Wealth Firms who can deliver marketing strategy and technologies to their advisors gain a clear advantage.
As marketing rapidly evolves and external challenges arise, Financial Advisors are struggling to adapt
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A recent study of 400 U.S. financial advisors took a close look at Financial Advisor marketing habits and attitudes, how 2020 altered their plans and their confidence in meeting their growth goals in the months ahead.
Only 23% of Financial Advisors have a defined marketing strategy – but those who do reap the rewards.
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Degree of Marketing Strategy Definition
Only about one-quarter of advisors have a defined marketing strategy.
Defined strategy
23%
Less defined strategy
35%
No defined strategy
42%
Those financial advisors who have a defined marketing strategy have a more optimistic outlook and are winning at client acquisition
Very Satisfied with Marketing ROI
Advisors who define their target audience, understand where they should share relevant content and how to nurture leads through digital channels, are better equipped to engage clients and drive a higher return on marketing investment.”
- Michael Alexander, President of Wealth Management at Broadridge
Team with Broadridge to infuse your advisors with confidence
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Selecting the appropriate technology to leverage
86%
Finding the time for marketing efforts
86%
Developing a digital marketing strategy
91%
Financial advisors are challenged by digital strategy, finding time for marketing efforts and selecting appropriate technologies
Extent of Challenge Posed by Marketing Activities
Neutral/Not Confident
51%
Somewhat/Very Confident
49%
They lack confidence in meeting their practice growth goals
Confidence in Meeting Practice Growth Goals in Next 12 Months
A defined marketing strategy creates a major advantage, but financial advisors need assistance with devising the plan. Wealth Firms who deliver a clear roadmap give their field an edge on the competition.
2020 has accelerated the shift to digital marketing strategies, but financial advisors need assistance developing and activating a digital plan, including the selection of appropriate technologies. Wealth Firms can break through the barriers by delivering pre-approved solutions.
With Broadridge, you can deliver a next-gen marketing toolkit with built-in automations for easy adoption and deployment. Pair marketing innovation with high-powered content to spark investor engagement and grow your advisors’ marketing confidence.
Methodology: Survey of 400 US-based financial advisors across IBD and RIA channels completed the survey, which was fielded in August 2020 by independent research firm 8 Acre Perspective Corp.
Have a defined marketing strategy
Do not have a defined marketing strategy
9%
24%
Do not have a defined marketing strategy
70%
Have a defined marketing strategy
91%
Very or Somewhat Satisfied with Marketing ROI
Do not have a defined marketing strategy
41%
Have a defined marketing strategy
75%
Somewhat or Very Confident in Meeting Growth Goals
Do not have a defined marketing strategy
14
Have a defined marketing strategy
24
Average New Clients Onboarded in Past 12 Months
who do reap the rewards.
Only 23% of Financial Advisors have a
defined marketing strategy
– but those
“
“
Michael Alexander
