Lead Generation Tips for Financial Advisors

Developing your client base is vital for growing your business, but as the world changes, so must your strategies for lead generation. There are plenty of tried and tested marketing tactics for bringing in leads, but are they suitable for financial advisors, and, more specifically, will they work for your advisory business?

The right lead generation strategy for you must be tailored to your firm and your audience. It’s important you don’t assume that every tactic is right for the financial services industry, or for your business. High-value clients looking for an advisor are going to be responsive to some strategies that retail customers might not be, and vice versa. 

Below, we’ve compiled four top tips for attracting prospects in your target audience and moving them closer to becoming valued customers.

1. Use Your Website to its Best Advantage

We all know that these days a website is a necessity, even when your client base is local. People generally turn to the search engines first when they’re looking for services. In fact, according to an eMoney Consumer Marketing Survey, 42% of consumers go to search engines like Google when they start looking for an advisor.

Your website is key to being found by your prospects, but once you’ve achieved that first hurdle – a potential client has found you – how do you turn a visitor into a lead? You need to keep them on your website, and you can do that with an attractive, user-friendly design and relevant content.

And don’t forget that all-so-important call to action. Many advisors use a simple “get in touch,” but for best results, prospects need to see something compelling and specific. What do you want them to do? Book an appointment and find out how your team can help them manage and grow their wealth? Speak to you and complete free wealth planning needs assessment? Create your CTA around those specifics!

2. Develop Your Content Marketing Skills

63% of consumers say informative, educational content makes advisors stand out from the crowd, so it’s crucial to make sure your content positions you as an expert in the wealth management arena. Content is still king, there’s no doubt about it, but today’s savvy clients can tell the difference between relevant, high-quality content and content written for SEO..

Whether it’s blog posts, infographics, eBooks, videos, or anything else, regularly publishing content that offers solutions to your prospects’ problems will give them an idea of how working with you will benefit them. The result? They’re more likely to consider you whether they’re looking for an advisor now or in the future.  

You can also generate leads directly through various types of content. Once prospects sign up for your newsletter, for example, or share their details in exchange for gated content such as guides or eBooks, you can start marketing directly to them.

3. Be Present on Social Media

No longer just the domain of specific market segments or industries, social media has become a must for financial advisors. Whatever generation your target audience is, they’ll be on their preferred social media platform(s).

According to a Putnam Investments Social Advisor Study, 87% of advisors with AUM over $100 million have grown their audience using social media. And there are even more benefits to using social media to generate leads – the same study says that 83% of advisors have found social media shortens the time it takes to convert prospects to clients.

Depending on the platform, you can share knowledge and information on wealth planning, general finance tips, industry news, and even answer audience questions. The most important rule for lead generation using social media is keeping your audience engaged.

4. Relationships, Relationships, Relationships

The number one driver of growth is still relationships. Building strong, trusted relationships with your clients, offering them value and spending time connecting with them opens up opportunities for referrals, which convert at much higher rates than most other marketing tactics.

31.9% of consumers would start their search for a financial advisor by asking for recommendations from friends or family (add that to the 42% who start with search engines and you’ve got the majority covered with these tips!).

The key is to have the bandwidth to build those relationships and make genuine connections. Too often, advisors can get caught up in the day-to-day, back-office duties and neglect that important relationship-building aspect of their business.

With CGAN, not only will you have access to robust business consulting and coaching services, but you’ll have a wide range of tools that help to minimize operational burdens and free up the bandwidth you need to grow your business.



2020 eMoney Consumer Marketing Survey Results: Financial Professionals Must Adapt Their Prospecting to the New Reality – eMoney Advisor. (n.d.). https://emoneyadvisor.com/blog/2020-emoney-consumer-marketing-survey-results-financial-professionals-must-adapt-their-prospecting-to-the-new-reality/

Five key findings from Putnam’s Social Advisor Survey. (n.d.). Putnam Investments. https://www.putnam.com/individual/content/advisorTechTips/3037-five-key-findings-from-putnams-social-advisor-survey

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