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As many of you know, my mission is to help financial advisors like you fill your sales funnel so full of ideal clients that you need a waiting list. That’s not just a dream — it’s a mindset, and it’s the foundation of my giving system for referrals.
Today, I want to talk about a concept from my latest book, Can I Borrow Your Car?, that is more relevant than ever: the critical importance of having “safe drivers” in your referral network, especially when serving business owner clients facing major transitions.
What Is a “Safe Driver” in the Referral World?
Let’s face it: when you refer a client — especially a business owner with a once-in-a-lifetime liquidity event — you’re not just making a casual introduction. You’re putting your reputation, your relationship, and your client’s future on the line. That’s why I use the term “safe driver”: someone you can trust to handle precious cargo with care, skill, and integrity.
Think about it like this: If your client’s business is a limited-edition Ferrari, you wouldn’t hand the keys to just anyone. You want someone who understands the value, knows how to handle complexity, and will get your client to their destination safely — no risky shortcuts, no reckless driving, and no “learning on the job.”
Why Safe Drivers Matter More Than Ever
In the podcast conversation I recently had with Bob Goldsmith of Northern Edge Advisors, this theme came up again and again. Bob’s firm specializes in bringing top-tier investment banking skills to the mid-market — serving real entrepreneurs and families, not just mega-corporations. And what sets them apart? They’re not just transactional; they’re trusted guides who stay in the trenches with clients until the job is done, no matter how long it takes or how complex it gets.
Here’s what I want you to take away:
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Referrals aren’t just about introductions — they’re about risk management. When you refer a “safe driver,” you’re lowering both the perceived and actual risk for your client and for yourself. That’s how you become the obvious choice in your market.
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The best referrals come from experience and trust. Bob shared that his best business comes from former clients and attorneys who’ve seen his team handle complexity and deliver results. That’s the kind of reputation you want your referral partners to have.
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Due diligence is non-negotiable. Don’t just refer based on personality or popularity. Know who you’re sending your clients to. Are they registered? Do they have a track record in your client’s industry? Will they treat your client’s business as the milestone it is, not just another transaction?
How to Identify and Cultivate Your Safe Drivers
Here’s my challenge for you this quarter:
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Audit your referral network. Are you confident that every person you refer is a “safe driver”? Would you trust them with your own Ferrari?
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Engage early and often. Don’t wait for a client to be ready to sell before bringing in your investment banking or M&A partners. Early conversations lead to better outcomes and fewer surprises down the road.
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Build relationships, not just pipelines. The best outcomes happen when you, your client, and your referral partners are all on the same side of the table. That takes time, trust, and a willingness to give before you get.
The Bottom Line: Protect Your Clients, Protect Your Reputation
When you refer a “safe driver,” you’re not just helping your client — you’re reinforcing your own value as the advisor who sees around corners and always puts clients’ interests first. That’s how you build a business by referral, not by begging, and it’s how you become the advisor everyone wants on their team.
If you want to dig deeper into how to lower risk in the referral process and create a system that fills your pipeline with the right clients, check out Can I Borrow Your Car? or reach out to me directly. Let’s keep raising the bar for our industry — one safe driver at a time.
To your continued success,
Mike
Related: How Value Advisers Strengthen Exit Strategies and Deepen Client Trust