Independent financial advisors, like all entrepreneurs, can’t grow their businesses if no one knows about them.
In order to attract new clients, and reinforce the value they provide for existing clients, advisors need to take the time to brand themselves in their local communities, in order to capitalize on their knowledge, insight and experience. Establishing a personal brand requires an ongoing effort to remain a relevant local — and even regional — voice on wealth management and other financial matters.
Some advisors may feel uncomfortable with the idea of “becoming a celebrity.” But raising your professional profile in your marketplace doesn’t involve being featured on TMZ or the front pages of supermarket tabloids. It only involves making yourself someone who community members associate with valuable, insightful financial advice and guidance.
Below are several tips for establishing and building a brand as a respected financial professional:
1. Launch a regular financial program on TV, radio and/or social media: When people see someone speaking confidently in the media, that person’s credibility generally receives an instant boost. To begin positioning themselves as the go-to local advisor on financial and money matters, advisors can host weekly or monthly shows on TV or radio stations within their markets. Half-hour or hour-long programs discussing financial planning, saving for retirement, investing practices, tax reform, and a variety of other topics related to finance and wealth management are ideal platforms for advisors to present themselves as experienced financial authorities to a broad audience in their marketplaces. Furthermore, if you post these programs to social media, you can expand your audience and even attract attention from financial journalists at regional and national outlets.
If an advisor aligns with a wealth management platform specializing in helping independent RIAs grow, that platform may have a creative team with contacts that can facilitate a local TV or radio program. Advisors can also take the initiative to start and promote their own weekly or monthly podcast discussing financial planning and wealth management issues.
2. Support local community initiatives and sports teams: Independent advisors serve a vital role in helping individuals and families in their communities pursue their long-term financial and personal goals. To reinforce the value they provide, advisors need to demonstrate to existing and prospective clients that they have strong ties to their communities.
As local business owners, advisors can proactively contribute by serving on boards of local organizations. By sharing your expertise in this manner, you are opening yourself up to a wide variety of referral opportunities and showing your clients and prospects you are committed to the community you serve.