The Ultimate Guide to Marketing for Financial Planners

What is Marketing for Financial Planners?

It’s difficult to stand out in a saturated field like financial advisory and planning. With how heavily regulated the financial field in general is, it’s no wonder that there are only a few finance professionals and finance-related businesses with a strong online presence.

That said, digital marketing strategies can be very effective and, if properly invested in, can contribute significantly to the success of your business.

The Oechsli Institute found that most investors under 45 years old with a minimum of $500,000 turn to online searches first when they are looking to hire a financial advisor. Imagine the leads you can generate if many of them ‘stumble’ upon your content first.

In this article, we’ll discuss the best marketing tips to get your name out there and become a successful financial advisor. Read on to learn more about how to grow your business and attract ideal clients. 

The Benefits of Financial Planner Marketing

Obviously, as financial advisors, we aim to devise a digital marketing strategy that will hook in new clients instantly.

To do so, you’ll want to make sure you’ve settled on your brand — that is, what impression you want your clients to get from your financial services and products.

What sets you apart from other financial advisors and financial professionals? Why should they choose you over, say, a mega brokerage like Fidelity or digital investment apps like Betterment?

Answering these questions should shine a light on your branding as a financial advisor if you haven’t thought of one. Create a value proposition or a statement that tells your ideal prospects about your unique abilities, presented from their point of view.

Now that you have the essentials down, you need to determine the metrics and KPIs to track, so you know where you are relative to your goal.

One of your goals should be improving your brand awareness — the more people know about you and what you do, the better.

Make sure you have a functional website set up as well, as that’s how prospects find out more about you. Having a high-converting website helps you maximize the ROI from your marketing efforts.

Drive the traffic that you get from other marketing channels into your website. When more people visit your website, there is a higher chance that potential clients will set up an appointment with you and, in turn, bring in new clients and grow your client base. 

Top Tips for Financial Planner Marketing

While your marketing efforts often revolve around your website, there are a ton of other strategies you can use. Here are a few tips on how you can use these strategies effectively, no matter the channel.

Focus on One Area

We’ve mentioned this a lot of times before, but with how saturated the field is, you need a niche — a section of that saturated field to focus on and market yourself as its specialist.

We know that you have other skills other than just, for example, retirement planning or wealth management. But just because you can do everything doesn’t mean that you should cast a wide net to catch more fish.

As a financial advisor, it’s better to get a foot in the field and stand out first. Once you’re known for something and have a brand of your own, you can widen your niche little by little.

Create Authoritative Content

Due to heavy regulations, most people in the financial industry shy away from digital marketing. Since what we can say and do is limited, it’s important to be mindful of your content online when you’re doing content marketing.

As such, resources about the financial world are scarce — save for common sense like saving and basic investing or freely accessible pieces like excerpts from popular financial books.

Of course, we’re not saying that you should talk about your firm’s trade secrets and make it your marketing material. What we meant was that people will regard you as an authoritative source in the industry if you push out content relevant to your target audience.

For example, let’s say that you’re niching down to retirement planning for dentists in the Midwest. As part of your marketing plan, you can publish relevant information about that niche, such as an article titled “How Much Money Do Dentists in The Midwest Need to Retire?”.

Keep in mind that this piece can take any form — written article, video, infographics, even audio to post as a podcast. Make sure you publish it in the right places, so it reaches the right people. If you decide to do it in a written format, make sure that you’re using search engine optimization (SEO) best practices to help your content rank on search engines.

On top of that, make sure your content resonates with your potential clients without being too specific. We know that sounds confusing, but keep in mind that as a financial advisor, you still need to comply with rules set by the SEC and FINRA. Even liking, commenting, or sharing can be mistaken as financial advice — not only by the regulatory bodies but also by your audience.

Showcase Your Services

Now that we’re done with content creation around your services, it’s time to talk about how to showcase them.

The most effective way to do that is by pushing it through social media marketing. But, of course, there are some things to consider before you press that button. Depending on your audience, your approach should differ — consider the social platforms, content, and messages your readers will resonate with.

For example, if your target market is young business owners, then you’ll likely want to post about your services on LinkedIn, Twitter, and Facebook. On the other hand, if your target audience is an older generation looking to retire, posting largely on Facebook will result in better engagement.

Posting on social media is just one way to showcase your financial services.

Others include hosting events like seminars or webinars meant to pull in potential clients or even offering to fill a slot in public events hosted by your local community, such as churches and schools.

Otherwise, there’s always the option to push content on your services through your email marketing channel or through a regular podcast that you hosted. Make sure to track the views and clicks to refine your marketing plan in the future.

Regularly Engage Prospects

Getting prospects to notice you is half of the battle. To turn them from prospective clients into actual clients, you need to make sure that you stay relevant in their minds.

A popular way to remind them that they can always reach you if they need a financial planner is by being consistent with your marketing channels.

If you have a relevant personal blog, try to post once or twice a month. If you have a newsletter, try to stick to a schedule.

Don’t forget about the prospects in your social media accounts as well.

We don’t mean shooting them a DM or writing a corny ad about it. Aim for something subtle and valuable, such as sharing a relevant event or small financial planning tips. Sometimes just existing (that is, appearing in their timeline) is the best way to do it, even without interacting directly.

Lean on Referrals

Previously, we talked about how prospects seem to shift from the referral system to online searches, but that doesn’t mean referrals will be obsolete.

Most respondents above 45 years old still refer to their friends and family first if they’re looking for a new financial advisor. Even in the younger respondent bracket (under 45 years old), many still prefer asking friends and family when they’re looking for a financial advisor.

There is something testimonials from trusted friends and family have that internet ratings and reviews can’t quite replicate. When people recommend your service to their friends and family, there’s a transfer of trust there — something that online ratings and reviews are trying to replicate but eventually still fall short.

So if you haven’t started a referral campaign yet, this is your sign.

Start by offering happy existing clients deals or discounts for referring someone to you.

Revolutionize Your Marketing Tactics with Asset-Map

The bottom line is that marketing as a financial advisor can take many shapes depending on your target audience.

Having a niche and a good marketing strategy, both digital and conventional, will make it easier to get your name out there. And with today’s technological climate, you need to step up your financial advisor marketing plan — having a website and a social media presence is the bare minimum.

Of course, to stand out from the crowd, you’ll need to be known for something.

Asset-Map can help you create frictionless onboarding and inquiry processes.

Use the Discovery Interview feature to understand your target market better. Illustrate your articles with a simple and cohesive financial map created with Asset-Map. Or make your point with a Target-Map when talking about financial goals and changes within a financial plan.

Be known as the go-to planner for simpler consultations, which leads to more meaningful discussions and satisfied clients.

Book a demo here and see how Asset-Map helps you create frictionless experiences that your clients will love.