Fostyr for financial advisors
A practice is a list of families and the professionals who send them. Keep the list.
A client who refers a sibling. A CPA who sends every client with a liquidity event. An estate attorney who hands over the family after the plan is drawn. A client's adult children who will inherit and choose an advisor. Those relationships are the practice. Fostyr keeps them, with every touch, and tells you when one has gone quiet.
Where the work comes from for a financial advisory practice
Clients who refer
The sibling, the colleague, the neighbour. A client who trusts you introduces you without being asked, if they are reminded you exist.
CPAs and tax preparers
They see the liquidity event first. The advisor they trust gets the introduction.
Estate and business attorneys
The plan gets drawn, and the family needs someone to carry it out.
Clients' next generation
Assets move to the children. The advisor who knows the children keeps the family.
What goes wrong without a system
The CPA who stopped sending
A CPA sent four families in two years. A new partner joined their firm with an advisor of their own. Nobody at your practice noticed the referrals had stopped.
The children you never met
A twenty-year client passed. The children had never spoken to you. The assets went to the advisor the eldest already used.
The relationship in one advisor's head
The founding advisor knows every family's story. It is written nowhere the practice can read.
Software that tracks accounts, not people
Your portfolio and planning tools know the holdings and the plan. They cannot tell you which CPA sent the most families or that a client's replies have slowed.
Where to start, with no software and no plan
List who sent every client
Go through the book. Who introduced each family? Clients, CPAs, attorneys. A count beside each name. The list is short, and it is the practice's growth plan.
Connect the inbox
Every thread with every client and every professional is already in your mail. Connect it once and the history attaches itself; nothing is retyped.
Call the centers of influence who have gone quiet
The CPA who sent three families last year and none this year gets lunch this month. Fostyr surfaces them; you make the call.
Make the touch a rhythm, including the children
Every family hears from you on a cadence beyond the annual review. Every next-generation contact is a relationship of their own, with their own history.
How Fostyr fits a financial advisory practice
Hub: Who is waiting on you, and which referrer has gone quiet.
The morning: the client who asked about the rollover, the CPA who hasn't referred in nine months, the client's daughter who just replied. Ask Fostyr which professional sent the most families last year.
Relationships: Every family, professional and next-generation contact, with every touch.
Each has a journey: meetings, emails, calls, the notes from every advisor and associate who dealt with them. A grade shows who refers. A family holds its members, so the children are relationships in their own right, not a line on a form.
Workspace: Email, calendar and follow-ups, attached to the people.
A thread from a CPA lands on the CPA. The post-review follow-up sits beside the meeting. Templates for the review recap, the introduction thank-you, the quarterly note.
Marketing: Touches, introductions and events, on a cadence.
Rhythms for the quarterly client note and the referrer call. Forms for the client event and the introduction. Notes that survive the advisor who took them.
Connections: Your inbox fills it in.
Connect Gmail and every thread attaches itself to the right person. Bring a contact export in and it reconciles. Use a planning or CRM tool we don't connect to yet? Tell us at setup and we'll help you bring your data over. Fostyr keeps relationships and history, not accounts.
What marketing means for a financial advisory practice
Marketing for an advisor is the introduction
Seminars and ads bring strangers who have to be convinced. A client or a CPA brings a family who already trusts you. Spend the effort on the professionals who see the event first.
The next generation is the campaign
Every client's children will choose an advisor. Meet them now, keep them as relationships of their own, and be the one they already know.
The quarterly touch keeps the referral coming
Clients refer when you are top of mind. A note each quarter, in your voice, with something useful, is the whole marketing budget for referrals.
Questions financial advisors ask
- How do I get more financial advisor clients?
- From clients who refer and the CPAs and attorneys who see the event first. Growth is meeting more of those professionals, staying top of mind with clients, and noticing quickly when a referrer goes quiet. Fostyr is built around that list.
- How do I get referrals from CPAs and attorneys?
- Send them work first, make their client look good, thank them the same week, and stay in touch quarterly. The last part is where most advisors lose the referral stream. Fostyr tells you which professionals have gone quiet.
- How do I keep the next generation of my clients?
- Meet the children while the client is alive, keep them as relationships with their own history, and stay in touch on a cadence. Fostyr keeps each family member as a person, not a beneficiary line.
- What software does an independent advisor need for relationships?
- Your planning and custody tools handle the accounts. A relationship system handles the people and the referrers, with the whole history and a cadence. That is Fostyr. It does not hold account data.
- Is Fostyr a CRM for financial advisors?
- It is a relationship system rather than a sales pipeline. It tracks the families, professionals and next-generation contacts behind your practice, with their whole history, and nudges you before one fades.
- How much does Fostyr cost?
- $200 a month for your core team of up to five, then $35 a month per additional person, with a thirty-day trial and no card required.
Pricing
$200 a month for your core team of up to five, then $35 a month per additional person. Thirty-day trial, no card required.