Financial Advisors: Are you playing it too safe with your marketing?


I am writing this quick blog post because I had an interesting call this morning. I usually don’t pick up the phone if I don’t recognize the phone number and I’m waiting for a client to call me. This time however, it was right at the top of the hour so I thought it must be a client and we got our times mixed up.

The advisor on the other end of the phone was cheery and polite and wanted to ask me a few questions about growing his practice. Being an independent advisor with Commonwealth and with a pretty good client base, he told me he was stuck in his thinking.

An aging practice

Over the life of his practice, he had never really done much in the way of marketing and now in his early 50’s he realized that his client base was aging, passing away, and assets were going out the door to the children.

I told him that overcoming the asset reduction challenge is an issue to address, but he wanted to talk about marketing.

Common marketing challenges

Deciding upon a new Marketing Plan is a common issue with advisors because many simply have relied on unsolicited referrals from clients to grow their practice over the years. Sometimes I find that advisors hold client appreciation events (but do nothing to leverage them). Other times I find that in the past, seminars were used as a marketing draw.

The new era of marketing

These days, however, most advisors need to come into the 21st century with their marketing. There are automated ways of attracting clients that are not as expensive and time consuming as seminars. Advisors simply don’t know what they should do.

Are you playing it too safe with your marketing?

Are you in your 50’s, your clients are getting older, you’re not getting many younger clients, and your assets are slowing decreasing? Then it’s time to get out of your comfort zone and put together a new Marketing Plan!

Thank goodness I can help. Contact me to schedule a consultation!


About Suzanne Muusers