7 Innovative Marketing TIps for Fee-Only Financial Advisors

Teaching consumers the value and importance of financial planning is never simplistic. Most don’t recognize the value of hiring a professional to help them make wise investment decisions or a simple budget. Yet, to grow your business, you must be able to capture leads or individuals who are ready and willing to work with you. To do so, it’s essential to effectively market to potential clients.

To help you, consider these innovative marketing tips for fee-only financial advisors. Utilize as many methods as possible to reach your ideal client.

#1: Launch an Informative Series

As noted, many people don’t know the value fee-only financial advisors can offer to them. Teach them. Create a series of lectures or presentations that educate clients on various valuable topics.

For example, host a class on bookkeeping for small business owners. Bring in a speaker or another individual – perhaps an accounting professional you can partner with – to provide insight. Then, educate your attendees on the value of financial planning as a component of this. Choose a range of topics that you know your target audience is interested in, both professionally and personally.

Send out messages to your email list about your series. Contact local business owners directly to let them know about the series. Talk to corporate companies in your area that may have interested parties.

#2: Hire a Professional to Run Your Social Media Campaign

innovative marketing strategies for fee only financial advisors

Today, consumers turn to social media for information, often bypassing websites from experienced professionals. If you do not have a well-designed, consistent social media marketing strategy, you are missing perhaps the largest number of your target customers. Yet, capturing these leads is difficult even in the best situation. Hiring a professional to do the work for you can give you a leg up in this arena.

Select a company that will work with you to learn your business, create engaging blog posts to use on social media, develop targeted campaigns for your specific needs to generate leads for you. They also build your brand, another critical factor for today’s fee-only financial advisor. The ROI on hiring a team like this tends to be exceptional especially if you turn to a company that specializes in fee-only financial advisor marketing.

#3: Use a CRM to Close More Leads

If you are getting leads for your business, but you are not able to connect with them effectively, it may be because you are not putting enough time into developing those leads. That is, you need to contact them several times providing them with insight and information before they make the decision to become a client.

The best way to do this is through an automated process. A Custom Relationship Management system (CRM) makes this possible. It allows you to create, store, and organize contact information for these leads. You can then create newsletters, informative emails, and direct sales pitches to send to them through a series of emails. This brings these individuals back to you and builds your brand in the process.

#4: Connect Directly on Instagram

Outside your professional role as a fee-only financial advisor, you have hobbies and interests. Be sure your would-be clients know about them. Within your brand marketing should be a personal component. You want your brand to represent an approachable, real person who understands the struggles of your clients. To do that, launch an Instagram page for your business or your personal needs. Then, interact through video as well as photos. Show people who you are, what you have to offer, and just how relatable you are.

#5: Build Reviews Online

Reviews are the equivalent to word-of-mouth marketing today. That is people who have a good experience go online and use a variety of review sites to provide others with insight into who you are and what you’ve done for them.

Reviews can be difficult to get. To do so effectively, ask your existing clients for a reference. An easy way to do this is simply to connect with your clients on sites like Facebook and Google. Send them a link to ask them to review your business. This can help you build your client base.

#6: Market Your Services

Another key area of focus should be on telling people, specifically, what you can do for them. A fee-only financial advisor label isn’t enough. Tell them about the services you have. While today we focus a lot on how to not sell in social media marketing, there’s still the importance of communicating your services. What do you offer? Who do you work with? How much does a person need to use your service?

What unique value do you bring to the table? What have you helped other clients accomplish? Your goal here is to provide information about your services in a conversational, story-like manner. Teach them about your services through examples. You want them to see what you have done for others and want the same for themselves.

#7: Be Active in Your Community

There are two areas to focus on here. First, you want to be active within your local business community. Many of your clients will be business professionals (in most areas). Being active here allows you to connect with those people most likely to use your services. Volunteer at organizations. Attend meetings through the local Chamber of commerce. Join local business groups (both online and in person) to be a member. Share, learn, and network.

Do the same with the rest of the community. That is, sponsor local sports teams. Be active in your religious affiliation (if you have one). Be part of local charities. By doing this, you are able to build your brand. You want people to recognize who you are.

Additional Tips to Market Your Fee-Only Financial Planning Business

Here are a few more ideas to help you create the strong leads you need for your financial planning business:

  • Establish yourself as an expert by writing informative articles online and for local publications.
  • Create and host a podcast sharing specific information your clients need. Market it through your social media.
  • Market for the market – create marketing campaigns designed to educate people on market corrections and crises. Always market based on what is valuable to people – your target customer – right now. What are they worried about?
  • Develop a niche within the financial planning industry. Become the local expert here. Host meetings at the library or other organizations to educate people about this area. Build your website around this niche. It helps reduce some of the competition.
  • Create a blog. Use it for search engine optimization. And, be sure to have a lead-capture tool in place. Provide easy-to-understand content to those who are most likely to visit your website.
  • Offer free advice to those in need. One-on-one planning events can help you to give them some insight. Then, work to build their business.
  • Interact with people on social media. Putting put posts isn’t enough. While you can’t provide personal advice, you can encourage them to continue to learn and to contact you for help.

As an independent fee-only financial advisor, you need a comprehensive marketing strategy to reach your audience. Use these tools and methods as a launching point. Connect with the pros that can help you. We are here to help. Feel free to reach out anytime.

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