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Financial Advisor Startups: Getting Started With Digital Marketing

We are going to make five key assumptions that will drive the content in this article:

  • You are a breakaway broker who is starting your own firm.
  • Your main interest is transitioning current clients to your new firm.
  • Digital marketing is not a priority until you have transitioned as many of your clients as possible.
  • When the transition is complete, you will focus more resources on adding new clients.
  • There are a lot of start-up expenses, so you want to minimize marketing expenses until a later date.

In the beginning, your principal investment will be a professional-looking financial advisor website that communicates key information about your new firm.

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In the beginning, you may want a website that targets the clients you want to move from the old firm to your new firm.

When the transition process is complete you can change your target market to investors who find you on the Internet.


Why have a financial advisor website?

There are a few simple answers. First, every financial advisor in America has a website. Investors expect financial advisors to have websites. You would be conspicuous if you did not have a website.


What kind of financial advisor website do I need?

You have two primary choices that we will call Plan A and Plan B.

Plan A is leasing a template-based website for $100 per month and providing all of your own content. Or, you could spend a few hundred additional dollars per month and get a more robust website where more of the work is done for you by digital marketing experts.

Plan B is to spend thousands of dollars on a custom, lead generation website that you own,

Plan C is to start with Plan A and convert to Plan B when the timing is right.


What is the target market for my initial website?

Your initial target market might be clients at your old firm that you like to bring over to your new firm. Once this transition is complete your target market could be investors who are using the Internet to find and screen financial advisors.


What type of content would I need for the initial website?

First, there is the basic information that appears on most financial advisor websites:

  • Home page
  • About Us
  • Who We Serve
  • What We Do
  • Why Select Us
  • Resource Center
  • Contact Us

One of their biggest concerns of an existing client may be leaving a more established firm (perhaps a brand name) for a start-up. A principal concern will be the safety of their assets.

You may want an additional page of content that describes why you made the decision to start your own firm. This information should make current clients feel more comfortable about following you to your new firm. Some of the information you may want to add to your new website includes:

  • Why did you choose to leave your old firm?
  • How are your clients better off following you? 
  • How does independence benefit your clients?
  • Who is the custodian of your client’s assets?
  • What happens to their overall expenses

You may want to profile a brand name custodian, if applicable, to add another layer of security. 


What determines the quality of a financial advisor website?

A positive first impression is critical because that is what keeps investors on your website.

Your financial advisor website delivers the information that investors are seeking in 3 minutes or less - the average time investors spend on financial advisor websites.

Your new website is optimized to meet all of Google’s performance standards. For example, your site loads in 2.8 seconds or less. Your performance rankings are 90 or higher.

Your website is optimized for mobile devices. Per Google, 62% of searches for financial advisors are conducted from mobile devices. This type of search has increased by 75% in just the past two years.

When you are ready to market to strangers your website has to be competitive with other financial advisor websites. That’s because a typical investor will view six to eight websites and contact three. You have to make the cut.

The new website has to convert visitors into leads. Some leads will want appointments. Other leads will want information - for example, an eBook that has registration requirements.


What are some other tips that would increase the productivity of my website?

Congratulations on making the bold decision to start your own financial advisory firm! As you already know, your online presence, in particular your website, will play a pivotal role in transitioning your clients and attracting new ones. Here are a few more tips that will improve your results.

Building Trust and Credibility: Your website should emphasize your expertise and experience. Testimonials, case studies, and certifications can go a long way in building trust.

Information Transfer: Make it easy for your clients to understand the transition process. Dedicate a section of your site to FAQs or resources about the transition process, the benefits of the move, and what they can expect.

Client Portal Access: If you're providing a new platform or portal for clients, ensure that there's an easily accessible link or login area.

Content: Regularly updated blogs or articles about financial planning, market updates, and other relevant topics can position you as a thought leader in the industry.

SEO: Optimize your website for search engines to help attract new clients. This involves using relevant keywords, producing quality content, and ensuring your website is technically sound.

Clear Call to Action: Encourage site visitors to take action, whether it's scheduling a consultation, subscribing to a newsletter, or downloading an eBook.

Compliance: Ensure all content and promotional materials meet regulatory requirements for financial advisors.


How Paladin Digital Marketing Can Help:

Paladin specializes in helping financial advisors grow their businesses online. Here's how they can assist:

Customized Websites: Paladin can develop a professional, responsive website tailored to your brand and audience.

SEO Services: Paladin can optimize your site to rank higher in search engine results, making it easier for potential clients to find you.

Content Creation: Paladin offers content services to keep your website fresh, relevant, and engaging.

Digital Advertising: Through targeted ads, Paladin can help increase your online visibility and drive more traffic to your site.

Lead Generation: Paladin has 20 years of experience providing specialized tools and strategies to generate high-quality leads for financial advisors.

Reputation Management: Paladin can assist in managing and promoting online reviews, which can be critical for building trust.

Reporting and Analytics: Paladin provides detailed reports on your digital marketing performance, allowing you to make informed decisions.

Starting your own RIA is an exciting journey, and a strong online presence is crucial for your success. While transitioning clients, focus on clear communication, ease of access, and reassurance. For future growth, leverage digital marketing tools and strategies to position yourself as a trusted expert in the financial advisory landscape. Working with specialized agencies like Paladin Digital Marketing can provide the expertise and tools necessary to achieve your goals.


About Paladin

Paladin is a team of digital marketing professionals with more than 100 years of collective financial industry experience marketing our clients' services to individuals, institutions, and financial advisors. Paladin is a boutique agency that was founded in 2003 to provide game-changing digital marketing services to a limited number of firms and professionals in the financial service industry. Our services range from designing and developing custom websites to providing SEO, SEM, and Fractional CMO services. Want more information about our digital marketing services? Email your request to Paladin’s CMO: Jack@PaladinDigitalMarketing.com

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