Ask a broker – How do you generate referral business?

John Duncan – JMD Ross Insurance Brokers – NIBA Broker of the Year Finalist NSW 

Moving a client from being a “dollar buyer” to an “advice buyer” is the key to generating referral business, says 2018 NIBA Broker of the Year finalist John Duncan.

Duncan, of JMD Ross Insurance Brokers in NSW, says he’s never asked a client to recommend him as a broker, but existing clients do it anyway because of his firm’s professional approach.

“The challenge that you have is that some clients are just purely focused on price as opposed to advice,” he says.

“So if you can convince the client to go from being a dollar buyer to being an advice buyer it’s a totally different thing. Hence, why we get stickability of clients.”