What Is Your Prospect’s Journey as a Financial Advisor?

In wealth management, the prospect journey has dramatically changed. Before the pandemic, very few people were using technology such as zoom online calendar links digital signatures, and to a lesser degree digital marketing. That has all changed in the last three years. Financial advisors need to understand the paradigm shift in their marketing.

What has changed?

Has your online presence changed? For example three years ago if you told me you would grow your business through LinkedIn I would've thought you were crazy. but now I see advisors at all levels using LinkedIn on a daily basis. the same thing happened years ago when they said every financial advisor is going to need to have a website. Guess what you've got a website that hasn't been updated lately? The thing to do today is to make sure your LinkedIn profile is up to date. here are a couple of simple things to do:

  1. Make sure your picture is there and updated 
  2. Make sure your contact information is updated and includes your website your online calendar telephone number and any other way to get a hold of you. It is a digital world and some clients text some clients call some clients e-mail some clients send you a message through a different medium the main thing is you're accessible.
  3. Clean your LinkedIn database and get rid of anyone who is not going to do business with you including other fellow financial advisors. this was a tool to connect with the industry in the past but now it is a tool to use in your practice for clients and prospecting.
  4. Go through your database and see if there are any opportunities. You use LinkedIn to find and connect with people but the goal is to get them into your CRM and prospecting system. remember always check with compliance before doing any marketing.

What is the prospect's journey?

I always say this is a crazy business. you want to ask strangers to tell them everything about themselves and give them all of your money and all of your trust. sounds crazy, doesn't it? how do you build trust in a digital world? Here are a couple of simple things to do. First off the law of familiarity. people want to know everything about you personally and what you do and they will be curious to know your story. your story should be on LinkedIn on your website in video and in any other forms of communication. imagine you walk into a new restaurant and on the back of the menu is the story of the restaurant. the story of them being there for 30 years serving the community contributing to the community and telling their story. Do you read it? People want to know your story.

Next is social proof and authority. What makes you an expert and what you do? Besides testimonials how else can you demonstrate this? do you have articles in publications or the media? do you have a radio show you have a blog a podcast anything in the online world where people can see the social proof? Have you been recognized by your firm or the industry or peers?

Finally, what are you an expert in. or as I like to say who are your ideal clients with whom you do your best work? do you have an ideal client profile that is on your website that you share with your client's prospects and centers of influence? Your ideal client or family should include age, groups, types of clients such as professionals business owners corner office executives or other?

Are the people that you work with people who are goals focused And these are also people who delegate their financial affairs to you and your firm. Now does your ideal client profile match the content that you are delivering? do your newsletters or posting content match? For example, I want to focus on financial advisors through our financial advisor practice management system© who have a revenue of 1 to $5 million and are looking to build an ideal team. All of my content focuses on practice management and that is where I want to have people see me as an expert in. All of my offers are on practice management. These are simple things to implement once you have clarity about who your ideal client and families are.

Have you taken your prospect's journey?

How does someone get to know you and your firm? Have someone walk through your prospect journey and look at your profile your website your communications your videos your social proof your authority and your expertise. then look at all the offers you have in that process? For example, a must-have offer is an online calendar link to have a quick conversation. you know once you get in front of somebody you can do some great work. the challenge is this as a deeper digital process with deeper offers. people need to have a deeper prospect journey and this is where the paradigm shift has happened between average and old advisors and elite financial advisors. If you improve your prospect's journey then you'll see how much more comfortable your clients will be in referring to and introducing you. it is easy to learn about you what you do where you do your best work what you offer in a digital world. as always we're here to help Implement these ideas into your practice.

The question should now be: What is your prospect's digital journey in hiring you as their next financial advisor?

Related: Top Mistakes Financial Advisors Make and How To Avoid Them