How To Grow Your Client Base As a Financial Advisor

Finding new clients is the biggest pain point for most financial advisors. They're not always sure what to do and they're generally too busy working with their current client base to be able to reach out and find new clients. If you want to learn how to grow your client base as a financial advisor, then this article is for you. So how do financial advisors find clients? In this article, we'll detail how to get new clients as a financial advisor, removing the painful problem of not having enough clients. It's time to get serious about finding and nurturing new leads.


How To Grow Your Client Base As a Financial Advisor

How do financial advisors get clients?

Being a financial advisor is not easy. Whether you’re new to the field or have been in it for years, getting access to prospects and building your business requires hard work and dedication. The good news is that there are many strategies you can use to market yourself as an expert in your field and get more clients. In this section, we will cover three integral marketing strategies so that you can learn how to get clients as a financial advisor.

1. Define Your Target Audience

When thinking about how to grow your client base as a financial advisor, the most important first step is to define your target audience and understand their pain points. Marketing your brand to the right target audience is crucial to maximising your marketing and branding efforts. Your goal as a business owner is to find out what will motivate leads and turn them into loyal customers. One way you can do this is by targeting people who have the same pain points as your existing clients, this will help you relate to them. You're also more likely to be able to match their needs with what your business has on offer since you have already helped other clients with similar problems.

2. Build Brand Awareness and Trust

Many advisors don't know how to create a compelling brand and an engaging website. However, people are more likely to do business with financial service companies they know, like and trust. Having a professional website is one way you can build these relationships and increase trust with potential customers. It also helps you build your brand awareness as prospects will find you online when they're searching for an advisor who fits their needs. We specialise in working with financial advisors across Australia to create compelling brands and engaging websites that work well on all major devices and help them generate new customers and grow their practice by attracting leads.

3. Don’t Compromise on Price

As a financial advisor, you’re likely concerned about the type of client that you are attracting. If you want to learn how to grow your client base as a financial advisor and achieve long term growth, then you need to understand the value you are proving to customers. If your business is suffering from slow growth or stagnant revenue, it could be because you have not been able to generate enough high-quality clients at an affordable price point.


While there are many ways to increase client acquisition and retention rates, one of the most effective methods is by offering low fees on investment advice and management services. However, this strategy can raise some concerns for many advisors who don’t want to sacrifice their income potential in order to win more business.


In order to get ahead, you need to focus on how you can provide better value for clients by going above and beyond what they expect from their financial advisor. By clearly identifying how you’re helping clients achieve their long-term goals, price shopping will become more difficult to quantify and less of a comparison between you and your competitors. The key is highlighting the ways in which your firm goes above and beyond typical financial services and achieves greater long-term value for clients.


4. Understand The Importance Of Lead Generation

Lead generation is the process of drawing in potential customers to your financial advisor business. Your lead generation strategy should focus on tactics that will bring prospects into your business through marketing efforts like a blog or social media. Cold calling and community involvement are also viable lead generation tactics, but they require a lot more time to be invested in order to achieve the same results as digital marketing strategies such as financial SEO. The key to an efficient lead generation strategy is to create trust by providing valuable information so that prospects see you as an authority in the industry that can help them, instead of just trying to make a sale.


How do financial advisors find clients?

Financial advisors play a key role in the lives of many Australians. Whether you are newly established or have been working for financial firms for years, you may be wondering how to find clients as a financial advisor? Focusing your marketing efforts is one of many tactics that you can utilise as an advisor, to grow your client base. We recommend focussing on the following two tactics to find potential clients and develop better relationships with them.

1. Focus on a Niche

Although many financial advisory firms offer a wide variety of services to their customers, it means they are directly competing with every other firm in the market. Focusing on a specific niche allows you to target your marketing efforts by serving a specific audience and tailoring your services to their needs. This is a vital principle to understanding how to grow your client base as a financial advisor.


The benefits of specialising your services are endless. Not only can you more easily differentiate yourself from other financial service companies, but you will also increase customer loyalty, attract more customers and could even charge higher fees.


The best way to market to your niche is to identify key aspects of their life and spending habits. Age, gender, profession, salary and financial goals are all key factors to understand when creating a marketing strategy for a niche. The more you know about your target audience, the more you can target your content and services to provide value to them, helping them with their needs.


2. Leverage your website through Search Engine Optimisation (SEO)

Your financial website is the digital face of your financial services business, the foundation of your digital marketing efforts - but it’s not enough to just have an engaging website. In order to generate leads, you need to ensure that potential clients can find your website. Unfortunately, SEO isn’t easy and it takes experience and time to see results. Successful financial SEO requires regular website optimisation and content updates, such as creating value for your target audience through blog articles. However, a successful SEO campaign will increase your online visibility and attract potential clients to your website. If you don’t have the time or knowledge to work on your SEO we recommend partnering with an expert who has experience working specifically in the financial services sector, like Capital Design. At Capital Design, we specialise in helping financial service companies grow their visibility through search engines by creating website content that ranks high for relevant keywords so potential clients will find them when they search Google.


How Do Financial Advisors Find Clients

How do financial advisors grow their client base?

Great financial advisors understand that deepening their relationships and trust with existing clients is one of the best methods to attract new clients. However, in order to achieve long term growth, financial advisors also need to invest in marketing such as a website, so that when prospects search for your business they are able to find you online and understand how you can help them. In order to understand how to get new clients as a financial advisor, you also need to understand the following principles:

1. Build Meaningful Customer Relationships

You might still be wondering, how does a financial advisor find clients. Creating a good marketing strategy is only half the battle, you still need to provide great customer service. If you want to learn how to grow your client base as a financial advisor then understanding how to build meaningful customer relationships is vital. As a financial advisor, you are responsible for delivering the best possible service to your clients, understanding what motivates them and what their pain points are. Great customer service means listening to your client's needs and doing everything you can to deliver on those needs. Clients don't stick with you for nothing, so make sure you're exceeding their expectations, then they'll be more likely to refer your services to others.


2. Work On Increasing Referrals

In order to stand out from the competition, financial advisors should proactively seek word of mouth referrals and develop their relationships with new clients. By doing so, they can stand out from competitors, deepen client loyalty and have long term success. When it comes to drumming up new business, most firms simply wait around for new clients to come knocking on their door. As time goes on, this reactive strategy typically leads to other financial service companies competing over your customer base - something you never want happening in the first place!


When you go above and beyond expectations, your clients are more likely to become brand ambassadors for your business and provide unsolicited introductions. People trust word of mouth referrals from friends and family, as they know these people better than they know anyone else, which means that a referral can be one of the most powerful ways to build your client base.


3. Create Strategic Partnerships

One of the most effective ways to grow your client base as a financial advisor is by creating strategic partnerships with other professionals who have complementary skills and experiences. When creating a strategic alliance it’s important to partner with organisations and influencers whose audience could benefit from your service offering, but aren’t direct competitors. Strategic partnerships with like-minded professionals generate new leads for your business and creates mutual value for your and your partner’s audience, enabling you both to achieve success.



Financial advisors who want to grow their client base need to be more than just great at managing money. They also need to apply the strategies outlined in this post, all of which need to be supported by an engaging website that speaks to their target audience. That's why we started Capital Design - to help financial advisors connect with their target audience through compelling brands, bespoke websites and results-driven digital marketing strategies that create genuine connections with potential clients. If you would like to grow your client base then get in touch to book a free, no-commitment consultation or phone us on 0432 412 024.

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CAPITAL DESIGN

At Capital Design, we exclusively help financial service companies create compelling brands, bespoke websites and results-driven digital marketing strategies. Founded by Toby McDowell, Capital Design has a wealth of knowledge working with established and emerging financial firms. Our clients consist of financial advisors, financial planners, asset & wealth management firms, investment firms, and other financial service firms. If you are interested in reaching more customers, we’d love to talk to you.

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