Let’s start with your definition of what constitutes a great financial advisor website.
Many advisors base their overall opinions on websites aesthetics. This could be as simple as graphics appeal. Others like how their content captures and represents their firms and the professionals who work there.
However, successful financial advisor websites convert visitors into qualified leads (appointments) and contacts (information). Leads and contacts are what produce new revenues for financial advisors. And chances are, websites getting the job done incorporate both well-branded graphics and captivating content.
When conversions are the definition of greatness, financial advisor websites have to be competitive with others in the area. That’s because investors will visit several sites but only contact a few of them for interviews. What they see online determines who they contact.
If a financial advisor’s website is not producing leads, there’s a good chance the website is not competitive enough.
So what can financial advisors do to ensure their websites are captivating visitors?
Make a lasting first impression.
Step one is to deliver useful information and engaging content that encourages investor action. Based on our surveys, you have two minutes and thirty-three seconds (average time on a financial advisor website) to make this happen.
As a critical digital variable, “you only have one opportunity to make a positive first impression.”
Does your firm provide the right services?
It stands to reason a high priority for investors is finding financial advisors that deliver the services they seek. This presumes they know the services they need.
Based on their current circumstances, all investors need one or more primary planning services: financial, college, retirement, estate, or charitable. After all, the plans are their roadmaps for achieving their financial goals.
Some investors seek additional service providers that offer risk, tax, and legal support. Perhaps these investors recently relocated to new cities and are looking for the most reputable services in the area.
Advisors should make sure their websites provide clear, succinct descriptions of their services. Too much information is just as bad as too little.
Do you work with the right types of investors?
Investors prefer specialists because they believe specialists will produce better results than generalists.
For example, a financial advisor who specializes in working with pre-retirees will produce better results than a financial advisor who does not have this specialized expertise. This may or may not be accurate, but it is a common perception.
There are several examples of investors who benefit from the specialized knowledge of financial advisors: business owners, women, doctors, and others.
For these reasons, the Who We Serve page is a very important one. Again, you want precise descriptions of your firm's various types of investors.
Do you have a team of financial experts?
One of the most visited pages on any financial advisor website is the Our Team page, where investors can learn more about the firm's professionals. In general, this page shares a well-designed layout of photos and bios of the team members.
What happens if there is no team? This occurs when RIAs are staffed with one professional. Then the Our Team page becomes the Our Founder page. More creative firms will build teams of affiliated professionals who coordinate their advice and services.
Does this create a competitive disadvantage for financial advisors with one or a few financial professionals? Put yourself in the shoes of investors seeking financial advisors who can help them plan their futures and achieve their goals. They may have trouble believing one professional is an expert in all financial disciplines.
In an outbound marketing environment (advisors initiate contact with investors), this could get down to the sales skills of the financial advisors and their ability to convince investors they are experts in multiple fields.
However, the Internet has created an inbound marketing environment (investors initiate contact with advisors), so financial advisors will not get to employ their sales skills if investors do not choose to contact them on their websites.
What are the credibility builders?
Anything that adds to the credibility of financial advisors on their websites is a major plus.
Credentials matter: education, experience, certifications, association memberships, and recognition from third parties are essential. Combining the credentials of multiple professionals is also a bonus—when investors get the best thinking of a team versus a professional.
A high percentage of financial advisor websites also have Resource Centers or functions they label Insights. As an added value, these centers give investors access to tools that help strengthen credibility:
The best content will address the financial pain points of investors served by financial advisors. For example, what is the biggest fear of investors in their early retirement stages? Perhaps it is the fear of running out of money late in life when they need it the most.
What are your firm’s differentiating characteristics?
Investors have trouble identifying and selecting the best financial advisors. In general, this would require an objective process that enables investors to compare the credentials of multiple advisors. Their fall-back position is a subjective process that helps them select the financial advisors they like the best.
One way financial advisors can make the process easier for investors is to list key features on their websites that differentiate them from other advisors. Some key features for many RIAs include:
- Independence
- Boutique Size
- CFP, CIMA, CFA
- Financial Fiduciary
- Fee-Only
- Custodian
- Affiliated Professionals
- Asset Management (ETFs, Social, Passive, Active)
- Coordination (Planning, Investment, Risk, Tax)
Many financial advisors address this issue on their websites with a page that describes why investors should select them. They provide five compelling reasons that differentiate them from other financial advisors.
Keep in mind investors are not selecting advisors based on what they see on their websites. The information on the websites helps them determine who they want to interview.
READ: TOP 8 QUESTIONS EVERY FINANCIAL ADVISOR SHOULD BE ASKING ABOUT DIGITAL MARKETING
If you know it’s time for a more effective online presence, share your curiosities or setbacks with us. We specialize in digital marketing for financial advisors. Let’s see if we’re a good fit—not everyone is.
