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Financial Planning > Behavioral Finance

Psst, advisors! Your 'secret' marketing opportunity

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Psst, can you keep a secret? If so, you may be one of the few people left who can. An advisor who can lock down a client’s data, both hard and soft), is an advisor who can be trusted. Because trusted advisors are what prospects are seeking, confidentiality should become a core element of any advisor’s marketing campaign.

Forthright Financial Planning owner Jenny Migdal, CFP, made privacy one of her main website menu items. When clients click on it, here’s what they see: “The reason we value confidentiality is that financial and life planning is a deeply personal encounter. In order to facilitate open and honest communication, you need to know that your choices, your decision-making process and your future plans are kept confidential.” She then goes on to assure clients that she’ll never disclose their working relationship to friends and family.

So how do you leverage your confidentiality policy to advance your business? Here are a few points to consider.

  • Make sure you have such a policy. And not just legal boilerplate, but a strong statement of belief, a la Migdal.
  • Be sure you can deliver on your policy. This means having written procedures in place for locking down your practice.
  • Create a privacy-driven staff culture. Give rewards for appropriate behavior. Stress that your firm will live and die by how well it protects client privacy.
  • Move confidentiality “above the fold” in your marketing program. Highlight it your brochure, website and seminars, and make it a talking point during all client meetings.

Psst! Don’t tell anybody, but this is a great marketing opportunity. Go with it!