Financial Advisor Marketing Plan to Ignite New Business Growth

How are you growing your client base?  What is your financial firm’s new business strategy?

Your financial advisor marketing plan is a fundamental aspect of a financial advisor's new business strategy. It helps in client acquisition, brand building, relationship management, and staying competitive in a rapidly changing financial landscape.

The landscape of financial services is undergoing significant changes, driven by various factors such as technological advancements, shifting consumer preferences, regulatory developments, and global economic trends. The need for effective marketing strategies in this evolving landscape is crucial for financial services professionals.

Know Your Audience

When was the last time you took the time to identify your target clients and their needs?  What products or services best align with their needs and wants?  It’s time to create buyer personas to better understand and target your potential clients.  

It will give you better insight into the client's journey in their financial decision making.  For example, 64% of Gen Zers learn about finances through online research with 63% of them using financial institutions’ classes and seminars to expand their knowledge. With this information, you can create sales and marketing content to resonate with them. 

Establishing a Strong Brand Presence

Your prospects have thousands of options from full-service brokerage firms, registered investment advisors (RIAs), discount brokerage firms, and even robo advisors. What sets you apart needs to be the core of your financial advisor's marketing strategy. It should be reflected in a responsive website design, sales process, and marketing message. 

The brand must help to build trust.  Trust is a major factor when people are selecting a financial planner or wealth management firm. Talk about your experience, the number of clients you have served, and your educational background. Don’t forget to consistently showcase your more advanced credentials such as CFP, CFA, CLU, etc. on every marketing channel. 

Tailor Content Marketing to Your Target Audience & Personas 

Knowing what may work best for your target client will help you develop financial content ideas that best fit the investor audience you’re hoping to attract. For example, clients in a younger demographic may prefer educational blog content or video, while the older demographic may prefer more personalized email and webinars. 

Keep your clients and target audiences informed with newsletters, tax deadlines, industry insight, and more.  Share your knowledge and repurposed content with prospective clients. Don’t forget to optimize your content for search engines for better visibility. 

Stay Connected with Email Marketing

Email marketing is a valuable part of a financial advisor marketing plan to help you stay connected to your current and potential clients. You’ll need to segment your email list to execute an email marketing strategy. For example, a list of potential clients, you can use sales automation or sequences to book introductory appointments. With existing clients, you can cross-sell financial products based on their existing portfolio. 

You can use email marketing to improve efficiency.  For example, if a prospective client downloads a checklist or guide, it would trigger a workflow for an email campaign to book a free consultation. 

Promote Your Brand with Social Media Marketing

Social media activity can be a tricky arena for a financial advisor because of the strict compliance rules set by FINRA and the SEC. Be careful with your actions on social media because likes, shares, and comments can be considered as implied investment advice. 

Start by claiming and branding your social media profiles for consistency.  Share information about your articles, events, and webinars. Use pre-approved content from other financial resources.  For example, Wells Fargo Advisors has investment insights and life event materials to support their advisors. It can be used to develop relationships or social selling for your specific niche. 

Set Goals, Tracking and Analyzing Results

There are many different types of sales and marketing goals that you can set for your practice. To set effective goals, start with the SMART framework: specific, measurable, achievable, relevant, and time-bound. You might want to consider creating sales goals around increasing brand awareness or new appointments for your niche.

Here are a few items to focus on:

• Implement Google Analytics tools for website and social media.
• Monitoring key performance indicators (KPIs) for sales and marketing 
• Adjusting strategies based on data-driven insights.

Compliance and Regulations is Elephant in the Room 

The elephant in the room for a strong financial advisor marketing plan is compliance. You want to make sure to follow the new SEC Marketing Rule 206(4)-1 and its amendments around marketing practices and the addition of cash solicitation rules. The SEC’s new definition of “advertising” may differ from your interpretation. 

Many financial institutions have a compliance team so use them to ensure your marketing efforts comply with financial regulations. Stay informed on the latest guidelines and how your competition is adapting to them. Have all of the marketing materials reviewed for compliance from the website to blog content. 

Get Started with Your Financial Advisor Marketing Plan 

In today's digital age, where consumers have unlimited access to information and choices, it is more important than ever for financial advisors to have a powerful marketing plan in place to ignite new business growth. This means understanding your target audience and their needs, creating buyer personas, and establishing a strong brand presence. By taking the time to do this, you are not only positioning yourself as an expert in the eyes of potential clients but also gaining valuable insights into their financial decision-making process. 

With the help of technology and social media, you can reach a larger and more diverse audience, including the up-and-coming Gen Zers who are becoming increasingly financially savvy. With competition in the financial landscape growing every day, it is crucial for your firm to stand out from the rest by establishing a strong brand presence through effective marketing strategies. So why wait? Take action now and download our 1-page marketing plan to start seeing results in your business growth and success. Your future clients will thank you for it!