Go Beyond for an Extraordinary Financial Advisor Client Service Model

Sep 5, 2022 | Financial

Marketing Blog

The goal of every financial advisor is to connect with and convert more clients. And what better way to do that than to reach consumers on topics and concepts they value and are interested in? The problem is… there could be a misunderstanding between what clients want and what advisors think clients want. So how can consultants get on the same page as their clients and create an extraordinary financial advisor client service model? One that ensures results and helps win over more clients? By focusing on client needs and designing a coordinating marketing plan for financial advisors.

And this approach works! Research shows exceptional client experiences increase AUM, client acquisition, and customer retention. Client building, at its core, is about exceeding expectations and creating the ideal financial advisor client service model. How do you do that? Let’s dig in!

Step One: Know What Your Clients Want

This one is simple, you think. I’ve worked with clients for years; I know what they want. But do you? A report from Morningstar clarified some of the disconnects between what financial advisors think consumers value and what consumers actually value.

Infographic of what is important to clients

Of course, all clients are unique with their own set of concerns. But understanding how your consumers view your services and what they are concerned about can help you create a financial advisor client service model that more directly connects with their values.

Step Two: Identify your Ideal Clients

Let’s open your book of business and determine who your ideal consumers are. Consider what sets these ideal consumers apart from the rest. What similarities do they have? And more importantly, how can you exceed their expectations? Consider what you might not be doing now that could benefit these top clients.

Another tried and true method to determine your target audience as a financial advisor is to build out buyer personas. This is the marketing technique where you create the ideal client, including demographics, goals, common objections, life challenges, income, values, and other characteristics.

You can even go one step further and create a negative buyer persona. That would represent someone exclusionary – someone you don’t want as a client. That could be someone with more assets than you can reasonably manage, a client whose expectations don’t match reality, or someone too young to benefit from your services.

Step Three: Establish Niche Expertise

Once you know your ideal audience, let’s go one step further. What niche service or opportunity can you offer these ideal consumers to exceed their expectations and build upon your financial advisor client service model?

Take each of your buyer personas individually and ask the following questions:

  • What does this person need?
  • How can you attract this person?
  • How can you repel this person?
  • How can you exceed this person’s expectations?

This list should help you determine critical areas where you can stand apart from your competition. Now, build on that expertise through educational opportunities, certifications, testimonials, and surveys.

Next, and crucially, you need to market that expertise! Successful marketing for financial advisors can take many forms, including financial seminars, webinars, social media marketing, one-on-one appointments, digital advertising, television, and more.

Get the Results You Deserve

Attract the clients you want and deserve! Our simple, 11-step guide will give you tangible marketing solutions you can implement today to strengthen and grow your financial consulting business.

Step Four: Address Every Touchpoint

Improving your financial advisor client service model means including your client at every touchpoint. Your relationship with them begins with your first interaction – whether that’s an in-person meeting, a social media ad they viewed, or the news article they read about your recent event. Marketing for financial advisors should fit seamlessly into your business and delight existing clients. Let’s see how we can do this.

  • Build a plan together: Come together around the client’s goals and values. What are they looking for in this relationship? What drew them to your business? Focus on collaborating with them on their goals and challenges. While you have the expertise, you must cultivate trust and shared values. Listen to what they share and build your plan around their expectations.
  • Innovate – never automate: Financial solutions are never one-size-fits-all. Your client expects to be treated as individuals with their own goals and plans. Help your customers through their life challenges by ensuring that financial planning is an ongoing, collaborative process. As life changes, so should their plans. It will be essential to recalibrate strategies and adjust priorities as the years go by.

Rise above the competition

Are you ready to take your financial advisor client service model to the next level? Exceeding clients’ expectations is easier when you have LeadingResponse at your side. We offer successful marketing for financial advisors, allowing you to connect with more qualified and motivated prospects. Why choose LeadingResponse? The answer is, why wouldn’t you?

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