6 Financial Advisor Marketing Tips (2024)

The financial advisor space is saturated. If you’re a financial professional, developing a strong marketing plan is crucial to gaining more clients. Utilize these six steps to craft a successful strategy that aims to put a spotlight on your name and business.

1. Identify Your Target Market

Marketing is all about communicating your services to a potential market. But first, you need to figure out who you’ll be talking to.

Effective communication isn’t tailored to speak to everyone, which is why it’s best to start by identifying your ideal clients. If you’re a financial advisor who specializes in young-adult finances, then your target market may be millennials or late Gen Z. If you’re a financial advisor that’s great at crafting inheritance plans, then you’ll likely target wealthy individuals or families.

After identifying your target market, you should do some market research:

• Where does your target market get their information?
• How do they speak to one another?
• What are their interests?

This knowledge will help you understand how to speak to your market and what type of information they value.

2. Come Up With an Overall Marketing Strategy

A marketing strategy is a specific plan for reaching your market-related goal. The plan will include a variety of smaller goals that will help you achieve your overall mission.

A financial advisor’s overall marketing goal could be to gain more clients. Or it could be to establish themselves as an expert in the financial advisor space. These overall goals could be achieved through smaller goals, such as growing a LinkedIn audience, sending out a quarterly newsletter or getting 100 new online consulting inquiries each month.

Your overall marketing strategy may change over time as you accomplish smaller goals and establish your presence.

3. Establish an Online Presence

Technology is a crucial component of life and business these days. It’s likely that you cannot have an effective marketing strategy without establishing an online presence to help you execute it.

Your online presence should include an engaging website, a dedicated Google business profile, social media accounts and valuable contributions to any third-party websites.

4. Create an Engaging Website

Now more than ever, consumers use the internet to research potential buying decisions, including purchasing financial services. You’ll want to make sure you have an engaging website potential clients can find while they research your name and company.

A good website is easy to navigate and tells your professional brand’s story. You’ll want to include relevant examples of how your services have helped and improved the lives of past clients, as well as listing how you can help future clients.

Don’t forget to include a form where potential clients can inquire about a consultation.

5. Publicize Your Services

After you establish an online presence and create an engaging website, you can advertise these platforms on your social media accounts, or by running ads on sites like Google or Facebook. If you decide to invest any money into pushing ads, be prepared to not see a large return on your investment at first.

Publicizing your services may also mean becoming a subject matter expert in the financial advisor world. You can contribute and provide quotes to news outlets to help consumers navigate financial news or provide commentary for journalists working on articles about complex financial topics. These strategies don’t show immediate results, such as an increase in your Twitter followers, but they’ll help make your name trustworthy among potential future clients.

You can also publicize your online presence and services by asking clients and potential clients to follow your accounts after meeting with them during consultations or workshops.

6. Write a Newsletter

People may not think emails are an up-to-date marketing tactic, but that’s not always the case. Emails are some of the most intimate forms of engagement you can have with your audience.

By crafting a newsletter, you can share your voice and expertise directly with clients or potential clients. Your newsletter can be sent out weekly, monthly or even quarterly and should cover one topic that will establish you as a subject expert matter. Be sure to include appropriate calls to action (CTAs) for your services in your newsletter to help convert potential clients into actual clients.

Bottom Line

The financial services space is crowded. It’s crucial for financial advisors to come up with a solid marketing plan to help them establish trust with the public and gain clients. An effective marketing strategy includes coming up with an overall plan, identifying your target audience, establishing an online presence, building a sharp website, publicizing your services and writing a newsletter. Combined, these tasks will help build a solid professional brand—and win you more clients.