Digital Marketing Strategies for Financial Advisors

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Digital Marketing Strategies for Financial Advisors


Consultants have many ways to market their business online. The key lies in selecting a company that maximizes customer acquisition and leads to the achievement of a company’s strategic goals.

According to one study, over 40% of consultants have gained more clients through social media marketing, and almost a third plan to increase spending on their website in 2022 Broadridge Financial Solutions survey. The study found that a well-defined marketing strategy is associated with more positive business outcomes, yet only 28% of consultants have one in place.

Read: In the battle to comply with the SEC’s marketing rules, consultants wrestle with ambiguities

According to Lou Calabrese, chief marketing officer at San Francisco-based wealth management firm Robertson Stephens, social media, email marketing and a website are the top digital marketing tactics advisors need to invest in. Calabrese said consultants should spend about 10-15% of their time on marketing strategies.

“It’s your way of getting new business to the door that goes beyond traditional waits like referrals, customer introductions and influencers,” Calabrese said.

The survey found that 30% of consultants plan to increase their marketing spend over the next 12 months, particularly on websites and social media. Currently, consultants spend around 3% of their business revenue on marketing, while chief marketing officers report an average marketing spend of 8.7%.

“It’s a loop,” said Rebecca Hourihan, founder of 401(k) Marketing, a San Diego marketing firm for retirement advisors. “The consultant shares an email, a social media post, or a content marketing post, and then people like it, they comment and share it, and that translates into recommendations, happy clients, more favorable ideas and easier time to meet face-to-face with the consulting firm.” .”

Read: Marketing trap: SEC warns new consultants about compliance deficiencies

Scroll down the card show for tips and tactics from marketers on how financial advisors can grow their business.



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