Creating a marketing strategy for your wealth management firm can feel overwhelming at times. You’re in the business of managing your client’s wealth, not your firm’s marketing strategy. This is exactly why many of the financial professionals we work with often feel frustrated when it comes to creating and implementing a marketing strategy for their wealth management firm. To help you overcome this challenge we recommend breaking your firm’s marketing down into smaller pieces to help you identify the areas you’ll need to focus on first, and to help you break things down into actionable steps.

Marketing Strategies for Your Wealth Management Firm:

Social Media Marketing

Improving and leveraging your social media can boost your firm’s overall marketing. When you’re visible and easily accessible, you’ll naturally reach your target audience. Social media is a great free resource to display an overview of what a potential client can expect when working with your firm. To do this, share valuable informative content, host webinars, participate in discussions and establish yourself as a leader in the field. Consistency and authenticity are the most important part

Collecting and Sharing Testimonials

Client testimonials play a significant role in building credibility and trust among potential clients. By showcasing success stories and positive feedback, as a wealth manager you can strengthen your firm’s reputation. Networking and collaboration are also important to expand the professional network and seek potential referral partnerships. And thankfully, now the SEC now allows you to use testimonials, and we definitely recommend incorporating this into your marketing strategies. Essentially the new regulation defines a testimonial as any statement made by a client regarding their experience with a wealth manager. There are a few key conditions to keep in mind when using testimonials in your marketing efforts as a wealth manager:

  • Compensation for testimonials is forbidden
  • The individual providing the testimonial cannot be a personal friend or a relative (they must be an existing client)
  • The testimony needs to refer to the experience the client has had working with you – it cannot talk about any guarantees or promises

Content Marketing

Offering educational content is key in wealth management marketing. This is why we encourage you to host educational webinars, videos, podcasts and workshops to educate your clients about financial planning, investment strategies, and market trends. Consistently sharing valuable educational content establishes your firm’s advisors as valuable resources for clients. Showcasing your expertise also exposes a potential client to the high-quality skills your firm possesses. The goal is to keep your firm in front of a potential client so when they are ready to hire a wealth management advisor, you will be the one they contact.

Breaking your marketing strategy into smaller, key areas for you to focus on will simplify your approach and help you take action. By enhancing your social media, displaying client testimonials, and creating educational material to share online will all work together to help you enhance your wealth management firm’s brand presence, paving the way for your firm’s future growth and success.