Financial Advisors Working With Technology Professionals

Financial advisors who work with Technology people

Financial Advisors Working With Technology Professionals. Technology is constantly advancing. It seems like every time I purchase a new smartphone or TV, there is a brand-new model out in the market a couple of days later with tons of bells and whistles that I’ve never heard of before.

There is this unique thing in the tech world called Moore’s Law. It means that the number of transistors on a microchip doubles about every two years with a minimal cost increase. Whether or not that is accurate today isn’t the point. The fact is, tech moves so quickly that a massive volume of cash, assets, and future prospects in this industry is perfect for your financial advising business.

To continue with my Ideal Client Series, I’d like to offer advice on why you should target this highly lucrative niche audience and the best methods for reaching where they live the most.

As always, be sure to read up on my other services around business coachingfinance career coaching, and leadership coaching. This is just a tiny marketing plug before we jump into this eye-opening edition so you can grow your financial advising firm.

Why You Should Target Technology Industry Professionals

Over 9.1 million people work in tech jobs. That covers everything from IT support to starting the next Apple, Google, or TikTok. As a financial advisor, you probably already know computer programmers and IT staff are considered today’s “blue-collar” workers because so much of our country’s infrastructure contains modern technology.

With so much demand for these highly valued workers and innovators, it only makes sense to invest some time and effort into securing them as clients for your firm. Here are some of the reasons why I think technology professionals make ideal financial advising clients.

1 – Technology Professionals are Affluent

The starting salary for most technology professionals with a degree or some combination of certifications (i.e., self-taught) can range anywhere from $65,000 all the way up to $250,000. To put it mildly, this niche market makes a lot of money in their career.

As more and more governments, businesses, and organizations need tech workers, the future prospects for technology professionals is only growing. The result is a high starting salary point with exponential growth potential.

2 – They Have Unique Needs

It is always easier to market to a niche financial advising client than the general population. When you can narrow in on those unique pain points of the clients you want the most, you can better address the value proposition you bring to the table.

Most technology professionals will seek a quality family life, a stable living situation, and decent savings. However, they do it using a wave of benefits, stock options, and high-value projects rather than a typical 9-5. Their unique working model is what separates them from the rest of the crowd.

3 – Early Wealth Accumulation

Not only do technology industry professionals make a large sum in their starting salary, but they make it at a much younger age than in other careers. You could easily be contacted by a 22-year-old fresh out of college earning a six-figure salary due to their incredible skills with specific programming languages.

This is where your experience as a financial advisor comes into play. You can build financial vehicles from an incredibly early starting point, almost ensuring their success with little to no effort or risk.

4 – High Growth Potential

The tech sector is a rapid growth entity. It always has potential for professionals through windfalls, IPOs, acquisitions, or equity appreciation. Using your talents, you can expand on this potential growth by helping clients navigate through the financial boon periods they experience.

5 – Open to Innovative Investment Opportunities

While there certainly are some technology industry professionals looking for a “normal” financial advisor who will present a steady growth projection through low to mid risk vehicles, that is not always the case.

The very nature of the tech world is constant change and evolution. This philosophy is hard-wired into your prospective clients. They will be more open to innovative investment opportunities you may not be able to present to other clients.

6 – Involved in a Dynamic Career Path

A “must-have” for your business as a financial advisor is to accommodate the ebb and flow of the technology sector. You could have a client with all the skills in the world, and they are still likely to work on a project basis instead of a guaranteed long-term contract.

For example, you may have someone specializing in integrating NLP (natural language processing) into a new mobile application for an upcoming video game. They work on that project for a year, maybe two, and then have to search for a new project.

That diversity and dynamic atmosphere to their career is something you will 100% have to consider when working together.

7 – Have Global Mobility

Even before the global pandemic shifted how we work at offices, technology sector professionals had high mobility. They can complete their job roles from anywhere in the world.

I love hearing about financial advisors with clients everywhere, from Bali to Salt Lake City. That flexibility and awareness of time zones are crucial to your success as a financial advisor targeting these ideal clients.

8 – Open to Sophisticated Risk Management

Technology workers are not passive. They understand the volatility of risk management in their roles in IT and will apply those same measurements to stock performance, job security, and future growth.

You’ll need to take a sophisticated risk management approach tailored to the client’s needs, career, and investment profile.

9 – Love Lifestyle Planning

Even if most of your technology industry professional clients began in their role as a “fallback” from another pursuit, they would still appreciate a certain lifestyle. With a high income potential comes a certain level of comfort and idealism toward a secure future.

When you work with these individuals, you’ll need to lean into that lifestyle planning. They can see twenty to thirty years down the line because they understand how quickly things can change.

How to Target Technology Industry Professionals

Now that we’ve looked closely at the “why” behind growing your financial advisory with technology industry professionals let’s look closer at the “how.” As always, you’ll want to develop a marketing or outreach strategy based on your firm’s branding and unique attributes, but here are some of the pathways I’ve found to be the most successful.

Social Media

Technology workers love social media. That is where they learn about new projects, gadgets, and innovations coming down the line. However, LinkedIn is still their bread and butter. Due to the volatility of their job and project market, many of these professionals work and play on LinkedIn more than anything else.

Host Online Financial Workshops

A tech worker knows developing skills brings great rewards. When they are interested in learning more about financial planning or goal setting, they will look for what is available online. If you meet this need with even a “basic budgeting” or “introduction to investing” webinar, you can capture many new leads.

Create Tech-Focused Content

You may be a financial advisor, but go ahead and talk about the latest news on Elon Musk or how Google is transforming the world of AI using Bard. Get into those topics that attract your specific niche market and watch as the contact emails and phone calls start rolling in.

Attend Industry Events and Conferences

Want insights into the technology sector? Host a booth or attend a hackathon, DefCon, or an Apple announcement. You’ll begin to learn more about how these workers live, work, and apply. Exposure to that culture will teach you how to best reach them and target their unique needs.

Utilize the Latest Technology

Want to impress a technology industry professional? Start by using the latest tools in your financial advising practice. Leverage AI (artificial intelligence), ML (machine learning), and other innovative enhancements in your workflows to capture leads, conduct business, and grow investments.

Partner with Tech Companies

It is amazing how many tech companies exist. Doing something as simple as working your way down the NASDAQ and offering a “free” consultation to specific business workers in the tech world through their company will boost your practice. Reach out to the HR team and offer something only to their tech company, and you should get some quality bites.

Use Flexible Communication

As I already mentioned, many technology workers have varying hours due to their work-from-home lifestyle or international availability. You’ll need to adopt unique communication systems like Zoom or Google Meets to accommodate their needs. That flexibility is crucial to your success as a financial advisor.

Final Thoughts

I love technology industry professionals. They have plenty of disposable income, don’t mind a little risk here and there, and think about the long-term potential of their cash flow.

Do your best to target the unique pain points of this niche market, and you can quickly grow a thriving financial advisory practice.

Be sure to use a combination of the marketing methods I’ve outlined in this post, and you’ll have a vital lifeblood of leads to work with as you grow. Good luck, and happy hunting!

About Suzanne Muusers