Articles About Financial Advisor Marketing

An advisory firm's website often serves as the hub for attracting new clients, with various forms of content acting as 'spokes' that attract prospective clients to the firm. But for many advisors, the hardest part of creating a content marketing strategy is knowing where to start. Without a structured approach, content creation can cost the advisor valuable time without leading to meaningful leads.

In this guest post, Mikel Bruce, CEO of TinyFrog Technologies, discusses how financial advisory firms can leverage the AIDA (Awareness, Interest, Desire, Action) framework that outlines the stages of a prospect's decision-making process to create a clear, effective content marketing strategy. By aligning website content to the AIDA journey, firms can engage visitors in a way that encourages them along a sequential path toward becoming clients. This structured approach helps ensure that marketing efforts translate into measurable results rather than scattered content that fails to gain traction.

Because very few consumers wake up one day with the sudden realization that they need a financial advisor (let alone know which advisor they want to use), firms can focus their efforts on guiding prospects through the decision process. The first step of the AIDA process, Awareness, centers on helping prospects recognize the firm's existence. This can be done through various forms of content – including blogs, videos, and/or podcast episodes – that address common pain points of the firm's ideal client. Additionally, firms can extend their content's reach by repurposing materials across different platforms (e.g., turning a blog post into a video that both explains a topic and showcases the advisor's personality).

Once a prospect's attention has been captured, the next step is to build Interest by encouraging them to explore their problem in more depth. At this stage, prospects begin researching solutions and engaging with educational resources. Firms can support this engagement by offering high-value content (e.g., white papers or in-depth articles), while requesting the prospect's contact information in exchange. This allows firms to follow up with email sequences that introduce the firm, highlight key services, share relevant resources, and invite prospects to take the next step, such as scheduling a call.

As prospects learn more about how the firm can address their specific concerns, they may begin to develop a stronger Desire to engage. At this stage, building trust is essential. Firms can showcase credibility by providing client testimonials, case studies, and success stories that illustrate how they have helped others achieve similar goals.

Finally, at the Action stage, prospects are ready to decide whether to engage with the firm.  A well-structured process page on the firm's website can provide clarity on next steps, reinforce the value of working with the firm, and establish clear expectations for the advisor-client relationship. Additionally, a simple, compelling Call To Action (CTA) – such as a scheduling link, contact form, or direct phone number – helps guide prospects toward taking the final step.

Ultimately, the key point is that a well-designed website, built with lead generation in mind, can be one of an advisory firm's most powerful tools for attracting and converting highly qualified prospects. The key lies in creating a thoughtful, targeted content strategy that meets prospects where they are – guiding them from initial Awareness to taking Action. And by doing so, firms can transform their website from a passive digital presence into an effective catalyst for long-term growth and success!

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Centers Of Influence (COIs) play a vital role in the growth and service capabilities of a financial advisory firm. When cultivated with care, these relationships can become valuable sources of client referrals and collaborative insight – especially because COIs and advisors often work with similar client profiles. However, establishing these relationships isn't always easy. Advisors must first identify potential COI relationships, then find a way to get 'in the room' with them, assess for mutual fit, and set clear expectations for building a long-term, productive partnership.

In this article, Tiffany Charles, Chief Growth Officer at Destiny Capital, and Kitces.com Senior Financial Planning Nerd Sydney Squires offer a thoughtful framework for approaching COI relationship development with greater intentionality. Drawing from Tiffany's real-world process, they provide not only practical guidance for building productive COI partnerships, but also strategic insights into why a more structured approach can lead to stronger, more sustainable results. The goal is to help advisors move beyond surface-level networking and into truly collaborative relationships that can benefit both professionals – and the clients they serve.

As a starting point, recognizing that COI prospecting deserves the same level of structure and care as client prospecting is crucial to developing fruitful COI relationships. When initial meetings are focused solely on small talk with only a vague mention of "doing business together", the results often lead to little, if any, follow-through. Tiffany's process, by contrast, begins with those who are already within her own – and her clients' – network and progresses over a three-meeting framework that lends structure to the early stages of a COI relationship while creating space for genuine connection, thoughtful evaluation, and meaningful alignment.

The first meeting is focused on building rapport and conducting an initial assessment. It serves as an introductory conversation with COIs who may be a valuable resource, with the primary goal of exploring values, communication styles, ideal client profile, and experience working with other professionals. In the second meeting, the goal is for both the advisor and COI to deepen their understanding of each other's services and client experiences, comparing ideal clients, service models, and overall business value propositions. If there's alignment and mutual interest, a third meeting is arranged to commit to a working relationship – agreeing on shared goals, referral expectations, and how to communicate effectively moving forward. From there, Tiffany recommends evaluating the relationship at regular six-month intervals to evaluate what's working and where opportunities for deeper collaboration might be possible.

Ultimately, the key point is that COI relationships can flourish when there's a shared commitment to collaboration, clarity, and long-term value. By following a repeatable process and prioritizing genuine alignment, advisors can build COI partnerships that don't just generate referrals – they help both professionals grow together and better serve the clients they support!

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Online reviews are commonly given and used by consumers across many industries, from finding a good restaurant in a new town to reviewing a lawn care service provider. Nonetheless, fewer than 10% of SEC-registered investment advisers report using them, even though the SEC’s updated investment adviser marketing rule allows financial advisors to proactively encourage testimonials (from clients), use endorsements (from non-clients), and highlight their own ratings on various third-party review sites. Which suggests that advisers have an opportunity to leverage the power of online reviews, which can act as "evergreen referrals" and drive more prospects to seek out the firm’s services, all while adhering to their firm’s compliance requirements.

While some advisors might be concerned that reviews they encourage clients to make on the firm’s Google Business Profile could be seen as advertisements (creating additional compliance requirements), the language of the rule (and the SEC’s stated intent behind it) suggests that by providing all clients an equal opportunity to leave candid feedback on a Google Business Profile would not in and of itself turn that content into an advertisement (unless the content was later endorsed or approved by the adviser). However, selectively asking a subset of clients for testimonials, or guiding their responses to encourage more positive content (involving themselves in the preparation of the content), would likely result in the content being considered a communication of the adviser, potentially rendering it an advertisement subject to the disclosure and compliance requirements of the marketing rule.

Even though the updated marketing rule has enhanced advisers’ ability to leverage online reviews, some advisers might wonder whether clients will actually leave reviews (and, if, so, whether they will be positive). However, an analysis of thousands of Google reviews from financial advisory firms around the country shows not only that clients are willing to leave reviews (particularly if the firm has a proactive strategy for review generation), but also that firms with the most reviews tended to have higher than average ratings for advisory firms overall. Further, advisers tend to have higher ratings than businesses in other industries (perhaps reflecting the financial planning industry’s high retention rates and ability to make a difference in clients’ lives!).

To create an effective (and compliant) Google review strategy, a starting point for advisers is to update their Form ADV to reflect the use of testimonials and their Policies & Procedures to govern their approach to collecting, approving, and sharing testimonials. Next, by taking a proactive approach to reinforcing where they add value (e.g., because the most enthusiastic testimonials related to clients feeling like their adviser was delivering a personalized plan, advisers who address client concerns directly and make them feel a part of the process could generate more positive reviews). Further, advisers can potentially reduce the number of negative reviews received by ensuring that prospect and client relationships that do not work out (e.g., when a prospect does not meet the firm’s asset minimum) are handled respectfully (e.g., by referring the prospect to another advisor who might be able to better meet their needs) so that the individual does not feel compelled to leave a negative review.

Ultimately, the key point is that the SEC’s updated marketing rule provides advisers with the opportunity to boost their online reputation through the use of online reviews. And by taking a proactive approach (both to encouraging reviews and to meeting the rule’s requirements), advisers can potentially increase the number of inbound prospects they attract while remaining in compliance with the marketing rule’s requirements!

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Soliciting prospect referrals can often be an effective way for financial advisors to grow their firms with clients who are ready to act and who will benefit from the firm since many referrals come from sources that are familiar not just with the advisor and the services they offer, but also with the prospect being referred and the needs they seek. This is particularly true when referrals come from Centers of Influence (COIs) – professionals who are trusted by their circles to influence ideal prospects to consider an advisor in the first place. Yet, many advisors might not prioritize networking with COIs or approaching them for client referrals and, as a result, may miss potential opportunities for valuable client referrals.

In this guest post, Michael Schein, founder of MicroFame Media and author of The Hype Handbook, helps advisors recognize how COIs can be powerful referral generators and shares his process of building connections with COIs using the power of their own "soft assets" that help them identify and leverage shared interests and skills not necessarily related to professional achievements.

Soft assets are talents, interests, and skills that are not directly related to one's professional field. They tend to come naturally, are plentiful, and are easy and pleasurable to share with others (such as an enthusiasm for cars, cooking, or closely held values). And the financial advisor who can find an overlap between their soft assets and the interests of a COI they'd like to connect with is much more likely to be successful in their outreach efforts. This is because they demonstrate that they are paying attention and want to 'deposit' something meaningful with the COI, rather than just seeking to 'withdraw' from whatever services the COI may have to offer.

In order to identify a match of soft assets, something as simple as following potential COIs on social media and noting the issues and interests that are shared at any given time can be a great starting point. From there, when the advisor is ready to reach out (whether via email, social media messaging, or something similar), leading with soft assets is key to building common ground. Often, sharing a connection through soft assets can be more valuable than the professional services of the COI – at least at first. Of course, the professional 'ask' can (and should) still be present, but "burying the lede" by placing this ask deeper in the email or message can help advisors establish connection-oriented alliances with these COIs – and from there, unlock the door to long-lasting professional relationships!

Ultimately, the key point is that building connections with COIs can sometimes take time and effort – but when advisors can align overlapping soft assets with a COI and identify shared, more personal common interests, they are far more likely to develop relationships that offer mutually beneficial outcomes. Which means that introspection and awareness of their own personal interests can take advisors a long way to connecting with COIs and new clients – and, in the end, leading to arrangements that benefit everyone!  

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Referrals can play a vital role in the growth of financial advisory firms since finding prospective clients via referral requires virtually no hard-dollar costs, and it takes only a fraction of the time needed for other marketing channels like social media, blogging, and seminars. However, finding reliable sources of referrals can sometimes be challenging for advisors: Centers of Influence (COIs) like accountants and attorneys may not be as attuned to the advisor's services as the advisor's clients themselves, yet asking current clients for introductions to people in their networks can be awkward since not all clients are equally receptive to being asked to provide referrals (and clients who aren't inclined to offer referrals can even have a negative reaction to the request, potentially damaging the advisor-client relationship!).

In this guest post, Todd Fithian, co-founder and managing partner of The Legacy Companies LLC, discusses a systematic approach that advisors can take to ask clients for referrals. By first identifying clients who are receptive to the idea and who would most likely be viable referral sources, advisors can focus their efforts on those clients rather than devoting resources to clients who wouldn't want to be approached for a referral in the first place. By designing simple surveys to determine clients' Net Promoter Scores, advisors can divide their clients into groups of those who may be more (and less) likely to want to 'promote' (i.e., refer others to) the advisor. This can help the advisor decide who to ask for a referral and who to avoid the subject with – although for the latter group, scheduling a separate meeting to discuss potential issues that underlie the clients' reluctance may provide valuable insights about both the advisor's processes in general and any relationship concerns the client may have more specifically.

After identifying potential clients who might serve as good "active promoters", advisors can take the next step by asking clients whether they'd be willing to refer people in their networks who might benefit from the advisor's services. One way to do this is to invite the client to a Dedicated Introduction Meeting (DIM) where the advisor and client can review the client's personal or professional networks and pinpoint contacts who might align with the advisor's firm and benefit from working with the advisor. To this end, it's essential to provide the client with guidance by clarifying the advisor's ideal client profile (since prospective clients who align best with the advisor's value proposition will more likely become clients themselves), which will also help clients narrow the list of introductions to contacts who would be a good fit with the advisor.

Ultimately, the key point is that asking for client referrals shouldn't feel like it pushes any boundaries with uncomfortable requests; instead, it should feel more like a natural progression of the authentic relationship built between the advisor and the client. By developing a process centered around respect for the client's willingness to open up their network to the advisor – as well as their trust that the advisor could serve those potential clients well – advisors can make the process feel more natural for clients while effectively bringing in their ideal target prospects!

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As marketing and prospecting processes become increasingly digital for financial advisors, many prospective clients learn about advisors and what they offer not from an introductory call, webinar, or speaking event but from the advisor's website itself. Talking about money is often highly personal and can leave individuals feeling vulnerable, so choosing who to serve in such a high-trust role as a financial advisor can have immense stakes. Which is why it's crucial for websites to give prospects the ability to see themselves as clients, and to understand what beginning and maintaining an advisor-client relationship might look like. These steps can make a measurable difference in 'demystifying' an otherwise obscure process for a first-time prospect and help them move into action.

In this guest post, Mikel Bruce, CEO of TinyFrog Technologies, discusses building a prospect-focused Process page into an advisory firm's website as a crucial part of the sales funnel to get calls from prospective clients by clarifying the process, demonstrating an advisor's unique value proposition, and providing an easy way for prospects to 'raise their hand' when they're ready to act.

As a starting point, a well-built Process page performs 4 critical functions. First, it establishes expectations for the prospect around the process of becoming a client (including the type of calls involved, the onboarding steps, and how long it takes) and the general communication style of the firm. Importantly, keeping this overview simple, high-level, and prospect-focused is crucial. Second, a Process page should use language that helps prospects identify with and envision themselves as ideal clients of the firm. Third, the Process page should describe the specific (and likely niched) issues the firm addresses with its clients. Fourth, the Process page clearly shows how interested prospects can move forward in scheduling a consultation (or however a firm would like to meet with them) by offering easily accessible call-to-action tools (e.g., calendar and scheduling software tools built directly into the Process page). Process pages can also include a simple FAQ section to address questions about fees, working style, or the frequency of meetings that ongoing clients can expect.

Once advisors have created their Process page, they have a few ways to start optimizing it. First, they can build funnels that direct traffic to the Process page from different places on the website, with multiple user paths depending on the type of prospect and their pain points. Advisors may also want to A/B test various aspects of their pages – calls to action, for example, or different language – to see if one feature or another influences how many prospecting calls they get in turn.

The key point is that finding a trustworthy advisor with whom prospective clients can build a relationship is not a quick or easy process – but an advisor with an effective Process page can help prospects envision the unique value they can derive from engaging with the advisor, making it easier for them to understand the benefits of a long-term planning relationship and, ultimately, to decide to become clients!

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