Referral tracking for financial planners

Referral Management for Financial Planners

For growth-focused financial planning firms, referrals represent the most valuable source of new clients. Introductions from accountants, solicitors, and other trusted professionals arrive pre-qualified with higher conversion rates and longer client lifetime value. Building a world-class referral strategy is essential for sustainable AUM growth.

Compliance

FCA Consumer Duty requirements, audit trails, client suitability

Opportunities

Financial planning firms focused on growth unlock significant opportunities:

• Identify your best relationships: Understand which professional partners consistently introduce high-quality, suitable clients
• Build Consumer Duty evidence: Document the suitability of every introduction with proper audit trails for FCA compliance
• Track AUM from referrals: See the true value of each referral relationship in terms of assets under management
• Nurture introducer relationships: Keep professional partners updated on outcomes to strengthen trust and encourage more introductions
• Scale your referral network: Identify gaps in your professional network and strategically build new relationships

Common Pain Points

• Scattered introductions: Referrals happen over email with no central record — you can't see what's been sent, to whom, or what happened next
• Compliance risk: FCA Consumer Duty requirements, audit trails, client suitability — it's hard to prove you're doing it right without a proper system
• No visibility of value: You're making introductions that generate revenue for partners, but you can't track the commercial value or prove ROI
• Relationship leakage: Good relationships go cold because there's no systematic follow-up or visibility
• Fee-sharing complexity: Managing commissions and splits manually leads to errors and disputes

Key Referral Partners

• Accountants
• Solicitors
• Mortgage brokers
• Employee benefit consultants
• HR professionals