ADVISOR MARKETING

Susan Theder

Keep these things in mind when you ’ re planning to show your firm to the world .

OW DO YOU DIFFERENTIATE YOURSELF IN A SEA OF sameness ? As 2024 approaches , a number of marketing ideas come to mind , and one theme woven through them is the power of brand : Yours should convey the genuine care you have for your clients .

I ’ ve collected five ideas I think you should be keeping in mind next year . As you ponder each , consider : Your audience has real feelings about the topics you ’ re discussing . Keep those feelings in mind , not just the descriptions of the services you offer .

1 . Words Will Matter

Words hold immense power . It doesn ’ t matter if they ’ re written or spoken . What does matter is how they make someone feel , so the services you describe to prospective clients must emotionally resonate with them .

That ’ s why you should use words that showcase your emotional intelligence . Why ? Consider that Morningstar research found that clients are 50 % more likely to hire an advisor for emotional reasons than financial ones ( 60 % against 40 %). Other research suggests that advisors with higher EQ skills get twice as many referrals .

Here ’ s an example of how words matter . How often do you say , “ I help clients save for retirement ”?

What if you said instead , “ I help clients live a retirement where their choices aren ’ t dictated by money ”?

Words hold immense power . It doesn ’ t matter if they ’ re written or spoken . What does matter is how they make someone feel .

Do you say , “ I create comprehensive financial plans ”? What if you said instead , “ I create road maps to help clients rest easy knowing they ’ re on track ”?

With these things in mind , you should audit the messaging on your website and client communications . You might find yourself wanting to shift from functional descriptions of what you do — helping people save for retirement , creating comprehensive financial plans , etc .— and instead connect these services to your clients ’ larger meaning or purpose , something that fulfills their emotional desires .

2 . You ’ ll Be Capturing Money In Motion

Studies suggest that many children fire their parents ’ financial advisors . If that ’ s the case , how will you improve your chances of capturing the well-publicized “ great wealth transfer ”?

For starters , you ’ ll need to make sure your digital brand is appealing to multiple generations . Next , you ’ ll need to make the kids aware of and familiar with your expertise , using your educational content to draw them in .

We recently teamed up with an advisory firm that wanted to modernize its website — and to make sure the site would resonate with more than one client generation . The firm also signed up for our marketing program , “ Do It For Me ,” at FMG Suite , which creates two to three blogs per month for advisor

18 | FINANCIAL ADVISOR MAGAZINE | DECEMBER 2023 WWW . FA-MAG . COM