Communication
Consumers favor one-way communication. They want to passively consume information and evaluate advisors without pressure or direct interaction. Consider our platform, for example. FreeFinancialPlan. com collects consumer contact data for purchasing advisors and institutions( consumers are told in advance how we use the information). But 99 % of FreeFinancialPlan. com users don’ t share their phone numbers voluntarily while 100 % share their email.
Yet advisors often prioritize phone calls and in-person meetings to establish connections.
Relationship Building
Trust is something that has to be earned. Advisors can’ t just assume they will immediately establish it. Today’ s clients value relatable, consistent insights that address their needs, and they want to find this before they will reach out to somebody personally. Many advisors, however, put their credentials and experience up front, hoping they can skip the longer, gradual work of trust-building.
Decisions
Clients often evaluate advisors from a distance— looking at their articles, videos or online tools— before they commit to a conversation or financial decision. Advisors, on the other hand, are often hoping to find those clients who are ready now to act on a financial decision. In fact, they may dismiss the“ tire kickers,” seeing those people as time-wasters rather than long-term opportunities.
For modern clients, trust builds slowly, often before direct interaction. Advisors who adapt to this reality will be better positioned to win their business.
Why Does This Matter?
Advisors’ preferences, mirroring those in all financial services, are to find those consumers who already have money in motion, and lead generation companies focus almost exclusively on finding these 1 % of high-intent prospects. These lists mean those clients also come at a higher cost.
But what about the other 99 %? Those consumers may not be ready to move their money today; they are, however, open to hearing insights, filtering advisors and building trust over time. By the time they’ re ready to act, they’ ll have a short list of advisors they trust. By that time, the advisors who waited for money in motion will be scrambling to get on that list.
Those prospects who are waiting to make a move represent an untapped opportunity( and should come at a lower cost). By engaging them early and strategically, advisors can build long-term trust at a fraction of the price required to compete for ultra-high-intent leads. This creates a more sustainable model with a higher overall return on investment, since nurturing these relationships over time positions advisors to capture value when these clients are ready to take action with their money.
Bridging The Divide
All is not lost. Advisors who adopt a long-term approach that centers on individuals— giving them educational value, respecting their timelines and building trust without pressure— will find greater success. This doesn’ t have to be cumbersome; by investing in qualified prospects, those without immediate intent to move money and with a longer time horizon, and by using marketing technology, you can build and easily nurture a cost-effective pipeline. While these prospects may not be ready to move their money today, they’ ll turn to the advisors who have already established themselves as valuable, trusted resources when the time comes.
Ultimately, the key is meeting prospects where they are, not where you expect them to be. Recognizing and respecting this difference is the first step to truly speaking the same language— and building the foundation for future success.
TOM ANDERSON is founder and CEO, and Britton Lombardi is CFO and head of strategic partnerships of Anasova, a marketplace that connects advisors to people who have received a free financial plan. BRITTON LOMBARDI is CFO and head of strategic partnerships of Anasova.
The Results Are In
FA-MAG. COM / RIA2024
SPONSORED BY
APRIL 2025 | FINANCIAL ADVISOR MAGAZINE | 33