Digital Marketing Best Practices for Financial Advisors

Key Point Summary

  • Our day-to-day lives are now unimaginable without the internet. It is the connection point for billions of people globally. Financial advisors should learn to embrace digital marketing strategies to stay relevant.
  • Your digital marketing efforts need to align with what you’re trying to accomplish as a financial advisor. There are many strategic pathways you may wander down upon your marketing journey, with some leading to nothing but dead ends. Whether it be content marketing, search engine marketing, SEO, social media marketing, or retargeting – the effectiveness of these chosen pathways depends on your desired outcome.
  • Throwing money at social media ads isn’t a strategy… far from it! Your digital presence will only grow and provide you with ideal clients if you follow a process to build awareness, find ways to get your audience to consider you through engagement and prompt them to decide to become your client.
  • Without a strategy and a proper process, digital marketing can be much like the Wild West – an aspect of your business that you will not likely see the return on investment you seek.

Digital marketing, online presence, internet advertising – whatever you call it, marketing yourself and your business online is a big deal in the present age. After all, internet usage had more than doubled over the past decade even before the pandemic-fuelled digitalization of the world went into hyperdrive.

Our day-to-day lives are now unimaginable without the internet. It is the connection point between billions of people globally and a core pillar of the modern information society. This shift to the virtual space has massively affected how people procure services and interact with businesses. Financial advisors should turn to digital marketing strategies to beef up their existing marketing efforts, not as a “nice to have”, but as a “must-have” that is core to their business.

Have you adapted to digital yet? Whether you’re still stuck in the dark ages, or simply need the inside scoop on the online marketing of financial services, you’ve come to the right place.

What Is Digital Marketing?

At its core Marketing is about connecting with your audience in the right space and at the right time to make an impression on them. Today, that means needing to meet them on their own turf, where they spend the majority of their time – the internet. So, digital marketing is any form of marketing that exists online and facilitates the same exchange of information between a business and their audience.

The Process Of Defining One’s Ideal Client

If you don’t have a very tailored picture of your ideal client yet, it’s something you’ll need to figure out. Not knowing WHO to market your services to renders the rest of your strategy useless. You are essentially a ship without a rudder, lost in a digital swamp, that could be taxing not only on your time but on your wallet too. Don’t spend a dollar (Rand, Pound, Euro, etc) on digital marketing if you haven’t identified your ideal client yet.

So how does one define one’s ideal client? Start with you. Who are you? What are your hopes, dreams, goals, passions, hobbies, interests, philosophies, etc? Your ideal client will be a reflection of you. Combine this with evaluating which clients are currently your favorite and why. Explore whether you have a group of unified clients by a common characteristic; for instance, they work for the same company, within the same industry, or possess a particular investment need. These groups who share values, goals, traits, or behaviors and the clients who you genuinely enjoy serving would be your potential Ideal Client Types.

Next, you will need to identify the known and possibly unknown needs of your ideal client type. They will have specific concerns and requirements that are known and can be articulated. What are they? There could also be unknown needs that are harder to communicate but are no less real. Match a solution to their needs.

The main reason a prospective client will choose to work with you is that they trust you. This trust is based upon shared values and a common understanding of each other. Once this is established than their belief in your services and the value of your solutions will become very important.

First, you must attract people to your tribe and build trust with them, then the solutions you can provide for their needs and concerns – known and unknown – of your ideal client types will become very important. This can all be done via digital marketing.

Most ideal client types will have pre-established relationships with other trusted advisors such as attorneys and accountants. Identifying these other trusted advisors and centers of influence associated with your prospective clients can not only connect you with other valued professionals but enable you to form a wealth management network that can best serve your ideal client type.

Given the unique characteristics of your ideal client types and their particular needs, they will respond to specific marketing messages and campaigns, ones that show you KNOW THEM and SPEAK THEIR LANGUAGE. You will need to create marketing messages and campaigns for each ideal client type and broadcast these to connect with your ideal clients.

Social Media and Email Marketing Best Practices

Social media marketing for financial advisors requires a healthy dose of strategy and creativity. With the power to grow your brand awareness exponentially, social media makes it easy to spread the word about your mission, morals, and journey as an advisor. Not utilizing the social mediums at your disposal represents a missed opportunity to increase traffic to your website and promote your services to potential ideal clients.

Email marketing is still well and truly alive despite rumours of its gradual loss of relevance each year. It’s estimated there will be 4.1 billion email users by the end of 2021 — yes, that’s billion with a “B.”

Audience Targeting

Defining the audience is the first step before embarking on any successful campaign planning. We also need to establish where in the sales funnel your target currently finds themselves. What is the goal – to acquire ideal clients, retain your current clients or win back former clients?

The message you send out will be most effective when adapted to different targeted audiences. Segmenting your audience makes a world of difference. It makes your message more pertinent and specific to those to whom you are marketing.

Using Accurate Data

A successful data-driven campaign is only as good as the accuracy and integrity of the data allows it to be. In a single year, between 20-30% of email addresses diminish in usage. Cleansing data of errors or adding other relevant information, such as a physical address, phone numbers, or social handles, can help make data more precisely targeted and, ultimately, more responsive.

Omnichannel Marketing

Get your message out to your target audience on a variety of platforms. Use social media pages and email campaigns that lead to content, such as landing pages or fill forms to download case studies or ebooks.

The modern marketplace has diversified, and it is now rare for a customer to adopt your services after interacting with you or your business through just one channel. On average, clients communicate with a brand through four touch points during the acquisition process. Lead generation for financial advisors has changed, and omnichannel marketing by design addresses these modern customer trends – giving them a consistent experience from start to finish.

(Relevant) Content is King!

No matter which channel you use to distribute your content, make sure it is relevant to the target audience, compelling, easy to read, credible, and accurate. Content creation such as email campaigns, website landing pages, blog posts, webinars, and eBooks can all help your social endeavors. Be original – of all the financial advisor marketing strategies this one is probably the most important. Original content makes you look good online and having higher credibility usually leads to more business and better clients.

Don’t outsource your content at all in the early stages, do it all yourself. Yes, this will take time and effort but you will get better at it and it will get easier and faster to produce. Doing it yourself will also help you refine your voice online. Remember, people, connect with other people. Let your genuine voice attract people and help them get to know you. Eventually you can start to outsource a lot of your digital marketing tasks, but content should always be driven by you with your final edit and approval for before it goes live.

A published eMarketer research report from June 2020 cited that the average adult in the U.S. was spending an additional 23 minutes per day on their smartphones, which they attributed to the pandemic. So, we know where your clients are; they’re online. It only makes sense (and dollars) to pursue consumers where they spend their time.

Measuring Performance Using Analytics

Data analysis allows you to see which platforms were successful in getting the targeted message across to consumers, which allows you to focus your efforts on proven strategies rather than a shot in the dark. Successful data-driven digital marketing campaigns can bring compelling creatives with precisely the right audience and result in the perfect trifecta: An increase in sales, as well as ROI; and increased brand awareness.

For example, I can track down to the penny what it costs me to get people to engage with my content and furthermore know exactly what it costs to get people to download an eBook of mine, etc. Once we know these things, we can scale our digital marketing efforts quickly, only being restricted by our budget and bandwidth in working with new clients. By the way, running a virtual or semi-virtual practice means you can drastically reduce your overhead from things that are not revenue producing and reallocate some of it into digital marketing to grow that much faster.

SEO

Search Engine Optimization (SEO) is now an integral sphere of digital marketing for financial advisors. The position of your financial advisory services on search engine result pages (SERPs) has the potential to be the difference between your company’s failure to grow or unlocking a steady stream of new clients.

Part of thriving online is an SEO strategy that is essential to helping you reach the first page of the SERPs, ideally ranking at the summit of this page. Keep in mind there are approximately 70,000 searches conducted on Google every single second. Yes, you heard me right, that’s every single second!

The first five links listed on the SERPs dominate the traffic receiving more than two-thirds of all clicks. Furthermore, 91% of those browsing the web do not click through to the second page of the search results. The goal as a financial advisor is to have your firm appear on the initial page, with an emphasis on the first five listings.

There are a lot of technical components to strong SEO and it’s a moving target so trying to do this yourself, other than some very basic tactics will be an exercise in futility. For example, I teach advisors how to set up a variety of SEO components with their websites and how to structure a blog post in my Virtual Advisor System, but the ongoing management of these really should be done by experts that do it full time. Hiring a digital marketing team, even for just a couple of hours a month can help ensure you are staying on top of your SEO game.

Content Marketing

I like to think of content as the rocket ship of good marketing, promotion being propulsion to that rocket. Without promotion, your content is going nowhere. Amazingly written articles and blog posts don’t count for a lot if your audience isn’t reading them. You need to be actively promoting your blog content using organic channels.

You can have the best cheeseburger in town but if no one knows about it does it really exist?

Search Engine Marketing

Search Engine Marketing (SEM) is one of the best marketing channels to generate web traffic. It compliments SEO and content marketing and gets your brand to the very top of Google, and other major search engine players, if you play your SEM cards right.

SEM can be a conversion driver for marketing campaigns of all types. This is due to paid ads often linking to conversion-focused landing pages or sales pages that move web traffic through the sales funnel. Paid ads rather than organic results typically link to landing pages. As such, SEO can support brand awareness and top-of-funnel activity, while paid ads can focus on a specific goal and end-of-funnel conversions.

While SEM is considered a bottom-funnel marketing channel, it can also tremendously boost top-of-mind brand awareness. According to a Google case study, search ads can increase brand awareness by 80%.

Remarketing

Remarketing forms part of the final phase of the funnel, which is all about client acquisition. Once you have someone who has already decided they know, like, and trust you enough to do business with you then retargeting becomes a very effective strategy to get them to hire you.

Familiarity and awareness are key ingredients to this strategy. If someone hasn’t already engaged with you, they’re probably not going to do business with you just because you have decided to broadcast a digital advertisement. In the context of social media channels, this could mean running paid ads to put your offering in front of those people who already follow you on LinkedIn or Facebook. This is how to get clients as a financial advisor in a digitally social world.

Client Journey Funnel

Life is a journey, and so is the marketing of financial services. Let’s look at the client’s journey – the path a potential client wanders from being a target audience to awareness, consideration, and making a decision. Much like any other venture, a sales funnel has a conclusion – a final conversion. This can’t take place until your target audience has been converted through each stage. What are the conversion goals in the three main stages of every prospect’s journey?

1). It all starts with awareness which is the first stage of the customer journey. During this stage, clients realize their problems and try to define their pain points. This is when they discover you and your services – while searching for solutions to their pain points. It then becomes vital to provide your targeted audience with more information about your firm and services in a calm and educational way.

Lay down the sales pitch approach, no pitch-slapping here! It’s dated and insincere. The less promotional your content is, the better – the person is not loyal to your brand yet, so it’s easy to scare off a potential client by being pushy. This stage should rely heavily on shareable, optimized, educational content that helps your potential customer not sells to them.

2). Consideration is the second stage of the buyer’s journey and the step at which your prospective client is a little more familiar with you and your services. They begin evaluating their problem, its urgency, how it can be solved, and whether it really needs to be solved now. Your goal here is to show them how their problem can be solved, how beneficial it will be for them and how you and your services can bring them financial peace of mind. Also, don’t be afraid to show them how superior you are to your competitors; if there’s ever a time to flex, it’s now! At the consideration stage, 60% of potential clients want to get in touch; make sure you have the answers to their questions and know how to soothe their pain points. Use the content in the form of free webinars, case studies, eBooks, sample financial plans, etc. to convert people from consideration to the decision stage of the buyer’s journey.

3). The final stage is where a decision is made – also known as the conversion stage of the buyer’s journey. Here your potential customer makes a research-based decision on you and your services. The goal is to help them make a favorable decision and finally become your client. That’s when the conversion takes place. By this stage, a target individual has become loyal to you, and you should use this to educate less and promote more – this is your time to shine. As financial advisors, the content you should be using to encourage conversions is expert advice along with cost estimates of your services.

client journey funnel-

The Client Acquisition Process

The lifeblood of all traditional and virtual financial advisors is growth in the number and net worth of ideal clients they serve. Often advisors have blinders on, being so focused on these goals that they pay little attention to the actual process, time, and costs involved in acquiring new clients.

They know they need more clients but with blinders on, they tend to go the quick route of prospecting like a pirate with a cold spray-and-pray approach. Not only is this not scalable, but it is also life-sucking.

Two concepts that advisors should pay close attention to are: client acquisition cost and client acquisition time. The first measures an advisor’s acquisition costs associated with converting or winning a new client over, while the second measures the time frame of a lead to become a new client. Both are essential to keep an eye on when building and running an efficient advisory practice.

The key to these metrics is proper tracking, and the key to proper tracking is a great customer relationship management system. The primary function of a great CRM system is to obtain accurate data. See how this is coming full circle, as we incorporate the same principles here as we did in our social media and email marketing best practices? Successful advisors should leverage the power of their CRM system, creating useful pipeline reports and analyzing the information they provide to understand and track cost and time metrics. By doing so, you are adding some science to the art of client acquisition!

CRMs can and do take many forms so whichever you use you will want to be able to track things like how often potential clients are opening and reading your emails, downloading eBooks, interacting with your content, what channels they are coming in from, and so on. A good CRM will let you track all of this as well as help you automate your marketing, especially when it comes to email campaigns.

The Digital Marketing for Financial Advisors Kitchen Sink

Yes, I just threw the kitchen sink at you! There are a ton of nuggets in here that you can use today, without the help of anyone else.

Take this overview of the tools available to you to build a marketing arsenal of your own. Find what works for both you and the clients you wish to attract. After all, your ideal client’s preference and needs will differ from those of other advisors and, as such, should be approached uniquely. Once you find practices suitable for your target audience, follow the process of acquiring them as a client by unleashing your inner digital guru to conquer the ever-changing advisory space.

Test, learn, test more, learn, keep going.

If all this seems overwhelming to you, well it is! There is a lot here. Digital Marketing is an art & science. You can learn the basics quickly and even do some of it yourself indefinitely but at some point, you must decide, are you an advisor or a digital marketing expert? If you are an advisor then look to hire an expert that can do all of the heavy liftings as you continue to guide and direct them.

Where do you go from here? Well, it depends on what you have done thus far. Advisors are at all different stages with their digital marketing.

If you are just starting out then do the basics; get your ideal client crystalized, set up your website and social media accounts, start producing basic free content to get comfortable and see what is resonating with your viewers.

If you are more advanced then consider hiring a team to help you. Consider advanced paid strategies to drive potential clients to your digital assets like eBooks and webinars.

Most important of all, just get started. Don’t over-analyze.

“70% and out the door” is a quote I love and can be applied to a lot of things including your digital marketing efforts.

Not sure where to start?  Send me a note and ask.

Thanks a ton for reading!

Best Regards,

Derek Notman

Lead Generation For Financial Advisors Isn’t Everything- Why We Need to Change Our Focus

lead generation for financial advisors

Lead generation for financial advisors, ugh, where do I begin? As advisors, we need to get the nagging voice out of our heads telling us, “you need more leads”. For decades, advisors have been taught to focus on obtaining leads to grow their business. This is all wrong. We don’t want leads, but rather ideal clients.

Think about it, would you like to be referred to as a lead? It’s such an impersonal, inhuman word, solely focused on one thing, selling something. Client, on the other hand, is a far more human word — one that is relatable and will lead to more significant sales.

We need to shift our focus to stay competitive in a rapidly changing world. Prioritize the client, not the business. Treat clients like the unique entities that they are. Worry more about niche satisfaction and the quality of your client acquisition than sheer numbers. Use a personable approach to liaising with clients, made up of empathy and support, to make you the clear choice in a financial advisor. Let’s dive a little deeper, shall we?

 

There Are Better Ways of Doing Things

To truly excel as an advisor, you need to understand you are not merely a salesman. There is so much more to being a great advisor than just selling a product.

Advisors who buy cold leads are essentially slapping people in the face (pitch slapping ring a bell?) as they ask them for money. It demonstrates that someone holds no value to you other than as a pay-check. This is not the kind of experience people are lining up to get more of, and they are rightfully looking elsewhere.

Prospecting is, for all intents and purposes, dead. Yes, it may yield some return — but at what cost? It’s a soul-crushing process that is certainly not scalable. As a virtual financial advisor, myself, I know there are far better ways to tell your story and propel new client acquisition in the digital world we live in today.

financial advisors

The Art of Financial Advice 

Financial advisors who focus on selling a product are subjecting themselves to massive competition – an endless rat race of misguided purpose and ambition. At the end of the day, we can all pretty much sell the same products and services. They are a commodity. But brilliant financial advice? That is an art form. An art form through which you can differentiate yourself and thrive.

Art requires skill – Michelangelo didn’t paint the Sistine Chapel by accident. You will need technical know-how and formidable storytelling abilities. Experience, credentials, and expertise create the basis for great relationships and client trust. Expressing your ideals and breathing life into your brand’s story can be the perfect lure to get well-suited clients.

With the possession of both skills, you can be sure the right clients will be placing their financial wellbeing in your hands. Advisors who focus on the art of financial advice have all the opportunity in the world with virtually no competition.

 

Clients Are Everything

Advisors who focus on client acquisition are the most likely to find long-term success. Remember, people don’t care how much you know until they know how much you care. You need to show them you care by marketing strong commonalities, deepening the human connection.

An ever-present human element forms part of any effective financial advisor marketing plan. This warm Conneqtor strategy bridges the gap between the service provider and the client. Once the client knows how much you care, they will be chomping at the bit to work with you.

As financial advisors, we need to facilitate meaningful, trust-building conversations. Before assisting with financial decisions, we can help clients clarify priorities and values. In this respect, a better client experience involves having financial knowledge and a fair deal of emotional intelligence.

Financial Advisor helping clients

Client participation

Client participation is equally important. Clients want to feel understood, informed, in control and secure within their service. For us, that means we need to deliver a hyper-personalized experience through smart consistency.

Smart consistency requires understanding where it’s critical to deliver a consistent experience and delivering on that. This means leveraging an established process to create tailored strategies based on what is most important to your clients. Advisors should put their clients’ interests before their own, using their goals and unique perspectives in their tailored strategies. A custom experience – that’s what clients want!

They like knowing what’s happening behind the scenes and feeling they have the best support in their corner. The client relationship should be aligned to achieve common goals of awesome advisory service and financial prosperity.

Time to change your focus, my advisor friends!

I hope you gained some valuable insight from reading this article! Remember, you can always reach out to me for more guidance and advice.

 

Best Regards,

Derek Notman

Digital Marketing for Financial Advisors: Compliance Guidelines

digital marketing compliance fir financial advisor

When creating a digital marketing strategy, compliance is often a complicated issue for financial advisors, usually turning out to be a bigger headache than it should.

I recently created a poll in a LinkedIn group, asking my peers what the biggest challenge preventing them from creating content on social media is, and 52% of them answered compliance.

Sure, digital marketing compliance for financial advisors is tricky, but you will never look back once you set up a proper process. After all, this is where most of your leads will come from, so you must come to terms with it.

Because social media posts are a form of advertising, your social accounts as a financial advisor are subject to specific regulations.

It all starts with understanding the law, on top of your company’s policies and procedures.

How you are registered as an advisor (RIA, IAR, Agent, RR, etc.) will partially determine what regulations you fall under but I believe it is safe to say that for an issue-free online presence, FINRA’s rules on communicating with the public as a financial advisor are crucial to follow. I think it equally important to abide by the requirements monitored by the Securities and Exchange Commission (SEC). These rules are in place to protect your audience from false, misleading claims, fabricated statements, and material breaches.

finra headquarters

As a financial advisor myself, I live in one of the industry’s most conservative compliance environments, so if I can do it, any advisor should be able to.

Here are some guidelines to follow when it comes to Digital Marketing for Financial Advisors.

Set up Your Social Accounts and Website to Be Compliant from The Beginning

As long as you are aware and understand the basic rules and set up your profiles to be compliant from the very beginning, keeping up with approved content will become second nature for you.

Most often personal & business profiles are subject to adhere to compliance standards for financial advisors. This includes any social account or profiles directly connected to and managed by you or your business. This will likely include Facebook, Instagram, Twitter, and LinkedIn. Your broker-dealer or another registered principal is responsible for having policies in place to archive, review, and pre-approve (when necessary) any content published on these accounts.

Get Your Content Pre-Approved from Compliance

The content you’ll need to get approved for publishing is any long-form content, such as blogs, whitepapers, eBooks, or newsletters. Long-form content or static content is usually published on your website and then shared to your social accounts – it lives on your site for an extended period. blog approval for compliance

If you have a digital marketing strategy and plan, you will need to get this type of content pre-approved by a registered principal. Whether this is through a broker-dealer or an independent RIA, it is imperative to get your content pre-approved before posting to avoid breaking any compliance rules.  Although a bit of a hassle this part is very important.  Your compliance back-office if there to protect you too so it’s imperative you work with them instead of against them.

Additionally, you’ll also be doing some community management, and hopefully, be answering a lot of inquiries through direct messaging. Anything interactive, such as tweets, videos, or posts to your wall, will happen in real-time and obviously cannot always be pre-approved for compliance. Although they can’t be pre-approved, they should most certainly be monitored & archived by someone who fully understands the rules and regulations.

Your best bet is to have a policy in place and train anyone who will be posting content on your business’s behalf, such as an assistant or a social media manager.

A lot of firms use technology made available from outside vendors that allows all of your content to be archived and monitored in real time, much better to do this than try and do it manually.

Put A Policy in Place

By having a policy that aligns with FINRA’s rules and ensuring that your employees understand and know how to follow it, you will always be in the clear.

When engaging with clients, prospective clients, or anyone you interact with online, it’s essential to keep up to date with any changes to compliance so that your business can stay away from any issues.

Make sure you understand which posts should be pre-approved, which posts need to be reviewed, and ensure that your employees understand the importance of adhering to your policy. You can view all compliance rules here.

If you are affiliated with a B/D or RIA they have teams that do just this and then educate the field on how to best interact online.  If you are independent this is on you and your firm to manage or find a firm to outsource it to.

Although being part of a B/D or RIA compliance environment can be frustrating it also is a major opportunity for you.  If you do things correctly and are respectful of your compliance department you can stand a chance to influence their policies to better reflect the world we live in.

You Need to Archive Everything

Regarding digital marketing for financial advisors, it’s an absolute must to keep track of and archive any content you publish online. Regulations demand that you archive all of your content and activity for at least three years. Why? For your protection.

If anyone has an issue or dispute with something you have published or shared further down the line, you will be able to dig it up and prove your actions.

Keeping tabs on what you’ve posted requires proper archiving tools. Each type of contact or update needs to be archived, no matter what account you’re using. This includes sent and received messages, which should be reviewed and monitored as they occur. The monitoring of these messages guarantees compliance for financial advisors, so action can be taken if necessary.

For your website this also can be automated and made simple with strong workflows.  I use Advisor Websites for my two sites and their dashboard is directly connected to my compliance back-office so they can review, archive, and approve all my website content.

Never Recommend A Particular Investment or Product

Again, this is for your own protection. By refraining from making any investment recommendations, you will not be held accountable for any of your audience’s choices. Your goal with social media, digital marketing, and your website should be to create an educational environment where people can come get to know you and learn about things in general terms.

You shouldn’t be recommend a product, investment, strategy, etc. since you have no idea who is seeing your message and what their situation is.

Instead you should be letting people get to know you, professionally and personally, sharing general principals and ideas, and so on.  Your digital marketing efforts should lead people down a path to eventually them wanting to contact you.  If done correctly people will know what you do and who you do it for.  So build your tribe and let people contact you when they are ready.

Be Mindful of Third-Party Websites and Links

Using third-party sites to deepen your content has enormous benefits. The most significant benefit is through backlinks, which can improve your organic ranking on search engines and generate referral traffic.

Just take the same approach as with any of your other activities online, be wary of whether the content or website you are linking to is compliant with the rules and regulations set out by FINRA and SEC.  This will be a tough one to manage but what you can do is make sure in your disclaimers that people understand you are not responsible for the information you linked to and are providing it as a value add since you believe it helps further your point and message.

In short, don’t link to any sites that may contain false or misleading information. As you begin to post compliant content, it will take no time at all for you to identify what kind of content is acceptable.

You do not want your firm to look as if it is endorsing any cunning content.

Lastly, my advice is to add a disclaimer on your social media profiles stating that none of the information you provide should be construed as investment advice – this will act as an additional barrier of security against any disputes.  In fact, this is required by virtually all firms and is simply a best practice you should be using.

So, there you have it, digital marketing compliance for financial advisors in a nutshell.  Yes, there is a lot to it, but it is clear you can be successful with your efforts if you stick to being honest, ethical, and following the letter of the law.  Feel free to check out my advisor websites for Intrepid Wealth Partners and Tribe of Luxury for ideas and inspiration.

If you have any further questions in connection with digital marketing for financial advisors, please feel free to contact me – I am always happy to help!

I hope you find this article useful.

Kind regards,

Derek Notman

My Experience of Presenting at Riskalyze Fearless Week

riskalyze fearless week experience

We are currently in a global megatrend, and as financial advisors, we have no choice to evolve and embrace this change. The future is now.

If we do not embrace these waves of changes, we will become FADs (Financial Advisor Dinosaurs). As an industry, we are quite averse to change, but as a silver lining, the COVID-19 pandemic is somewhat forcing us to change.

The brick and mortar advisor is dead. But the virtual financial advisor will be able to make exponentially more money while drastically reducing their overhead. Furthermore, they will be able to form stronger connections with their clientele then what was previously thought possible.

I spoke about this at Riskalyze Fearless Week – more on that below.

fearless week setup

Riskalyze Fearless Week

I will most definitely look back at presenting at the Riskalyze Fearless Week Virtual Conference as a professional highlight of 2020.

It was an epic experience for me, packed with value and loaded with opportunities to meet so many distinguished, influential people.

This year has thrown us all for a loop, and there’s no denying that, but the whole Riskalyze team did a fantastic job of putting together a massive conference for the benefit of over 2,500 advisors all over the world. Riskalyze is undoubtedly paving the way for how virtual conferences should be done. A job well done, my Riskalyze friends!

I was humbled to have been included as one of the featured speakers for the event, and although the event was entirely virtual, it was still a blast and perhaps even more effective in some ways!

I was able to communicate with fellow advisors in real-time during my session, and I was also able to instantly schedule meetings right within the conference platform.

It was incredibly refreshing and encouraging to see how many advisors around the world are forward-thinking and looking to build an amazing practice while doing what is right for their clients. As I mentioned earlier, we have no choice to adapt, and in doing so, I can see how my peers are benefitting tremendously from the virtual financial planning model.

The 4-day event was packed with useful and practical information that was well diversified from a content standpoint.

And although so much was learned, my biggest takeaway was that our industry is becoming open to evolving, opening up to change, and is led by so many brilliant people trying to improve the work we do from so many angles.

Mindset is a hard thing to change, and the Riskalyze event illustrated just how open to change people are and highlighted the wondrous things that lay ahead for us all.

riskalyze fearless week

Takeaways from My Riskalyze Session

Our brain gets in the way of our evolution, when, in fact, the opportunity to transition to what the modern-day consumer wants from us is more straightforward and faster than what you realize.

The financial advisor who embraces this change and effectively transforms their business into a virtual financial planning practice will benefit from the following:

– Location independence

– A robust digital footprint

– A focus on process and relationships, rather than your product

– Cutting out costs like staff, travel and rent for office space entirely, reducing your overhead significantly (meaning more money in your pocket.)

– Using your knowledge and experience to position yourself as a thought leader in your industry, and in turn, creating more awareness around your service offering

– Heaps more time on your hands to focus on what truly matters to you

What Can You Do Right Now?

I understand that it may come across like we are just throwing around a bunch of new concepts and expecting you to accept them. However, we are merely introducing you to a very apparent reality. The world has changed forever. Before the pandemic struck, we were on the brink of an inflection point, and all COVID-19 did was accelerate that change that was already underway. I want you to know that the solutions and survival of your profession are within virtual reach.

Adopting a Semi Virtual Financial Planning Model

If you are interested in finding out more about what it means to adopt a (semi) virtual financial model, then download our free e-book.

Our system, Conneqtor, will equip you with everything you need to move forward in the new normal as a financial advisor, from lead generation to creating a robust digital footprint.

If you’d like to chat more about what our virtual advisor system can do for you, please do not hesitate to get in touch.

I hope you enjoyed reading about the future of our industry!

Kind regards,

Derek Notman

 

Riskalyze Session Replay: The Brick & Mortar Financial Advisor is Dead!

riskalyze week in review

Long Live the Virtual Financial Advisor

The wave of change has crested the financial services industry. The traditional financial advisor has to learn to ride it, or be crushed by it.

As financial advisors begin to navigate the inflection point that was catalyzed by the COVID-19 pandemic, its imperative that we as an industry begin to not only acknowledge, but embrace the fact that technology has evolved to a point where our ideal clients are beginning to expect a different, more streamlined service from us.

Our founder, Derek Notman, was privileged enough to present at this years Riskalyze #Fearless Week last week. In future fashion, this year Riskalyze had no other choice, but to embrace a virtual alternative to their regular conference format, which actually made the conference more accessible to advisors across the globe.

View Derek’s session below:

Riskalyze Virtual Conference Agenda

  • The Financial Advisor of the Future.
  • Why does any of this matter?
  • Who is Derek Notman?
  • A global megatrend.
  • The consumer has evolved.
  • The financial advisor is stuck in 1985,
  • How Conneqtor is empowering advisors.

the financial advisor of the future

What can financial advisors do right now?

It might seem like we are just throwing around a bunch of concepts and telling you to accept them. No, we are just introducing you to a very apparent reality and want you to know that the solutions are with in virtual reach.  These changes were already underway, COVID-19 simply sped them up.  Advisors must evolve along with the rest of the world.

If you want to know more about what it means to adopt a (semi) virtual financial advisor model, then we highly recommend downloading and starting with our free e-book. It is for lack of a better phrase, a virtual step in the right direction.

If you’d like to chat more about what Conneqtor can do for you, please do not hesitate to get in touch.

Thank you!

Cheers,

Derek Notman

Adopting a Digital Financial Model – The Exponential Era Webcast

the exponential era webcast digital financial model

‘Staying ahead of the curve’; a phrase that has become the new normal as financial advisors from across the world search for new ways to find more ideal clients in a pandemic stricken world.

Beyond the notion of ‘staying ahead of the curve’, what does this concept mean for advisors and how can financial advisors evolve from the traditional bricks-and-mortar setup to not only survive, but thrive in the new world?

The answer? Adopting a digital financial model for your financial practice!

Adopting a Digital Financial Model

Conneqtor founder, Derek Notman recently had the privilege of featuring on the Exponential Era webcast hosted by David Espindola and Michael Wright recently.

The webcast focussed on how adopting a digital financial model allows financial advisors to thrive in a post-COVID world. Since taking his practice virtual in 2013, Derek has been able to:

  • Establish an incredible life-work balance.
  • Generate more ideal clients from virtually anywhere in the world.
  • Increase revenue, while managing risk.

What makes this so possible in a post-COVID world? The consumer is now consuming more virtual content than ever, and feel more comfortable building relationships virtually.

Derek didn’t want to be a slave to his business and believes that every financial advisor should be able to enjoy this reality. Since there was no roadmap for the journey he embarked on in 2013, it took him a while to figure it out. Fast forward to today and Derek is enjoying the spoils of what Conneqtor has to offer and more.

Watch The Exponential Era Webcast by Intercepting Horizons below and dive deep into Derek’s journey as a virtual financial advisor and how COVID-19 affected his business:

 

Serving Financial Advisors Around the World – CapIntel Webinar

capintel how to build a virtual financial practice webinar

Conneqtor Serves Financial Advisors Around the World

Building a successful virtual practice will become the norm for financial advisors as we move into what can be perfectly described as the era of the virtual financial advisor. 

Derek sat down with James Rockwood from CapIntel to explore how financial advisors came make the transition to the virtual model and how they can successfully build a virtual financial practice.

As advisors battle with the future of growing their business in a post-pandemic world, Conneqtor’s virtual advisor system provides a gateway to becoming a Next Gen advisor. Next Gen advisors are not only able to survive, but have the knowledge and tools at their fingertips to thrive amidst, and after global pandemics like COVID-19. CapIntel is one such tool!

What is Capintel?

Much like Conneqtor, Capintel exists to empower advisors. CapIntel do this by providing a market leading sales platform that allows advisors to compare client portfolios and investments with ease. The ability to do this, coupled with the infrastructure to produce world-class proposals has resulted in advisors selling 50% more of their assets compared to advisors who don’t use the CapIntel system!

Taking Your Practice Digital

In this webinar Derek covers the hows and why’s involved in going virtual including:

  • The first step financial advisors need to take to go virtual.
  • Building and leveraging a robust digital footprint in a post COVID world that allows you to find more ideal clients and better service existing ones.
  • The possibility of a semi-virtual vs fully-virtual model.
  • The biggest lessons Derek wish he had under his belt when he went virtual in 2013.

Watch the webinar below:

Lead Generation for Financial Advisors During the COVID-19 Pandemic

how to generate leads during covid19

Lead generation for financial advisors in an online space requires an overhaul of your approach to communication and marketing (see how I didn’t say “prospecting”?). As many professionals try to adapt to remote work, we find ourselves in a unique situation due to COVID-19.

people having a video call with corona protection masks

 

 

 

 

 

 

 

 

 

It’s not the first time we’ve had to endure a worldwide pandemic, but it’s certainly the first time we’ve needed to in a time where we are all connected through technology.

According to We Are Social, out of the 7+ billion people in the world, there are 4.39 billion internet users worldwide.

So, as awful as this situation is, we can count ourselves lucky due to the online tools available for conducting business. As a business owner, however, the real challenge lies in lead generation.

Transforming into a Virtual Financial Advisor

After being a Virtual Financial Advisor for years now, I can tell you that running a financial planning practice online has brought me more success than in my brick and mortar days. As a financial advisor, you must’ve noticed the increased interest in clients wanting to meet over a video call as opposed to in-person? Have you noticed that the need for running your business out of physical office space is slowly declining?

With Millennials and Generation Z now making up over 38 percent of the US workforce and predicted to make up 58 percent within the next decade, transforming yourself into a virtual financial advisor makes total sense.

Lead generation for financial advisors in an online world means you need to transform yourself and join fellow financial advisors in the virtual movement of the future.

Being one of the first financial advisors in the US to successfully take my business online, I decided to create a system to help other advisors do the same. Let’s take a brief look at how my virtual advisor system works and how it can help you generate leads.

Conneqtor – The Virtual Advisor System

In short, Conneqtor empowers financial advisors like you to have the ability to achieve the following:

  • Exponentially make more profit while efficiently controlling risk
  • Work with more prominent and more ideal clients
  • Work from anywhere while expanding your reach, opening yourself up to an international market
  • Leverage your time & money to increase your impact on the market
  • Achieve an excellent life/work balance while helping your clients do the same

Conneqtor helps with lead generation for financial advisors by teaching them everything they need to know and do to drive inbound leads without having to pick up the phone to do it. Our system offers a defined virtual sales process, and shows you how to build up a virtual financial planning practice, covering an in-depth guide on the following crucial aspects:

  • Hiring a team of virtual assistants
  • A virtual client contact/service module
  • Learning email language for younger clientele
  • Creating your business’ website
  • How to blog and the importance of it
  • How to use social media for brand awareness and client question
  • Using SEO to maximize your reach online (an essential strategy used in the lead generation for financial advisors)

In today’s market, financial advisors need to create a virtual presence that drives inbound clients to them while enhancing the client/advisor experience. Consumers expect this, and they look to social media and search engines to find us.

The Virtual movement is about creating a meaningful impact and building client trust and relationships before a word is ever spoken.

virtual financial advisor generating online leads

A word from one of my advisor clients:

“The strategies you provided go deeper into truly becoming a credible source in the virtual world versus simply having a social presence. While Conneqtor does take diligence and will certainly force many out of their comfort zones (myself included), it can be a true differentiator for any financial services professional utilizing the system and will set them apart from both the brick and mortar and kitchen table agents. There is no question this is a form of communication clients are hungry for, and the impact the Conneqtor has can change the lives of the clients who embrace it as well as the lives of the agents.” – Kristin Stutz, Financial Services Professional

If you’re interested in taking your financial practice online, then download our free eBook or get in touch with us today. A brighter future awaits.

Thanks for reading!

Regards,

Derek Notman