Mastering the Art of Digital Marketing: Key Strategies for Financial Advisors

Kyle Fleming – 04/27/2023

Mastering the Art of Digital Marketing: Key Strategies for Financial Advisors

As a financial advisor, marketing your service is crucial to the growth and success of your firm. In today's digital age, clients are looking for convenience and accessibility, which means that technology plays a vital role in delivering an excellent client experience. In addition, people today leverage technology to find all types of products and services, and those experiences shape their broad expectations. Now, when searching for financial advice, potential clients are no longer confined to their local areas. So why should it be any different for them to find your firm?

However, technology is a means to an end, not the solution itself. Too often, we see technical jargon used as a clumsy attempt to persuade a buyer that one approach or product is better than the rest. Employing technology is also not an “if I build it, they will come” strategy. Instead, a focus on outcomes is key.

SS&C’s Black Diamond® Wealth Platform employs modern technology to assist with developing and maintaining software. Therefore, a sales pitch based only on technical jargon may read:

“Black Diamond utilizes a customizable, continuous deployment process leveraging an agile development lifecycle built on a modern microservice architecture that employs Kubernetes as the containerization orchestrator in the cloud.”

This type of language makes sense to a limited market. It’s important to focus on what matters – the outcomes our technology strategy can deliver for our clients in the wealth management industry. Effective marketing drives a decision-maker to act, requires an understanding of the problems that need to be solved, and then communicates the solution rationally. Let us explore a few approaches firms can use to market to prospects and grow effectively.

  • Understand your target audience

    A crucial step to marketing is to understand your target audience. Who are your prospects, and what are their pain points? What challenges are they facing, and how can you help? A clear understanding of your target audience lets you tailor your marketing messages to your audience’s specific needs and preferences.

  • Develop a strong online presence

    As an advisory firm, you need a website that is easy to navigate, visually appealing, and thoroughly detailed. It should provide information about the services you offer and the team you employ. To further engage with your audience, you can post blogs to share your insights and expertise, as well as host social media accounts to further your reach.

  • Leverage video marketing

    Video marketing is a powerful tool that can help you highlight your services, educate your prospects, and build trust and credibility. Creating short videos lets you to explain the benefits you offer and how you can help your clients achieve their financial goals. Under the new SEC (Securities and Exchange Commission) marketing rule (206(4)-1), advisers may now include client testimonials and endorsements in their advertisements. However, you must adhere to disclosure, oversight, and compliance rules. For example, testimonials and endorsements must clearly and prominently disclose the speaker’s relationship to the adviser, the cash or noncash compensation provided by the adviser, and a description of any material conflicts of interest.

  • Host webinars

    Webinars are an effective way to market your firm, highlight your service, and, most importantly, answer the question of how you deliver results for your clients. You can also focus on specific topics, such as retirement planning, tax strategies, or investment management. In addition, you can invite industry experts to attract a larger audience. Finally, the recorded version of your webinar can be further promoted through your online presence and add them to your website.

  • Use email marketing

    Email marketing is a cost-effective way to stay in touch with your prospects and clients; it’s a great way to share updates about your services, technology solutions, upcoming webinars, and other meaningful events. You can also use email to share educational content, such as whitepapers or ebooks, highlighting your expertise and knowledge. In addition, many technology platforms are available to help scale email marketing campaigns.

Marketing is not solely promoting your expertise. It is also delivering excellent client experiences. A positive experience with your firm makes clients more likely to refer their friends and family. Ensure that your team is trained to provide an exceptional experience and that your digital solutions are easy to use and reliable.

To learn how the SS&C Black Diamond Wealth Platform can support your unique advisory firm, request your personal demo, call 1-800-727-0605, or email