Financial Advisor Marketing Strategies

13 Best Financial Advisor Marketing Strategies

By: Frank DePino | May 22, 2024

With over 241,225 financial advisors currently employed in the U.S., using effective financial advisor marketing strategies is crucial to set your business apart. Knowing how to strategize and market your brand will give you an edge over your competition and boost business.

But how do these marketing strategies ensure business development in such a saturated space?

Marketing strategies for financial advisors can be the key to increasing your brand visibility and attracting the right prospects at the right time. They provide you with helpful leads and equip you with the necessary tools to get them through the sales pipeline and convert them into paying accounts. Not just that; they can also help you re-engage existing clients, thus increasing loyalty and leading to word-of-mouth referrals.

Read on to discover 13 practical ways to turn the odds in your favor and get a bigger bottom line, courtesy of MediaBoom, a web agency dedicated to helping you succeed.

13 Best Financial Advisor Marketing Strategies

Follow these tried-and-tested methods to stand out in the crowd:

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1. Brand Management

To be successful as a financial advisor, you need to enhance the perceived value of your services to demonstrate that you’re a better choice than full-service or discount brokerage firms. For this, you must also develop a brand image that shows consumers what you have to offer.

Here’s how you can do that:

  • Define your value proposition and shamelessly highlight it everywhere. Content? Good choice. Social media? Even better. Website? You’re on a roll!
  • Pay attention to your logo. Use a simple but impactful design that’ll create an excellent first impression and highlights your offerings in a unique way. You can take inspiration for financial advisor logos from seven of the best financial companies to show off your brand’s personality.
  • Use colors heavily; they can increase customers’ recognition of your brand by up to 80% compared to monochrome designs!

Establishing your brand and messaging and refining your mission statement is one of the best ways to increase your leads. Learn how Mediaboom can help you with that by reviewing our case study for Runway Growth Capital.

Runway Growth Capital refined their brand identity and marketing strategies to increase leads

2. Identify Competitors and Find the Target Audience

This is one of the most underrated financial advisor marketing strategies!

If you want to get ahead in the game, you’ll first need to spend some time identifying who your current and potential competitors are and what services they offer. Look at how they spread the word about their business. You can use information from this competitive analysis to find your competitors’ weaknesses and zero in on them to set yourself apart.

You can also use this opportunity to learn from their strengths!

Apart from that, we recommend you identify the target audience you seek to attract; otherwise, you’ll just be going in blind and not getting leads out of it.

For example, if your expertise is in investment management, you need to seek clients who need active trading, portfolio repositioning, or to strategizing the drawdown of their portfolio. Similarly, if your specialty is wealth management, you can offer investment advice to any demographic based on their investor profiles.

Knowing your audience will help you tweak your content to target your specific market.

3. Website Creation

According to a 2017 survey, 84% of participants find a business with a website more credible than their counterparts. So, if you want to get more accounts, you need to create an engaging website and optimize it, like these 27 businesses.

Here are some elements you should focus on:

  • CTA: A landing page must have a well-defined call-to-action to get people to perform your desired action, such as “book a free consultation!” or “sign up to receive our free eBook on investment.”
  • Design: Check for a good visual hierarchy with enough negative space to ensure readability.
  • Navigation: An interactive, easy-to-navigate menu of the services you offer, your story, and contact details will offer a simple yet comprehensive user experience.
  • SEO: Every bit of content should be optimized for SEO to ensure superior search engine placement.
  • Humanizing element: Put your face on your website and a little section detailing your expertise; it will increase trust, ultimately improving your conversion rate.
  • Testimonials: Include reviews from past clients to show people how your services have improved their quality of life. Social proof >>> everything else.

Additionally, a staggering 42% in the 18-21 age range consider mobile banking capability one of their top three considerations. So, your web designers will need to ensure that your website works on all devices.

Feel it’s too much to handle? Contact Mediaboom — a professional website design and development agency — to create a winning WordPress web design for your biz, as we did for Guilford Savings Bank (GSB).

4. Content Marketing

Did you know that 48% of Gen-Z investors learn about finances and investments via social media? This makes “content” king in developing marketing strategies for financial advisors.

You can use tried-and-tested content ideas to post informative, technical blog content writing for website in layman’s language without any sale-sy moves. It can help you meet the E-A-T guidelines proposed by Google, which can bolster your position in SERPs. You can also use it to point your guests’ attention to your landing pages and entice them using lead magnets.

SEO content marketing can be tricky to master, so consider linking with MediaBoom to create a content marketing strategy that delivers maximum leads and conversions.

5. SEO & Local SEO

In financial advisor marketing strategies, SEO and content marketing go hand in hand. And we’re here to show you how you can bank on it.

Suppose you created a flawless piece of content, but if it is not optimized with the right keywords, it won’t be visible on search engines. This can lower the number of people you reach.

That’s why you need to optimize your Google Business Profile. It’ll enable you to harness the benefits of SEO (Search Engine Optimization), enhance visibility, improve your rankings in your area of service, and draw relevant audiences to your website.

The advertising specialist is showing the report of the latest advertising campaigns

6. PPC

PPC or pay-per-click advertising can be a powerful tool to turn your business into a money-minting machine. You’re only paying when someone clicks on the ad, so any leads you get with it are likely to be of high intent, making the cost worth it.

According to Google’s Economic Impact report, it can make $2 for every $1 spent. According to a PPC case study, it can cut down cost-per-acquisition by 80% and deliver a 6x conversion rate when optimized.

You can further improve your results by bidding on the right terms to improve your reach. This is one of the most challenging financial advisor marketing strategies to masker.

The good news is you can skip the trial and error by linking with Mediaboom to maximize your ad spend and generate more leads!

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7. Email Marketing

As algorithms keep changing, you need a strategy that looks beyond blog posts and social media for lead nurturing.

Email marketing is one of the most cost-effective marketing strategies for financial advisors. For reference, these email marketing strategies could help you build trust with your target audience, be it current, potential, or new clients. The key is to provide value with every touchpoint — whether it is current events, new investment opportunities, or changes in tax — to keep subscribers in the loop with the fluctuating market.

Remember to also pace the frequency of your emails, or you’ll risk appearing spammy. Instead, look to segmentation and personalization as they have 46% higher open rates.

8. Retargeting on Those Who Do Not Leave Contact

Retargeting ads are one of the most impactful financial advisor marketing strategies. But their entire premise depends on guests visiting your website and leaving some form of contact information behind, which is not always possible.

So, how do you target anonymous site visitors?

There are many ways to go about it, but pixel-based retargeting works best.

A retargeting pixel is a piece of Javascript code you can plug into your landing page. When visitors leave your website, the pixel will drop an anonymous cookie to their browser, causing ad companies to show your ads to them.

It is entirely behavior-based, so you get to target people who are already interested in your services, which can help conversion.

The marketing team of the financial advisor is creating exclusivity around his services

9. Create Exclusivity on your Services

Scarcity drives demand, which could help you get higher prices for your services. However, you want your prospects to feel like the cost is worth the benefits of acquiring your services.

Do this by leveraging the idea of exclusivity by offering specialized services. It may result in fewer clients, but the ones you do get will be loyal and more likely to reward you with referrals.

10. Prepare Lead Magnets

Lead magnets, or high-quality gated content, can lead to sustainable growth. It helps you grow your email list, learn more about your target demographics, and bring prospects to the conversion funnel. Providing value for free also helps develop meaningful, trusting relationships with clients.

Some popular financial advisor lead magnets include checklists, toolkits, webinars, eBooks, quizzes, fact sheets, and calendars, all of which help offer a more comprehensive touch.

11. Create a Tool to Send Your Services

Instead of spending all your marketing budget on ads or web designers, one of the best financial advisor marketing strategies is to help users out with craft tools. This could be an easy-to-use calculator for checking what their pension will be or how much to invest now to buy their future home later.

It will help offer a better user experience, which can be conducive to your success.

the customer care employee is collecting feedback from the financial advisor's clients

12. Collect Feedback and Improve Your Customers’ Experience

Make sure to collect feedback to show customers that you value their opinions. Interestingly, 13% of unhappy clients will share their experience with 15 or more people while 72% will tell six or more people. So, gathering feedback could help you prevent damage to your reputation.

Plus, if your customer service is excellent, most clients would readily do business with you again, so you don’t have to lose your old clients either!

13. Social Media Marketing

In 2022, 94% of U.S. financial advisors were using social media for business; it’s a marketing plan that is only set to mature in our digital-first world.

You harness its potential through organic growth and paid traffic.

For organic growth, you can create and optimize profiles on Facebook, Linkedin, Twitter, and Instagram to connect with potential clients. The power of user-generated content combined with connecting with influencers on different platforms will help you reach more people and get considerable dividends over time.

In terms of paid traffic, running PPC advertisements on Facebook and Instagram is highly effective. Here are some best strategies you can follow to target the right demographics and increase your leads and conversion rates.

Elevate Your Luxury Brand Today

Schedule Your Free Consultation

Seeking to elevate your luxury business? Let Mediaboom guide you. Secure your exclusive, free consultation with our luxury marketing experts today.

 Sounds Complicated? Hire a Digital Marketing Agency

Financial advisor marketing strategies can help you grow your practice — but navigating it can be a minefield. The simplest mistake can blow it, tanking all your time, the budget you dedicated towards it, and your efforts with it.

Want to avoid that? Contact MediaBoom to learn how we can help!

By: Frank DePino

Frank DePino is Principal and Founder of Mediaboom. Since 2002, Frank has led Mediaboom’s award-winning staff of creative and technical professionals, building the most effective marketing and advertising solutions for its clients.


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