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By Savannah Brunette Outreach

Five Little Things for Your Monday: October 16, 2017

5 minute read

We are almost halfway through October and it looks like the month will only get busier. We’ve rounded up the best financial planning articles for all of your marketing questions to make your week a bit easier in our Five Little Things series.

1. Walking the Client Demographic Tightrope via FPA

On one side, I have my baby boomer clientele who expect a high level of personalized service, one-on-one meetings, retirement planning advice and general counsel whenever it comes time to make an investment decision.

I’m comfortable working with these clients, who I’ve primarily served throughout my 28 years in financial planning. This demographic has also had a lifetime to build up investable assets and possesses a willingness and ability to compensate their adviser.

On the other side, I know I have to start catering my services to a younger clientele if I want to be in business 20 years from now. However, this demographic comes with an entirely different set of demands and expectations. For the most part, they’re less interested in face-to-face meetings, they are just starting out in their careers and possess minimal investable funds and they are quick to do their own research and make their own decisions. This is where the balancing act comes into play.

FPA Practice Management Advisor

2. The Forgotten Flash Crash and How Advisors Can Learn From It via Advicent

On October 19, 1987, the stock market plummeted in a truly unprecedented fashion. Though there was notable tumult in the markets in the months preceding the drop, few, if any, foresaw that “Black Monday” would result in a drop of nearly 22 percent in the Dow Jones Industrial Average (DJIA). For some context, the second-highest single-day decline of the DJIA was just over half of that amount. Ultimately, it would take nearly a year and a half for the DJIA to regularly stay above the opening price of Black Monday.

Advisor Clientele Demographics

3. A Letter from a Marketer to an Advisor via Kirk Lowe

Dear Frank Maselli,

Re: “A Letter from an Advisor to a Wholesaler
I loved it.
(To other financial advisors… Please read Frank’s post here before you go any further. This won’t make sense otherwise.)
To your comment: “What I need…and I’m being totally honest here…are more clients. Not many…just a handful of decent ones.
That REALLY hit home.
I’ve been sharing marketing guidance with financial advisors for 17 years and this is exactly what I’ve been preaching.

A-Letter-from-a-Marketerto-a-Financial-Advisor-1-320x260

4. Experts Get More Referrals Than Specialists via The Client Driven Practice

It’s easier to attract more clients and referrals if you have unique niche – something special to offer. Specialization makes it easier to create that unique value proposition. Does your firm have a specialist? Is there someone that everyone in the firm known for handling specific issues, strategies, or types of clients?

client driven practice

5. How Financial Advisors Can Use Social Media to Connect with Current and Prospective Clients via Advisor Advertising

It can be quite nerve-wracking to delve into the world of social media marketing, and it can be especially stressful for those who may not use social media platforms on a regular basis already. For any successful marketing plan, the first and most important step is to determine the main purpose and goals for any activity. Before even considering leveraging social media to connect with current and prospective clients for your advisory firm, you should consider:

  • What is my goal when I post online?
  • What feelings or emotions do I want to evoke in current and prospective clients when they are reading my posts?
  • When visitors view my posts, what follow-up action do I hope they will be compelled to take?
  • How do I want this post to ultimately be remembered?

Social-Media Advisor Marketing


You may also like: The Best Financial Advisor Websites: Fall 2017 Edition and Social Media Compliance for Financial Advisors.