5 steps to building better centres of influence

Most advisors understand the value of centres of influence (COI). Accountants, lawyers, bankers, insurance specialists, business consultants and other professionals can all become important sources of introductions. But knowing that COIs matter is not the same as having a COI strategy.

For many advisors, COI development still looks too much like informal networking: a few coffees, a lunch here and there, a LinkedIn connection, an occasional event and a hopeful follow-up. The intention is good. The system is often weak.

The problem is that many professionals are understandably cautious about referring clients to advisors. When an accountant, lawyer or banker introduces a client to an advisor, they are putting their own reputation at risk. They need confidence that the advisor will act professionally, communicate clearly, respect the existing relationship and improve the client’s outcome.

That confidence is built through consistency, clarity and evidence of professionalism. In 2026, successful COI development is less about asking for referrals and more about becoming the kind of advisor another professional is comfortable introducing. That requires a more thoughtful and structured approach. Here is a five-step system advisors can use to build stronger, more productive COI relationships.

1. Demonstrate a professional process

Some professionals view financial advisors through an outdated lens. They see advisors as sales-oriented rather than planning-oriented. They may not understand the advisor’s credentials, regulatory responsibilities, planning process, service standards or depth of client work.

Advisors should not assume COIs understand what they do. The best way to address this is through articulating a strict adherence to service processes.

Accountants, lawyers and other professionals tend to respect structure. They want to know how an advisor discovers clients’ needs, develops recommendations, implements advice, monitors progress and communicates with clients and other professionals.

If your business appears informal or personality-dependent, COIs may hesitate to refer you. If your business appears disciplined and client-centred, you become easier to trust.

Create a simple visual overview of your client experience. Show the major stages of your process, such as discovery, planning, implementation, review and ongoing service. Include where you collaborate with tax, legal, estate or insurance professionals.

Then practice explaining it in plain language: “Our process is designed to help clients move from scattered financial decisions to a more coordinated plan. It also helps us work more effectively with accountants, lawyers and other professionals involved in the client’s life.”

This does not need to be complicated. In fact, it should not be. A COI should be able to quickly understand your process and accurately repeat it to a client.

2. Create a COI referral guide

One of the most common reasons COIs do not refer is simple: they do not know how to explain the value of the advisor. They may like the advisor. They may believe the advisor does good work. But if they cannot clearly describe who the advisor helps and when the advisor should be introduced, referrals become inconsistent. They are not trained salespeople.

A referral guide can help. It is a practical tool that helps a professional understand when and how to introduce themselves.

Create a concise COI referral guide that includes:

• Your ideal client profile.
• The planning situations where you add the most value.
• Your core services.
• Your client process.
• A short description of your team.
• A few examples of client problems you help solve.
• Simple language a COI can use when making an introduction.

The most important section may be about when to include you in a client discussion. For example: “You may want to introduce us when a client is preparing for retirement, selling a business, receiving an inheritance, dealing with a major life transition, coordinating tax and estate decisions or looking for a more organized approach to their financial life.”

3. Have better conversations

There is nothing wrong with meeting a COI for coffee. The issue is that many of these meetings never move beyond polite conversation.

The advisor explains their business. The professional does the same. Both agree there may be opportunities to work together. Then little happens.

A good COI meeting is not a pitch. It is a discovery conversation. The goal is to understand the other professional’s clients, concerns, frustrations and standards. What types of clients do they serve? What planning issues are they seeing? Where do clients get stuck? What makes them comfortable or uncomfortable introducing another professional? These questions create a more useful conversation.

Prepare for COI meetings the same way you would prepare for an important client meeting. Research the professional’s firm, market and client base. Then ask thoughtful questions:

• Who are your best clients?
• What financial issues are showing up most often?
• Where do planning conversations tend to break down?
• What frustrates you when working with advisors?
• What would an ideal advisory partner do?
• After the meeting, send a summary of what you heard. Include one useful insight, article, checklist or resource connected to the conversation.

This demonstrates listening and professionalism. It also creates a reason to continue the relationship.

4. Educate the professional community

Education is one of the most effective ways to build credibility with COIs. Busy professionals do not need more generic marketing. They need useful insights that help them serve clients better.

This can take many forms: short articles, briefing notes, checklists, case studies, planning guides, small roundtables, webinars and client conversation tools. The format matters less than the usefulness.

The key is to focus on issues that matter to the COI’s clients. For example, business owners may need help coordinating succession, liquidity, estate planning, tax strategy and family communication. Retirees may need guidance on income planning, tax efficiency, longevity risk and estate intentions. Incorporated professionals may need support with corporate surplus, compensation planning, insurance, retirement income and estate coordination.

When advisors create useful education around these issues, they become more than a name on a contact list. They become a resource.

Choose one client segment and build a small education program around its most important decisions. For example:

• A quarterly planning note for business owners.
• A checklist for clients approaching retirement.
• A briefing on financial considerations before selling a business.
• A roundtable for accountants and lawyers on intergenerational wealth.
• A guide to preparing for a family wealth conversation.

Where possible, invite other professionals to contribute. An accountant, lawyer, banker or insurance specialist may welcome the opportunity to participate in a useful educational initiative.

5. Manage your COI relationships

COI development should not depend on memory or occasional motivation. If it is important for growth, it should be managed like any other business development process. That means tracking relationships, segmenting COIs, scheduling follow-ups, recording key conversations and measuring outcomes.

This makes them more intentional. Many advisors have too many weak COI relationships and too few strong ones. A disciplined system helps identify which relationships deserve more time.

Create a simple COI dashboard with four categories:

1. Strategic partners: professionals who serve your ideal clients, understand your value and have strong mutual potential.
2. Developing relationships: promising contacts where trust is still being built.
3. Visibility relationships: people who know you but do not yet have a clear reason to introduce you.
4. Low-yield contacts: cordial relationships that are unlikely to become meaningful referral sources.

Then assign a contact rhythm. Strategic partners may deserve quarterly one-on-one conversations. Developing relationships may need a useful touchpoint every 60 to 90 days. Visibility relationships may receive your newsletter, invitations or occasional updates.

The goal is not to communicate with everyone equally. The goal is to invest appropriately based on trust, fit and potential.

A strong COI strategy is not built by asking more people for referrals. It is built by becoming easier to trust. That means having a clear process, a defined ideal client, useful referral language, better professional conversations, educational resources and a disciplined follow-up system.

The most successful advisors are not the ones who know the most professionals. They are the ones who are most clearly understood, most consistently useful and most trusted with important client relationships.

That is the real opportunity. A better system, better conversations, better professional trust and ultimately, better clients.