The “How To” of Investment Advisor Marketing

The “How To” of Investment Advisor Marketing

Everyone who’s ever been in sales knows you have to market yourself first and sell your product second. The problem for many advisors is how to do just that…market themselves and a viable product. Just so everyone knows…we’re not particularly fond of the term “product”… but sometimes there’s just no other term to use How to of investment Advisor Marketing.

It’s been fun to watch the marketing gurus of the financial services industry pop up over the past decade or so. I’m sure they’ve always been around, but the quantity seems to be growing like gangbusters.

And why not?

We’ve got FMO’s, IMO’s, B/D’s, system sellers, workshop sellers, conference sellers, software sellers.
Crap…there’s a lot of people hawking their wares out there!

So, while we’ve done a few videos covering some of this – here’s a “written” version of some of the what works and what doesn’t in our oh-so-humble opinions:

Seminar Marketing

Love it or loathe it – this method of marketing has been for many the crem de la crem. We talk below about Internet marketing which has been a huge addition for those that relied solely on semniar marketing in the past. This newest form of gathering client assets will likely overtake the seminar market in the years to come, but in the flesh seminar marketing is still the flavour du jour in financial adviser marketing. Please realize for those attempting to be a fee only advisor it’s not just the quantity of assets and or clients – but the quality. And maximum result marketing budget.

The same is true with the seminar.

Believe it or not, but there’s actually marketing hawkers out that have fooled the bulk of our industry in believing response rates, size, and booking appointments on the spot matter???? Insanity!

Listen up: All that matters from seminar marketing is how much assets are raised from how few of clients. Yeah  you should want lots of assets and very few clients. This is NOT rocket science.

Remember one fundemental truth that escapes so many, the quality of people in the seats is by far more rewarding than the quantity or trying to fill up the room. The ideal client for a RIA firm is someone that has significant assets and wants an advisor that is different. This may be hard to believe, but being fee based is a start. Having something worthwhile to offer prospects is nice too. Once the path of least resistance is learned, it’s not all too tough. Advise Marketing.