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Last month, USA Today reported that many American are nervous – even ashamed – about discussing their finances with an advisor. People worry about being negatively judged by advisors for not having enough money, having too much money or being behind on planning – in short, for not being more knowledgeable about financial planning. USA Today dubbed the trend financial advisor anxiety – and it could be affecting your ability to get clients in the door.
How can you market successfully to prospective clients who envision a meeting with you to be as much fun as a trip to the dentist? Remember that good marketing should make people enthusiastic about engaging with you – after all, you’re there to help. Remove the fear factor with strategies that educate and empower.
Here’s how to help prospective clients educate themselves before walking into a meeting with you.
Educate prospective clients
Financial health is a deeply personal topic, so it’s no wonder that people – whether they have high net worth or are just starting to save – feel self-conscious about how much they don’t know. The best thing you can do? Remove some of the mystery surrounding financial planning and investing.
There are several ways to do this:
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Offer downloadable resources. Offering free, downloadable resources on your website – such as informative white papers, interactive quizzes or infographics explaining different retirement-account options – can help clients feel prepared for a discussion about financial planning. Some advisors even offer an online glossary of financial terms, empowering clients to learn or brush up on lingo prior to their appointment.
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Share multimedia. By posting links to podcasts and brief videos, you can help prospective clients understand financial topics in an accessible way. The internet is an image-driven medium, and its users are accustomed to visual and audio communication. Graphics can keep viewers entertained and engaged, and audio and video can help establish a personal connection.
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Write a weekly or monthly blog post. Allow prospective clients to sign up for regular blog posts written by you or members of your staff. Not only will this keep you at the top of their minds, but blogs can also be a “short and sweet” way to address timely financial topics – and help prospective clients dip a toe in the financial-planning waters.
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Repost valuable content. You may already know the social media rule of thumb that states that 80% of the content you post should be original and 20% should be reposted from other sources. Still, sharing valuable articles and tools you come across helps establish you as an informational resource, making clients more likely to consult – and trust – you.
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Be up-front about fees. If clients don’t understand how, or how much, you’re getting paid, they’ll probably be reluctant to do business with you – especially given the prevalence of tabloid stories about people being duped by fraudulent financial-planning schemes. Share clear information about your fee or commission structure on your website to calm clients’ nerves.
When people are new to the investing world, terms like “ETFs,” “large-cap mutual funds” and “portfolio diversification” can be intimidating – and make them tune out quickly. Empower prospective clients with education before they walk into a room with you, and they’ll feel much more confident about opening up.
Sarah Scorgie is a copywriter at Wealth Management Marketing,
Inc., a firm that provides outsourced marketing department services to Registered Investment Advisors and fee-only financial planning firms. For more information, visit www.wealthmanagementmarketing.net.
Read more articles by Sarah Scorgie
