Ep #4: Marketing in The Financial Advisory World

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Hi, Lauren, Welcome. Thanks so much for being on the Advisor Summit. We're so excited to have you and just can't wait to learn from you. I just. This is one that's really exciting for me because I feel like every time we talk, I learn something new. Marketing is also just fun. I think. I think it's the fun division. I'm sorry I have to say it. And it's. Hopefully you agree, but it really is the fun division. So thanks for. Thanks for coming on here.

Oh, my gosh. Thanks for having me, Molly. It's good to be here.

Yeah. I feel like most people do. I mean, you're very well known in this industry, but for those that don't know you, can you share a little bit about your journey into the marketing industry and kind of what led you to specialize in really, the financial advisory practice space? Yeah, I know you do more, but I feel like we do a lot.

Yeah, but it's all good. So. My personal background is in graphic design, so I've always grown up. My mother is a. She had a small business as an artist. My dad was a journalist growing up. So I always grew up in a very creative household. Went on to get my undergrad in graphic design. And when I got this business going, probably like a lot of businesses. Right. I didn't totally know where we were going to focus or land. And we happened to get an RA client. We did a great job. And I was like, there's something here. And I was like. I was like, okay. You think of, like, finance or what have you is like, okay from a. Like a graphic designer's point of view. You were like, okay, it's like black, gray, white. Yeah. You know, like just like cut and dry kind of thing.

Maybe.

I was like. But part of, I think, you know, learning from that experience and as they talk to more people. Right. It's such a human business. And so I saw it as a really fun creative challenge. I always love challenges, like jumping in the deep end and like, let's figure it out. And I. That's kind of where it just. It Just caught fire from there. I did a great job. And then it kind of, you know, one thing led to another. And so you fast forward to today and we're, you know, 12 years in business and we have built our team, our systems, our own like knowledge base and connections all within the financial services space and most deeply within the wealth management, on the retail side of things space as well.

That's amazing. I think it is a huge challenge because it's like really, this sounds horrible, but so many people think financial advising and it's boring. Agreed. Like it's just like it's something you should do, but you really want to. And I think you get the opportunity to make it fun, make it, make people excited about it, you know, within that visual space. So that's amazing. You're. I also love that you are always up for a challenge. I admire that about you.

So I'm like, bring it on in our, you know, yeah, we attract those.

Types of people when you, it really is from a top down perspective, you know, you kind of attract those types of styles. But what are some challenges that financial advisors face when it comes to marketing? Is there some kind of big picture overall challenges that you find? You're like, there's a million, so maybe top, top three.

I think when I talk with advisors, it's different than sometimes what you hear on the outside. When I talk with advisors, I often hear stuff like we're not marketers, we don't know what to do, you know, or you know, we don't have the time for this. Or we need someone to help guide us, like tell us what to do, help show us that light, like, what are other people doing right. Y and sort of like not knowing. But then also like it can become, once you get into it, just like any art of anything, right. Like you're like, oh, wow, this is like pretty deep. And I think once people get into it and they realize the amount of time and the complexity, that's really where we're able to kind of like come in, you know, to support. So that's what I hear when I talk with advisors. But on the outside, I think before they even get to us. Right. I think some of the challenges are there's a lot of message in the messages in this world that are like, you know, you can build a website in three minutes, you know, sort of like in a box kind of thing.

Like this expectation of becomes a commodity. Yeah, yeah, yeah. And it's not a blueprint and it's not one size fits all, you know. Where it just. Yeah. Add it to your cart and go ahead and check out. It's not that way.

And there is a time and a place for some of that. But I think a lot of the firms that we're working with, a lot of business we're working with, are, you know, we were just talking about this before we hit record.

Right.

You go for one mountain and you're like, I'm gonna climb that next mountain. And it's not the same path. Right. And there's. There's different.

It's.

It's turmoil. It's turbulent in different ways. And so that's where we can really come in to help level up.

Yeah, yeah. And I'm sure, too, I mean, you've talked about also, like, 12 years in business, you've seen it evolve, You've seen it change. It's very different than it was 12 years ago. And for someone, like, just entering the marketing space, that can be daunting. They don't know, you know, they've seen this maybe in the past, and now they're ready for it, and they don'.

Know.

So what are some.

Also.

What are some, you know, changes that you have seen over the years? Is there any big, big items that stick out to you?

Oh, my gosh. Well, the whole Robo Advisor trend was a whole trend. It was really scary for some time, especially for a lot of the bigger firms.

Yeah.

You know, and what does that mean? Obviously, AI is into the conversation right now and how that's being operationalized and used. You know, Kitsis for a while has talked about target markets and the importance of that, and I don't necessarily see that as a trend. I see that as something that's very rooted in foundation, like. Just like the foundation of marketing. But that's something that I've. I've heard get louder and lighter, louder and the importance of that, and I think especially how firms stand out and where they put their effort and energy. I also think that, like, from more of a trend perspective, I feel like I see more and more firms comfortable in their own skin. Skin, meaning I don't have to fit in this kind of box of whatever Wall street is telling me to be, but becoming more human. And I think not only themselves becoming more human as individuals and putting that out there, but even their processes and expanding their service offerings as well.

So I love that. Yeah. And I mean, it is such. It's not a saturated market by any means, but you do have to find ways to differentiate yourself and really be your own person. And I do find that people can sense falsehood. So if you're you, especially in marketing, if you're saying one thing and then they meet you and it's totally not a fit, then that's a very misleading thing, especially when it comes to financial advising with money. They're trusting you with their money. They're not. This is not just a quick transaction. It's a huge deal. So what are some ways that you find financial advisors are able to differentiate themselves in a crowded market?

Yeah, well, target market is one of them. Right. Sometimes it's. Yeah, it's knowing a target market and then not being afraid to really, like, put that out there, who they're working with, how their operations support that audience. Their content marketing also supports that and educating that audience. Just like, give an example. If you work with physicians, like putting that out there loud and clear on your website, your photography, your dropdowns on your menu, you know, you have might have like webinars or blog content or you're really talking to that individual. So people go, ah, you know me. You know, you're, you know who I am in my situation. Yes, I, I see that. I also still feel like relationships run really deep. And I see that with, you know, M and A has been a huge trend over, you know, if you look in the last five years or so. And I feel like a lot of that isn't just identifying a target market where you go, oh, you know, I work with physicians and you work with physicians. We might be a fit. But there's a level beyond that which is like the right culture fit. So I think that part of differentiating yourself is also just not to play on words, but you got to get out and about. You've got to get out there.

Yeah.

Like, you've got to talk to other colleagues, right?

Yes.

Yeah, I think really. And again, that kind of goes back to being comfortable in your own skin is that's part of like the right fit. And if you're kind of pointing out that energy for the right either firm, if you're looking to be acquired, or if you're leaning out the right energy to bring in the right prospects, part of, you know, I think that that helps to differentiate versus kind of being. Being closed up. So.

Yep, yep. And it's, I mean, it really starts too with like a digital. I feel like maybe it starts more with the digital footprint because what is the first thing anyone does? They go look you up online. Like, whether you're having, you know, reviews or anything of that nature, they want to Know who you are in some. In some aspects. So when we talk about, you know, content marketing, what type of content is it? That. What type of content performs best on, like, the digital side, you know, is it. What would you say is, like, the top things that people need to have in play before they really go for it in their practice?

Oh, my gosh. And Molly, I love to see your guys's data and what it says.

Yes, Seriously.

Okay, so I'll say, like, brilliant at the basics. Right. A website says, okay, we're in business.

A.

Like, if You've got a LinkedIn company page, you know, just getting that set up and you know, your logo on there and about us section, Google has a free Google my business page. So someone ordered a Google in your business, it's going to show up there on the sidebar. So making sure that you register for that. Oh, gosh, those, you know, to say logo, you might have like a key piece of collateral that you're using. That's just kind of like a leaf behind. Yeah, but just kind of. I think getting some of those just basics in place are like, especially, you know, this conversation happens a lot if we have got like a breakaway firm that we're working with. They're like, okay, what do I actually need to just, like, at a basic level get into place? And then when you actually start to kind of get your basic level in place and then you invest in really building out your brand, then we actually start to look at like, the content channels and then we start to look at performance against that. So that's a tricky question to answer across the board because everyone's target is likely a little bit different or what they're trying to go after, but depending on that, Like, I feel like webinars is always a good one because it kind of hits like all levels of the funnel. Sometimes in person, seminars can be great for certain audiences as well, if you've got folks that have the flexibility in their time. LinkedIn is always a channel that we encourage within this space just because of the nature of that. That platform. So, yeah, it's. That's a little tricky.

Yeah. Everybody is so different. And I think too, just having your branding and your identity so set is so important and we utilize your team for. For that to help us because we just kind of had all of these bits and pieces and didn't really have a cohesive branding plan. And I cannot tell you how many times we've gone back to refer to the brand book, to go back to the guidelines. It's Just your. You guys all do such amazing things and it's like, man, we just need that. And I think for firms, know your audience, know who you're servicing, and then use out and about communications to really level in and dial in on your branding because that's your identity, that's really who you are to, you know, your prospect initially, how you look, how you present yourself, that's important and it's. It is really key, especially digitally. It's. It's very effective. So I know you touched base on LinkedIn a bit. Is there any other social media marketing that you feel like is advantageous for financial advisors? I know Facebook ads was a big thing for a while. Have you seen that still in play at all? Or is it not as much on Facebook ads?

I.

YouTube, I think, is a channel that advisors should really consider, at least in this moment of time. You know, it helps to humanize the brand and be able to do more videos so people get a feel of kind of who you are and what you're about, how you talk, all of that. And those videos don't have to be like a super buttoned up kind of feel. Sometimes there's a place for that, but other times, I mean, honestly, just a recording on Zoom and you can put a nice intro and outro on it with a little bit of editing. Yeah. It gets the job done. Right. There's a balance with that, depending on the brand.

Yeah. I think so many people. It's daunting. Right. You know, to video yourself. And it really doesn't have to be that.

That.

Yep.

You know, it's. People just want to kind of know, you know, the brand. It can be very simple. Like you said for YouTube, it doesn't have to be this huge production, you know, or cost hundreds of thousands of. Of dollars, so. That's right. Do you see any emerging, like marketing trends future wise? I know AI is really coming into play now. I mean, it's. It's been around. I'm a little slow to the game. I have trust issues with AI. But we've started utilizing it and it's amazing. It's really amazing. Incredible. I'm fascinated. Fascinated by it.

Yeah. So it's kind of funny because when you look at trends and you look at what's happening, you can't ignore AI and you should be using it. I think one of the challenges though is that it automates it.

Right.

It makes it quicker, which is a time and place for that. But I think as a trend, I would say leaning into the human side of the wealth management experience more and more. Sure, you can create, you can, you know, have AI send a thousand emails to prospects and somewhat personalize them, but there comes a place where it just feels overly automated and this isn't an overly automated business. And so there's a really delicate balance. Yeah, And I think I'd say that. And then I'd also say that there's an opportunity in this space for firms to just further lean into their target and lean into their unique positioning for how they speak to that target and how they can support them as well. Which is like a kind of pie in the sky thing to say.

Right.

That can really be brought down into much more. As you were talking about earlier. Right. Like your, your branding and your messaging and your, your positioning and all these sorts of things. But I think as we get more into this kind of mass automated world, I think that the more we can not forget ourselves as humans and the human, human business, I feel like that is, is really key.

Yeah. And I think we'll see leaders emerge with that. You know, don't utilize AI for everything because like you said, it is a very human to human business and people want to feel seen and like heard versus just having a robot email you. That's not fun for them.

We all get all that. We've been all getting that for a while. I'm like, there's another one.

Yes. And you can tell. I mean, I think even as much as AI is incredible, you can tell. I see it especially on LinkedIn. I'm like, you guys, this. I can tell you use the. I like, yes, there's a time and place for it, but it doesn't feel like you and it's coming. You know, it just. I have mixed feelings on AI, but in general, but.

And that's a way, that's an opportunity for advisors though, because you can utilize those platforms, but if you're really tailored to specific audience and you're really offering them something of value, it shapes the, it shapes the conversation in a different way. So that's. Those are some of, I think, just like the here and now trends that I'm seeing.

Yeah, yeah. What advice would you give for financial advisors that are looking to improve their marketing in 2025? And I know it's kind of a difficult question because some might be, you know, much more advanced or. So let's kind of narrow it down to like a new advisor that's kind of just taking off and wants to begin the marketing journey. Like where should they begin?

Solo advisor or an Advisor within a firm.

Ah, let's do solo advisor.

Okay. For a solo advisor, usually the advice that I give is because there's so much noise out there, from a marketing perspective, you've got to have the perfect website. You should be on social media, you should have drip campaigns. You need to have a whole operational onboarding, yada, yada yada. Just focus on one thing and yeah, lean into that and make it work. And usually, frankly, for that audience, taking really good care of their clients and nurturing their centers of influence. And even better if you can zero in.

Yeah.

On a specific age demographic or target. But don't try to do everything under the sun because you are going to get major shiny object syndrome and you're probably going to be pulled away from taking really good care of your clients. And if you really like doing all the other stuff, then maybe it's a cue to you to say, should I actually be more on the op side versus on the, you know, advisory side? Like, where am I? Where do I fit in?

Right.

So I would just say for a solo firm, like, don't try to do everything and try to do one thing really well. And once you've got that down, then you can layer on something else.

I think that's so freeing for advisors to hear. I think that's just freeing because you, you do. Especially when you go to conferences, you, you know, talk to your friends and other advisors and it's like, well, this really worked great for me and this really worked great for me. But it's not you. You're a very different. It could be a different demographic you're serving. It could be a totally different feel or a different target market. So it's. Yeah, I love that. Just don't listen to the noise. And it's great for anyone, really. I feel like that's such pertinent information and advice for all of us. Like, don't, don't listen to what everybody else is doing. You know, like, focus on what your goals are in the long run because your goals might be totally different. So true.

And at that stage, you just really need to focus on taking care of people and the rest will really come from there.

Yes.

So, yeah.

Yeah, I love it. Well, final question. Our last classic question is, where are you trucking this year? Personally or professionally? What is your big goal or fun, fun ticket item that you're wanting to do this year?

Oh, my goodness. I'm like, where do we start? Because I feel like we're kind of at the start of the new year still Kind of.

Yeah, it was yesterday. I'm like, wait. I just wanna.

Yeah.

Like, accomplish our goals. Oh, my gosh.

We have so many amazing operational initiatives that are going on here for us, which is super fun. Our whole team is like, all hands on deck of just. We've already got great systems and processes, but just more formalizing those, I'm sure for folks that are listening, you know, you get to a place where you've really scaled and tightened and you're going. And then you start to bring on more people and so you. You build that out more. So I'd say that is. That is what we're all working on right now. And it's cool because then it's starting to give us transparency about other opportunities or manpower to fill or things of that sort. So. Yeah.

Yeah. Just getting organized. That's exciting. Well, we're rooting for you and everybody at out and About Communications. Big fan of your team and you always. So thank you so much for coming on and sharing your wisdom. We appreciate it.

Of course. So fun. Thanks for having me.

Of course. Bye.