Close Close

Financial Planning > Behavioral Finance

7 deadly financial advisor marketing sins exposed, Pt. 1

Your article was successfully shared with the contacts you provided.

In this series of articles, I’m going to address the seven deadly financial advisor marketing sins that continue to cost advisors like you tons of money. 

These marketing sins pertain to all marketing channels, not just digital marketing. However, a majority of them pertain to Internet marketing, merely because I have found that to be the future of marketing in this industry. 

Finally, the great news is that all of these can be corrected quickly. The big question is, will you make the changes and implement them where needed? 

Here are the seven deadly financial advisor marketing sins of 2014: 


1. No call to action on your sales and marketing material 

The biggest sin that I continue to see on financial advisors’ sales and marketing material is in the call to action (CTA) department. More particularly, not having a legit and solid call to action on all of your sales and marketing material. 

Let me first show you some examples of non-working calls to action that I see on so many financial advisor websites.

  • “Click here for your free consultation.”- Might as well tell them to come into the lion’s den so they can get sold something. Are you really shocked that no random website visitor takes action on these? 
  • “Call now to book a time to come in.” – Ditto from above. My guard goes up just typing this. 
  • “Sign up for our newsletter.” – Why? What is the benefit? Why should I care about your newsletter? I get enough email as it is.

So, what does a good call to action look like? 

To begin, it needs to:

  • add value,
  • be incredibly clear how the call to action will improve their life,
  • improve their finances,
  • make their life easier.

If you can remember these simple things when crafting your calls to action, you will see massive conversions compared to the other non-working examples above.


Always talk about the benefits (not the features).

For instance, here is an example of a feature/benefit play on the annuity front.  If I wrote in one of my sales or marketing messages that my favorite annuity comes with “annual reset,” most consumers would glance over this feature. However, if I said my favorite annuity comes with the ability to lock in your gains every year, that you can never lose a penny, and that in down years, you can “reset” your S&P 500 value and work your way up without having to make up the losses like your friends in the market, then I have painted quite a different story here.  So always talk in terms of benefits! 

Next is to always educate and give before you ask your prospect to take action.

In the old days, the mantra was: “Ask and ye shall receive.” But today, that phrase has shifted to, “Give and ye shall receive.”  Now, I will be the first to admit that the old days of asking someone to come in for a free consultation worked. Why? Well, 20 years ago, financial advisors were the only method to get any kind of information on financial matters. There was no Internet, there was no up-to-date book on investing that could be found readily available in places like the library, and there wasn’t a live stock ticker on hundreds of thousands of websites. 

But today, free information and financial education is rampant. In fact, a consumer can learn pretty much anything they wanted to about investing, annuities, life insurance and finance for free on the Internet if they want to.  The good news is that I have found that most of your ideal clients and prospects don’t want to do it themselves. However, they also don’t want to be sold or to feel like they are caught off guard. There have been too many Ponzi schemes and scams perpetrated on retirees, seniors and boomers that could frighten anyone into not taking action. 

So, what is the solution? 

What your ideal prospects want is assurance that you are an expert and an authority, that you can save them money and time, and that they can trust you. 

Which one of the following screams trust, and which one screams I want you to come in so I can see if you have any money so I can sell you something?

  • Option 1 – Click here to instantly receive your free e-book, “The 7 Must Know Facts About Estate Planning For Baby Boomers With $1 Million Or More Net Worth”
  • Option 2 – Click here to book a free consultation with me … trust me, I don’t bite … hard.

Now don’t misread this to think that asking for an appointment or a “free consultation” is always wrong, because that is far from the case. 

A consultation or phone appointment can be a great call to action after someone sits through your seminar, or for a prospect that is further into your lead funnel. The huge difference is that after they have come to your seminar or seen loads of your great content, they have received value from you. And after receiving tons of great value, you have earned the right to ask for larger calls to action like an appointment. 

But just coming to your website and reading an article doesn’t create enough value (or authority) for 99 percent of visitors to want to book an appointment. So always add an appropriate and benefit-rich call to action! 

In part two of this series, I’ll explore the next three deadly marketing sins I see advisors making every day.

See also:

9 ways to unleash the power of social media in insurance

The 10 steps insurers need to take (today) to remain relevant

This is not a buying signal