers, however. Those referrers include:

• Internal employees, such as bank branch employees who receive referral incentives for expanding business with existing customers.
  
• Management and leadership who create high-priority referrals for VIPs.
  
• External referrals from bank partners and centers of influence, such as wealthy customers’ attorneys, accountants, and real estate agents.
  

In all of these cases, referrals aren’t just another way to manage Salesforce leads, which are designed for new customers and support a linear process to convert a single lead to a single opportunity. Intelligent Referral Management instead uses the standard Referral object, which relates to customers and multiple opportunities.

In your Salesforce org, admins configure a routing engine to assign referrals to the best user or queue without custom code. Then, as specialists start to work on a referral, the system maintains incentive attribution information for the referrer.

For example, Ryan creates a referral for an existing wealth management client who wants to buy insurance. The system connects the referral to the existing client’s account. An insurance specialist then receives the referral. Because of the source of the referral and provided background information, the insurance specialist has high confidence that this referral is more likely to convert than a lead sourced from lists or marketing campaigns. They create an opportunity from the referral, and that opportunity relates to the referral record and keeps Ryan’s incentive attribution accurate.

Intelligent Referral Management tools appear in Agentic Advisor in two ways.

• In Meeting Concierge, Agentforce analyzes meeting notes and client context to flag referral opportunities in the Post Meeting stage.
  
• In Run My Day, prioritized referrals appear in the Grow group.
  

Now that you understand the basics of Intelligent Referral Management, follow along as wealth advisor Ryan uses it to create and manage referrals.

Create a Referral with the Intake Form

Ryan just finished a meeting with a client who mentioned that they’re planning to buy a vacation home and need a mortgage. Home loans are outside of Ryan’s expertise, but Cumulus has a home loan division that can help.

This client’s need is a great opportunity to keep the client’s business within the financial institution. Meeting Concierge analyzed the meeting notes with this mention, so as Ryan completes his post-meeting follow-up, Meeting Concierge prioritizes a smart action to create a referral.

When Ryan selects the action, he starts a dynamic referral intake form, which guides him through the process of creating the referral. When Ryan selects a product, such as a mortgage, the form adapts to show only the relevant fields and steps. As he works through the form, it shows him his progress toward completion.

After Ryan submits the form, it shows him a referral number. The referral routes to one of his colleagues who works with home loans, based on rules that Cumulus’s Salesforce admins configure in setup.

To track a referral’s progress, referrers can follow status updates on the referral record. So, Ryan knows when the specialist contacts the client or schedules a meeting. This way, he can be confident that his colleagues on other teams are helping his clients and further building relationships.

Convert Referrals and Follow Up

As a wealth advisor, Ryan also receives inbound referrals from retail bankers and other members of Cumulus’s financial service teams, plus bank partners and client’s attorneys, accountants, and others. Ryan explores these referrals in the Grow group on Run My Day.

When Ryan opens a referral, he can review:

• The referrer’s notes
  
• Enriched data from Data 360
  
• Agentforce-generated talking points for his first call
  

For quick outreach, Agentforce can even write a first draft of a personalized email that Ryan reviews and sends in one click.

When he’s ready, Ryan simply converts the referral to one or more opportunities to track progress on new business. The referral’s data, activities, and referrer attribution carry over to the new opportunities.

Wrap Up

In this unit, you learned how Intelligent Referral Management helps wealth advisors track and follow up on referrals, so that no opportunity is lost.

You explored the final step with wealth advisor Ryan as he used Agentic Advisor to work with his clients. Here’s a quick review of the earlier steps.

• Run My Day surfaced an at-risk client who needed personal outreach.
  
• Client Detail Pages gave Ryan a complete view of his client to quickly understand their situation.
  
• Meeting Concierge helped Ryan prepare for and manage a client meeting to build a relationship.
  

Throughout this process, Ryan created more rich client data. That data provides an ever-stronger foundation for Agentic Advisor features. Data aggregated from the Agentforce Financial Services data model and Data 360 along with the tools you discovered in this badge make it possible for Ryan to better prioritize his work and provide intelligent summaries and actions.

Now that you understand everything Agentic Advisor can do, consider how your firm can use its features.