Best Practices And Gifts When Networking With Independent RIAs, Is Booze Ever An Apropriate Gift?

What are some appropriate gifts for senior folks at large independent RIA shops who show interest in possbily being a refferal partner to my firm? I mostly just need to find the balance between keeping in touch and demonstrating continued interest without coming off as pushy or trying too hard. My dad's business makes high-quality handmade fly fishing lures (top waters for bass so no good out west) so i try to give those, but its somewhat rare to find a fly fisher so i was thinking maybe some of my company branded apparel or golf gear.

While i always lead with the fly fishing angle, I am very much into quality whiskey and mezcal and love to introduce people to new brands and styles. Right now a lot of the people that ive sent thank you gifts (previous professional mentors outside of wealth management) have been in tertiary markets for liquor so i sent them fifths of Whistlepig Ten Year Rye, which they seemed a bit suprised when i offered it but they were happy to receive it.

Please provide your thoughts on the above as well as any other best practices you have for outreach and follow up- all contributions are greatly appreicated. 

(For context, I work in business development for a middle market investment bank and real estate advisory firm that does a lot of work with physicians transitioning out of practice. I understand it may take a few years to ever line a deal up with way but it woujld be worthwhile for IRA's with a large healthcare practioner client base (near retirement age))

Comments (1)

2mo 
WSO Monkey Bot, what's your opinion? Comment below:

Qui dolorem ea corporis voluptatem voluptatem. Alias sapiente labore perferendis occaecati aliquam ut. Voluptas consequuntur quia et sed in.

Ea cupiditate architecto officia et. Modi earum dolor est eum.

Fugiat sunt rerum libero. Non dolore minus vel rerum illum tempore iste. Fugit modi fugit fugit provident qui.

Start Discussion

Career Advancement Opportunities

January 2023 Investment Banking

  • Lazard Freres (+ +) 99.5%
  • Jefferies & Company (▽01) 99.1%
  • Lincoln International (▽01) 98.6%
  • Financial Technology Partners (▽01) 98.1%
  • William Blair (▲08) 97.7%

Overall Employee Satisfaction

January 2023 Investment Banking

  • Canaccord Genuity (▲04) 99.5%
  • William Blair (▲04) 99.0%
  • Lincoln International (▲09) 98.6%
  • Jefferies & Company (▲06) 98.1%
  • Financial Technology Partners (▲09) 97.6%

Professional Growth Opportunities

January 2023 Investment Banking

  • Lazard Freres (▲15) 99.5%
  • Financial Technology Partners (▲09) 99.1%
  • Lincoln International (= =) 98.6%
  • Jefferies & Company (▽03) 98.1%
  • William Blair (▲01) 97.7%

Total Avg Compensation

January 2023 Investment Banking

  • Director/MD (6) $592
  • Vice President (23) $401
  • Associates (134) $264
  • 3rd+ Year Analyst (9) $194
  • 2nd Year Analyst (80) $172
  • 1st Year Analyst (257) $171
  • Intern/Summer Associate (41) $167
  • Intern/Summer Analyst (185) $91