How investors find financial advisors (Google, referral, advertisement, billboard, radio, directory) no longer matters as much as in the past. What currently matters the most is what investors see online when they use the Internet to screen financial advisors. That’s because screening outcomes can lead to scheduling interviews - the next step in the investors’ selection processes.
Our most recent research shows that 82% of investors will visit financial advisor websites to learn more about them. 64% of investors will Google search the financial advisors (firms and professionals) to learn even more. They have one common goal: To protect their financial interests by selecting the right financial advisors.
Investors have several ways to find financial advisors, but the Internet is their fastest, easiest, safest way to learn more about them without giving up their anonymity. This phenomenon transfers a lot of power into the hands of investors (whom they interview).
Paladin has spent more than 20 years providing financial advisor marketing services. During that time span, we surveyed thousands of investors to determine how they used the Internet to help them select the best independent financial advisors.
We will cover the following five topics in this article that will help financial advisors use the Internet more effectively:
- What happens when investors know the name of the financial advisor?
- What happens when investors don’t know the name of the financial advisor?
- What happens when financial advisors are hard to find on the Internet?
- What are investors looking for on the Internet?
- What are the consequences if you are invisible on the Internet?
- What are some big online Internet mistakes that financial advisors make?
What happens when investors know the name of the financial advisor?
When investors use the Internet to find and screen financial advisors, entering your name into a search engine becomes crucial. This search allows potential clients to gain insight into your professional background, reputation, and credibility.
The first thing they are likely looking for is your online presence, such as a professional website or LinkedIn profile. A well-designed website establishes trust and provides valuable information about your services and expertise.
Secondly, investors are seeking evidence of your qualifications and credentials. They might explore your educational background, certifications, and professional affiliations. Strong credentials can instill confidence in potential clients, assuring them you possess the necessary expertise to handle their financial affairs.
The third key factor that draws investors to contact particular financial advisors is positive reviews and testimonials from current clients. Favorable feedback from satisfied clients serves as social proof of your abilities and trustworthiness. Investors often rely on the experiences of others to gauge the quality of service they can expect, making testimonials a powerful influencer in their decision-making process.
Finally, when investors search for financial advisors online, they seek a strong presence, credible qualifications, and positive reviews. Financial advisors can attract potential clients by presenting a compelling digital image and providing evidence of expertise and satisfied clients that establish lasting relationships based on trust and competence.
What happens when investors don’t know the name of the financial advisor?
When potential investors lack the specific name of a financial advisor, they resort to the vast digital universe. Typing keyword combinations into search engines, they strive to find an advisor's website or relevant content. The Internet thus becomes an essential tool to gain visibility for the advisor. It's where first impressions are formed, and the perception of credibility begins to take root.
Investor due diligence is a crucial component of this online search. Investors scour the internet to ensure that the advisors they're considering are trustworthy, competent, and a good match for their financial objectives. In a system that is teeming with potential advisors, standing out through online visibility is paramount, so it's essential that an advisor's online presence is robust and professional.
An advisor's visibility on the Internet may be a starting point, but it can also be the beginning of a new client relationship. Suppose a potential client finds the advisor's content useful, informative, and well-written. In that case, they may initiate contact for an introductory call, demonstrating the transformative power of effective digital marketing (it may take several articles to build this amount of credibility and trust).
Therefore, an advisor's Internet visibility is not merely about making a good first impression. It is about establishing a strong online presence that draws investors in, fosters trust, encourages investor due diligence and motivates them to make contact. Being visible, credible, and accessible online is the new currency for financial advisors seeking to expand their clientele in the digital age.
What happens when financial advisors are hard to find on the Internet?
Investor due diligence is a crucial component of this online search process. Investors scour the internet to ensure that the advisors they're considering are trustworthy, competent, and a good match for their financial objectives. In a realm teeming with potential advisors, standing out through online visibility is paramount, so it's essential that an advisor's online presence is robust and professional.
The advisor's visibility on the Internet can, indeed, lead to new client relationships. Suppose a potential client finds the advisor's content useful, informative, and well-written. In that case, they might even initiate contact for an introductory call, demonstrating the transformative power of effective digital marketing.
Therefore, an advisor's Internet visibility is not merely about making a good first impression. It is about establishing a strong online presence that draws investors in, fosters trust, encourages investor due diligence and motivates them to make contact. Being visible, credible, and accessible online is the new currency for financial advisors seeking to expand their clientele in the digital age.
What are investors looking for on the Internet?
Investors typically approach the Internet as a powerful tool for conducting in-depth research on firms and professionals. They're primarily interested in the experience, credentials, and kinds of clientele these firms and professionals serve.
The goal is to align their needs with the firm’s services, which is a foundational aspect of a digital marketing presence. They want to ensure the professionals they might work with have experience working with clients with similar financial situations and goals.
At the same time, investors are increasingly savvy in using keywords to search for financial advisors online. They leverage search engines to help them identify potential advisors, so firms must strategically utilize search engine optimization (SEO) to increase their online visibility. The right use of keywords can significantly affect whether a firm's website shows up in an investor's search results.
Investors also evaluate a firm's digital footprint by studying its website traffic and the nature of its online engagement. They are looking for signs of robust client interactions, positive reviews, and a diverse clientele base. Therefore, a strong digital marketing strategy is essential to boosting website traffic and encouraging visitor engagement.
Conversion rates also play a crucial role. A high traffic rate is beneficial, but it's the conversion of that traffic into tangible leads or clients that ultimately matters. A successful digital marketing strategy ensures that visitors find relevant, engaging content that persuades them to take the next step (the Call To Action). This conversion is often a clear indication of the effectiveness of a firm's online presence and marketing efforts.
What are the consequences if you are invisible on the Internet?
The Internet is vital for potential clients to discover and engage with financial advisors. If these professionals are invisible online, they lose the opportunity to attract and capture leads.
Their digital marketing presence allows advisors to share their knowledge, expertise, and advice, attracting those seeking financial guidance. The lack of an online presence could mean missing out on a substantial pool of prospective clients who primarily conduct their research online.
Credibility and trust are also crucial when financial expertise is the service. Clients need assurance they are dealing with experienced, reputable professionals. An online presence helps validate a financial advisor's credibility. In the absence of this validation, individuals may question the advisor's legitimacy and reliability, leading to lost trust and future clients.
Competitiveness in today's digital age demands visibility on the internet. If a financial advisor is invisible online, they stand to lose business to more visible competitors. Digital visibility through well-designed websites, professional profiles, and insightful content can significantly boost an advisor's competitive edge.
It also stands to reason investors often equate online visibility with stability and success. A strong online presence indicates a thriving, modern practice. An invisible advisor might be perceived as being outdated or unsuccessful. As a result, a lack of online visibility may instill doubt in potential clients about the advisor's capability to provide the best financial advice and strategies.
What are some big online Internet mistakes that financial advisors make?
Financial advisors often make the grave mistake of having a static, impersonal online presence. The internet has created an era where consumers seek personal, interactive experiences. The financial industry is no exception.
Advisors who fail to use online platforms to engage with their clientele and potential customers miss a significant opportunity to create an emotional connection and build trust. For instance, updating blogs with personal experiences or sharing industry trends in an informal, relatable manner can make a substantial difference.
Another common error is not effectively managing their online reputation. In the digital age, a single negative review or a poorly handled client interaction can significantly tarnish a financial advisor's reputation. It's critical for advisors to monitor their online reputations, responding to reviews and comments in a timely, professional, and empathetic manner. A negative online image can lead to losing clients and deterring future ones.
Financial advisors often underestimate the power of Search Engine Optimization (SEO). An outdated understanding of SEO can lead to a lack of online visibility, which can be detrimental to gaining new clients. In a world where most people turn to Google for their queries, an advisor's online presence must be optimized to appear in relevant searches. This isn't about tricking the system but creating valuable, relevant content and presenting it in a way search engines can understand.
Many financial advisors also miss the importance of mobile-friendly interfaces. With a significant portion of internet users accessing the web through their smartphones, having a website that isn't mobile-friendly can result in a frustrating user experience, causing potential clients to abandon the site and seek services elsewhere. Consequently, it's crucial to ensure websites are optimized for mobile browsing to accommodate the changing digital landscape.
Financial advisors often make significant mistakes in their online practices by failing to use SEO to enhance their online visibility and website traffic. They download content from search engines that have already been seen by the search engines hundreds or thousands of times. And their websites are nothing more than online sales brochures.
Addressing these pitfalls can considerably enhance their online presence, ultimately resulting in increased leads and expanded new business growth.
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
