This blog will address the major disconnect between investors and financial advisor websites. The foundation of the disconnect is the information investors expect to find on financial advisor websites and what many financial advisors choose to publish on their websites.
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How big is the disconnect issue? 100% of financial advisors have websites that are the front end of their digital marketing efforts. 18% are satisfied with the results that are produced by their websites.
This is a big disconnect. After more than two decades of providing digital marketing services to financial advisors, we can honestly say we have not seen one website that delivers all of the information investors seek when they screen and compare advisors on the Internet.
Why is this disconnect happening, and how can you improve the productivity of your financial advisor website? You must make your website content more compelling so investors can learn more about your firm and compare it to others.
As the old saying goes, if the shoe fits…………
What Investors Want vs. What Advisors Provide (The Big Picture)
Examples of information that knowledgeable investors want:
- Basic information to facilitate comparisons between firms
- Transparent pricing, services, investment philosophy, and client experiences.
- Evidence of expertise: Degrees, designations, experience, memberships.
- Case studies that describe success working with investors like themselves.
- Disclosure for the firm that has physical possessions of its assets.
- The credentials of the professional(s) who make investment decisions (in-house or outsourced).
What advisors provide:
- Flowery content that delivers generic-sounding sales messages
- Limited details on fees, services, and investment processes.
- Excessive focus on company history rather than how firms help clients achieve their goals.
- Unclear or absent calls to action make it more difficult for website visitors to take the next step.
The rational investor:
Let’s use an example of a small RIA in a major city with one professional who attempts to convince visitors this person is an expert in all five increasingly complex financial disciplines: planning, investing, insurance, tax, and legal. Most investors will see this as a deceptive sales claim. Any potential credibility and trust will disappear, and the investor will exit the financial advisor’s website with the click of a mouse.
In this case, the investor is right. No one professional can be an expert in all of the financial disciplines. The advisor should describe how the firm addresses the need for different “coordinated” types of advice that impact their assets.
This firm will have trouble marketing itself online, which could result in low engagement rates and lost opportunities for investors and advisors.
Pricing & Fees
The most sensitive online topic for many financial advisors is pricing. Very few publish their fee schedules on their websites unless they believe the schedule creates a competitive advantage. A higher percentage, particularly fee-only advisors, are willing to describe how they are compensated, but not how much.
Why financial advisors withhold this information on their websites:
- "Fees depend on the client’s service requirements and asset amounts."
- "Revealing layers of fees upfront may scare off potential clients before they can explain their value proposition."
- "They prefer to discuss fees in person to provide context and justify what they charge for their knowledge, advice, and services."
Why investors want this information:
- Investors don’t want to waste time contacting advisors they can’t afford—for example, they may not meet the advisor’s minimum asset requirement.
- Transparency builds trust and eliminates the fear of hidden fees.
- They use the information to compare the costs of multiple advisory firms.
Financial Fiduciaries
Every fee-only financial advisor will describe their firms as financial fiduciaries on their investment advisor websites. 100% reference putting the financial interests of their clients first. Approximately 50% will reference the avoidance of potential conflicts of interest in their messaging.
Why financial advisors withhold this information on their websites:
- They would like investors to believe there are no potential conflicts of interest.
- Investors must ask the right questions to get the information they seek.
- The firm is owned by a bank or insurance company that promotes proprietary products even though they are inferior and more expensive.
Why investors want this information:
- It impacts the trustworthiness of financial advisors.
- It reduces their exposure to potential conflicts of interest.
- They can pay a fee for the advisor’s knowledge, advice, and services.
Minimum Asset Requirements
Another decision impacting visitor engagement is whether or not to disclose your minimum asset requirement on your financial advisor website.
Following are three reasons why you may withhold this information from websites:
- They don’t want to turn away prospects who might not meet a minimum but could still be valuable clients.
- AUM minimums are flexible depending on other factors, such as referrals, contributions, income, or potential future wealth.
- They don’t want to discourage engagement from younger investors or those who may receive substantial inheritances.
Why investors want this information:
- It avoids the frustration of reaching out only to be turned away.
- It helps them find advisors that match their financial profile.
- Many advisors have negotiable minimums.
What We Do
Investors would like to know about your firm’s services. While this “What We Do” information is a common feature, it can confuse investors who are comparing multiple financial advisors before they contact them.
Why financial advisors withhold this information on their websites:
- They tailor services to each client, so listing them might oversimplify their offerings.
- Some services depend on a client’s level of assets or engagement.
- They prefer to discuss services in person to highlight what is most relevant to the prospect.
Why investors want the information:
- It helps them determine if the advisor meets their needs before contacting them.
- Provides clarity on whether an advisor specializes in areas like estate planning, tax strategies, or business succession.
- Just like selecting doctors, they may prefer working with a specialist.
Track Record
Because you more than likely don’t have a track record, investors don’t know that or why. Mutual funds and separate account managers have them, so why not the advisors who recommend them? This is sensitive information that some financial advisors may manipulate.
Why you may withhold this information on your website:
- A third party is making the investment decisions.
- Audited, GIPS-compliant track records are expensive.
- All of their clients differ in age, goals, and risk tolerances.
Why investors want the information:
- They want proof of the advisor’s ability to deliver results
- It makes it easier to compare financial advisors to each other.
- It creates expectations for their net returns in the future.
Custodians
Because you don’t physically possess your client’s assets, there’s a case that you should disclose this information on your website.
Why financial advisors withhold this information on their websites:
- Investors are confused by the need for these services.
- They may be using the services of a smaller, lesser-known firm.
- The custodian introduces another layer of fees and other expenses.
Why investors want the information:
- It helps them determine the safekeeping of their assets.
- Provides additional protection from fraud.
- There is increased regulatory oversight and compliance.
Investment Decision Makers
Many financial advisors outsource investment decision-making to third parties, such as SAMs, ETFs, and mutual funds. They may also hire a part-time OCIO (Outsourced Chief Investment Officer) to manage assets for their clients.
Why financial advisors withhold this information on their websites:
- They want to be perceived as the investment manager.
- The information may create a competitive disadvantage.
- There is the potential for another layer of fees.
Why investors want the information:
- To help them understand how it impacts the investment process.
- Because they want access to this professional or firm.
- They want to review the credentials of the decision-maker.
Investment Philosophy & Strategies
This is important information, particularly for investors who have had bad experiences with their previous financial advisors. For example, they had an aggressive, active, small-cap money manager, and they are seeking a passive manager that diversifies investments in multiple ETFs.
Why financial advisors withhold this information on their websites:
- They don’t want to reveal too much to their competitors.
- Their approach is complex and requires more explanation than a website summary.
- Investment management services depend on the client’s unique circumstances.
Why investors want the information:
- It helps investors gauge alignment with their investment beliefs, needs, and concerns.
- The strategy varies based on their unique circumstances.
- The philosophy and strategy is based on their tolerance for risk.
Team Credentials
Investors will pay substantial fees for the financial advisor’s knowledge, advice, and services. Many investors are willing to pay even more to those firms that provide teams of financial professionals under one roof.
Why financial advisors withhold this information on their websites:
- What if there is no team? But, there is a founder or president.
- Firm marketing is about the brand and not individual professionals.
- Financial professionals operate in a highly regulated industry where every public statement can be scrutinized for compliance by the SEC, FINRA, or state regulators.
Why investors want the information:
- They want to know who they’re trusting with their money.
- Teams have more depth.
- They would rather rely on a team than a professional.
Third-Party Service Providers
Financial advisors rely on third parties to round out their service offerings. These value-added services may include planning software, performance reporting, newsletters, and other services covered by their wrap fees.
Why financial advisors withhold this information on their websites:
- They appear more sophisticated if investors believe the advisor produces all of the services.
- They do not want to confuse investors with too many names or service providers.
- They operate with a “don’t ask, don’t tell” policy.
Why investors want the information:
- It makes smaller financial advisors more competitive against bigger firms.
- Knowing the service providers helps build credibility and trust.
- There may be a need to communicate with the third parties.
Potential Conflicts of Interest
The potential for conflicts of interest is rampant in the financial service industry. Even fiduciaries have the potential for conflicts that could damage their clients. That’s why the best financial advisor websites have a Code page that describes how they treat clients.
Why financial advisors withhold this information on their websites:
- This information may create additional legal exposure.
- They do not want to acknowledge that fiduciary advisors can still have potential conflicts of interest.
- They may benefit financially.
Why investors want the information:
- It helps them identify potential conflicts of interest before they select financial advisors.
- Differentiates fiduciary, fee-only, and commission-based advisors.
- It helps them determine who is practicing transparency and who is withholding information.
Specialized Service Providers
Many investors are seeking advisors who specialize in working with clients like themselves. For example, the investor is selling a small business to a third party and plans to retire. The investor may seek a financial advisor who specializes in working with owners selling small businesses.
Why financial advisors withhold this information on their websites:
- They want to work with a wide variety of clients..
- They don’t want to alienate any potential clients.
- Their professionals determine the types of clients.
Why investors want the information:
- It helps them select advisors who understand their financial situations (e.g., physicians, business owners, retirees).
- They don’t hire a brain surgeon for a knee replacement.
- Many investors believe specialists deliver better results.
Online Scheduling
Making it too easy for investors to initiate contact with financial advisors on their websites may not be in the advisors’ best interests. For example, a financial advisor with a million-dollar minimum does not want to be contacted by investors with less than that available for investment.
Why do firms withhold this information on their websites for financial advisors:
- They prefer to pre-screen investors before setting up meetings.
- They don’t want to be overwhelmed with unqualified leads.
- It’s better to control the first interaction rather than allow online scheduling.
Why investors want the information:
- Allows for immediate action instead of playing email or phone tag.
- It makes the advisor seem more approachable and responsive.
- It speeds up the comparison process.
Final Thoughts
When advisors withhold key information, they assume investors will reach out for clarification. However, most investors don’t engage when important information is missing—they simply move on to a more transparent advisor.
Investors frequently resent financial advisors who make them ask the right questions. They are more comfortable with advisors who provide voluntary disclosure.
Financial advisors who proactively provide this information position themselves as trustworthy, investor-friendly, and transparent, which can improve their website conversion rates.
