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Marketing—your hedge against the future, part 3

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Right now, for many RIAs, life is good. The market is at a record high and investors are jumping back in. For many firms, the challenge has shifted from how to market and increase revenue to how to recruit and attract talent to service all this new business. Too often, I see firms pull back on their marketing when capacity becomes an issue.

While rapid and unintentional growth of your business can be just as harmful as unintentional shrinkage, you shouldn’t ignore marketing in favor or handling new business. Getting your marketing flywheel spinning takes a lot of momentum—you don’t want to have to start from scratch when new clients aren’t so abundant. Even if you don’t have the capacity to take on new clients, here is one more marketing strategy you must not neglect:

Developing an emergency plan. Today, the markets are strong, the economy is growing and recent international and national political news has had only short-term repercussions on the economy. But if 2008 taught us anything, it’s that we must be ever ready. While you may hope you never have to use it, start developing your emergency marketing kit so that you can be prepared in the event of a catastrophe.

What you should be doing now:

  • Developing systems to be able to communicate quickly with your clients and contacts. This means keeping your CRM up to date with contact information and implementing technology such as mass email marketing or video conference call systems. The key is to be able to address your clients, prospects and COIs within 24 hours of an incident.
  • Developing communication templates for clients, prospects and COIs to be able to address bad news quickly and provide reassurance. Your templates should be adaptable to different situations, such as natural disasters, terrorist attacks, market crashes, political unrest, rapid inflation or the outbreak of war, just to name a few.
  • Develop articles or presentations you can use to educate clients about the negative ramifications of investing based on emotion and fear. These materials should remind clients of the importance of following the long-term investment strategy you have established together.

Consistently implementing a solid financial plan and investment strategy in spite of fear, greed or other emotions yields the best long-term results for your clients. In the same way, implementing a consistent marketing strategy year after year will yield the best long-term results for your business.

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Kristen Luke is the principal of Wealth Management Marketing, a firm dedicated to providing marketing strategies and support for registered investment advisory firms. For more information, visit


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