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Content Marketing Tips for Wealth Management Firms

·6 min read
Female financial advisor and client
Female financial advisor and client

Connecting with prospective clients in the digital age means having a strong online presence. That includes being visible on social media, maintaining a professional website and creating engaging content. If you have yet to formulate a wealth management content marketing strategy, you could be missing out on valuable opportunities to grow your audience and expand your client base.

Why Content Marketing Matters for Financial Advisors

You never get a second chance to make a good first impression. And good content marketing factors heavily in the equation.

“Content marketing is extremely important for wealth management firms because not only do third-party pieces legitimate one’s practice and provide brand awareness, but they also answer prospective clients’ core questions about a firm,” says David Wright, executive director of practice development at M&O Marketing in Southfield, Michigan.

Wright says that wealth management content marketing offers an opportunity to communicate your expertise and core values to potential clients without directly selling to them. And it’s also important for remaining competitive in the advisory landscape.

“Staying in front of clients and prospects with good content will always be a golden rule for wealth management firms,” says Dan Biagini, chief distribution officer at Foundations Investment Advisors.

This can help you avoid falling into the “out of sight, out of mind” trap. By providing a steady stream of consistent, relevant content, advisors can maintain informative, long-term relationships, says Biagini.

Creating a Wealth Management Content Marketing Strategy

Developing a content marketing plan starts with understanding what your clients or prospects need. This can help you be more efficient in meeting those needs with your content so that you’re not wasting time throwing things at the wall to see what sticks.

These tips can help you come up with a strategy for successful content marketing.

1. Create content with a purpose

“You shouldn’t create content just for the sake of having content,” says Wright. “Good content marketing is something that your reader will find to be valuable or usable in their buying experience.”

For example, say your target niche is pre-retirees who are in the five- to 10-year window leading up to retirement. They may be interested in learning how to create a realistic plan for drawing down assets or how to protect their accumulated wealth with annuities or long-term care insurance. Writing content about how to invest in aggressive growth funds would be a wasted effort, as that doesn’t speak to your target audience’s needs.

Before you begin creating a new piece of content, ask yourself what need it meets for your current clients or new clients that you’re trying to attract. If you can’t readily identify the value it holds for them, you may need to rethink the topic

2. Be timely

Stylish African-American female financial advisor
Stylish African-American female financial advisor

Good content marketing for wealth management firms considers the things investors may be most concerned about in the long-term, but it doesn’t ignore what’s happening right now. Regular commentary on what’s happening in the markets and current administration remains a hot topic of discussion, says Biagini. “Investors want to know how their investments can be affected by what’s happening in the news,” he says.

As inflation rises, for example, investors may worry about how it will impact purchasing power or their ability to retire. Creating content that addresses these fears or concerns can help you remain relevant to your audience while meeting their immediate need for answers.

Timeliness can also matter in a different context. As your clients undergo various life changes, such as starting a family, changing jobs, preparing to send kids to college or nearing retirement, you can get ahead of the curve with your content marketing plan.

“Making sure to push out regular content on each life change can pay dividends with clients who see it as a call to action,” says Biagini.

3. Choose the right format

How you deliver content to clients or prospects is just as important as what you deliver. Changing up the format can make content more digestible so that it’s better received. This can lead to higher engagement and potentially more sales for you.

“With more complex, hard-to-understand topics like financial planning, long-form content can help better educate your reader or potential customer,” says Wright.

For example, you might draft a white paper or a detailed brochure to explain a key aspect of estate planning or investing. This is something comprehensive that can be used as a springboard to a one-on-one conversation with a client about the topic.

On the other hand, sticking with short, easy-to-consume bites of content can work better on social channels for encouraging engagement, says Wright. Doing some A/B testing with different format types can help you determine which type of content your audience is most responsive to.

4. Automate it and be consistent

As an advisor, your time is valuable, and it’s important to make the most of it. For instance, automating lead generation using a service like SmartAdvisor can save time. You can do the same by automating your content marketing.

This can involve outsourcing your content marketing efforts to a third-party marketing firm. There is a cost involved, but it may be worth the return on investment if you’re able to grow your reach through content marketing.

If you’d rather write the content yourself, you can use scheduling tools to publish content regularly. Being consistent is key, says Biagini. “The worst thing an advisor can do is send out good content for a few weeks or months, then shut it down,” he says.

5. Personalize content marketing

Clients and prospects want to feel important. So remember to keep the personal touch when developing your wealth management content marketing plan.

This can be as simple as mentioning something you did over the weekend when sending out your weekly email blast or leading in by asking a question. You want to get a client or prospect’s attention and make a connection quickly so the person has a reason to keep reading.

“This will ensure clients continue to show up and listen to what you have to say,” says Biagini.

The Bottom Line

Asian female financial advisor with client
Asian female financial advisor with client

Wealth management content marketing is not an exact science; there’s a certain amount of trial and error that goes into getting it right. By taking time to learn what your clients or prospects need and how they prefer information to be shared, you can create a content marketing plan that can help you further your growth goals.

Tips for Sourcing Clients

  • Let leads come to you. If you don’t have time to look for clients, lead generation services can send them right to you. With SmartAdvisor, for example, you can get leads that fit your target client profile delivered to your inbox.

  • Ask for referrals. Sometimes landing a new client can be as simple as asking your existing clients for a referral. This is something you can do through your content marketing via social media posts or email marketing.

  • Expand your search. More investors are searching for financial advisors online these days. Rather than limiting your search for leads to your local geographic area, consider how you can widen your search to connect with clients who may be turning to digital channels to find financial professionals.

Photo credit: ©iStock.com/kate_sept2004, ©iStock.com/LightFieldStudios, ©iStock.com/DragonImages

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