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I cannot think of a bigger waste of money than advisor marketing brochures. They stink. Here’s how to create collateral that the recipient will actually read.
Why advisor brochures stink
You advisors are killing me with your marketing brochures. Let me guess; I haven’t see yours, but it probably goes something like this:
- Our story – our firm was founded by some person 20 years ago who decided he/she wanted to save the world.
- Our values – we have integrity and always put the client first. Aren’t we sweet?
- About us – our principals have a combined experience of 2,000 years. Insert pictures of everyone sitting beaming in their Hugo Boss suits.
- Our services – we offer comprehensive financial planning and a variety of other advisor cliché terms that mean nothing to the client because they are so vague
- Insert a few cheesy stock photos of the retired couple drinking wine on the beach or on a boat. Probably the same ones on your website.
This brochure stinks.
Why?
Because it’s 100% about you and 0% about them. Where does the client come in – did I not get the memo? Remember those awful first dates when the person on the opposite side of the table won’t stop blathering about him/herself without letting you get a word in edgewise?
It is literally the same effect.
Consider that the advisor shells out a minimum of $2,000 to design one of these things, not to mention the cost of printing and mailing them. Honestly I would rather see you take the money and go to Las Vegas because at least then there is shot of doing some good for yourself. You may as well take the money and throw it in the trash pail because that is exactly where these things go within three hours of the client receiving them.
The new advisor brochure
Try this instead.
Them not you
Instead of “about us,” talk about the client. Who do you serve? (hint: affluent individuals and families is not a response); Why are you particularly adept at meeting their needs? (hint: because I’m a fiduciary, because I’m passionate, because I’m extremely customer focused are not responses).
Example: Although we work with retirees across the spectrum here in Minnesota City, we have a special focus on serving women who have recently lost a spouse. This expertise stems from our specialized knowledge of estate and tax issues affecting this population. We also have a close partnership with two estate attorneys and a trauma counselor with whom we regularly consult on behalf of our clients.
Can the cheesy pics
Instead of cheesy stock pictures, use real life photos of you working with clients (if you don’t want people to know who your clients are, ask a friend to pose as one).
Talk about fees in a real way
Instead of the cliché line about how you’re a fiduciary (that everyone says, by the way, even the people who are “part time fiduciaries”) try explaining how you are compensated in plain terms. This is a constant source of confusion for the public at large. Get it straight right away.
You don’t necessarily have to state the amount of fees but make it clear what kind of a firm you are and how you are compensated.
Example: As we are both a registered investment advisor firm with the state of Minnesota and registered representatives under FINRA, we may be compensated either by fees calculated as a percentage of assets under management or by commission for the recommendations we make on your portfolio.
Clients will appreciate you for not beating around the bush which is something most advisors do when it comes to how they get compensated!
Clients love…
Amazon does a great job getting you to buy more stuff. After I buy a baby stroller, all of a sudden they’re flashing this banner about how people who bought that stroller also bought the rain cover to go with it, the baby car seat that attaches into the stroller, the crib by the same manufacturer, etc. I cannot help but pay attention to it.
As they say, curiosity killed the cat.
Human beings are naturally curious about the experience that other buyers have. Talk about some service examples that you gather directly from your clients’ own words, not that you assume they appreciated.
Example: When one of our clients’ husbands passed away suddenly, she found herself confronted with a myriad of insurance questions related to a complicated policy she held. We worked directly with her agent to resolve them, get her paid out, and avoid the policy lapsing, all within three days of her contacting us.
Now doesn’t that sound more authentic than just saying some story about how “we meet your needs”? Give the reader a glimpse into what their life will actually look like with you. Show them something that they can relate to.
Sara’s upshot
Talk about what really matters to people instead of making it an unwelcome talent show performance about yourself.
Email me your brochure if you want my feedback on it.
Sara Grillo, CFA, is a top financial writer with a focus on marketing and branding for investment management, financial planning, and RIA firms. Prior to launching her own firm, she was a financial advisor and worked at Lehman Brothers. Sara graduated from Harvard with a degree in English literature and has an MBA from NYU Stern in quantitative finance.
Read more articles by Sara Grillo
I cannot think of a bigger waste of money than advisor marketing brochures. They stink. Here’s how to create collateral that the recipient will actually read.
