Is It Time to Outsource Your Marketing?

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When you decided to strike out on your own as an independent financial advisor, chances are you were confident in your ability to both help clients grow and manage their wealth and to grow and manage your firm. Otherwise, you’d still be working for someone else. What you may not have realized is that just like you need administrative support to help manage operations, you also need marketing support to help foster growth.

You can grow a solid foundation for your business by relying on word-of-mouth and referrals. Still, even this tried-and-true marketing tactic has limited results when you don’t know how – or simply don’t have time – to fine-tune and focus your efforts. To expand your reach beyond your existing network, outsource your marketing.

Why outsource your marketing?

As you work to grow your client base, you’ll have to promote your business to a target audience in a way that attracts, nurtures, and converts leads. If you’re thinking of doing it yourself or handing off marketing tasks to your assistant, here’s why you want to reconsider.

Your firm’s marketing can be handled by you personally. Or it can be done by someone else on your team who has it as one of their many responsibilities, or by an individual you hire solely to handle your firm’s marketing. It can be done a professional marketing agency. In all those instances, you’ll have to train yourself or someone else on industry-specific regulations, compliance practices, and how to speak to your audience as an advisor. Does your schedule allow for that?