What Financial Advisors Can Do To Secure and Retain Clients

The greatest intergenerational wealth transfer in American history is already underway. Over the next 20 years, younger generations will inherit an estimated $30 trillion in wealth. This is an unprecedented opportunity for financial advisors. But it also presents serious risks.

Why? Many of today’s financial advisors face the challenge of losing their most valuable clients. The heirs from Generation X, Millennials, and Gen Z don’t always want to keep their parents’ advisors. Instead, studies show most heirs prefer to choose their own financial professionals or explore alternative money management options.

If you want to protect your client base and grow your practice during this shift, now is the time to create and embrace a strong financial advisor marketing plan. This plan must be tailored to meet the needs of today’s multigenerational market.

Why a Financial Planning Marketing Plan Is Essential Today

As a financial advisor, you have likely spent years building trust and strong relationships with your clients. These connections are valuable and have taken time to develop. But the wealth transfer is about more than just passing down assets. It’s about maintaining trust across generations.

Younger heirs have different financial values, communication styles, and technology preferences. Without a strategic marketing approach, you risk losing clients to other advisors who connect better with these younger generations.

A well-designed marketing plan for financial advisors helps you in several key ways:

• Engage younger clients early
• Maintain relationships across family generations
• Expand your reach to new prospects who are ready to invest
• Adapt to changing client behaviors and technology trends

Taking a proactive approach to marketing is not optional anymore. It’s essential for survival and growth.

​

5 Key Strategies for a Winning Financial Advisor Marketing Plan

Here are five actionable strategies every financial advisor should include to successfully navigate the multigenerational wealth transfer and thrive in the evolving marketplace.

1) Engage Your Client’s Children Early and Often

You are not just advising one generation, you are advising a family legacy. The best way to protect your relationships is by building trust with the next generation before the wealth actually transfers.

Start young. Encourage your clients to talk openly about money with their children, even teenagers. Early exposure to financial topics builds comfort and understanding. When young adults hear about money management from an early age, they grow more confident and informed.

Include adult children. Invite younger family members to meetings or offer separate consultations to introduce yourself and your services. For example, if your client has college-aged children, invite them to a webinar or informal session about budgeting, investing, or student loans. This opens doors to building personal trust.

Act as a facilitator. You can serve as a neutral party who clarifies financial concepts, moderates family discussions, and provides recommendations. Family money conversations can be tense, especially when large sums or differing opinions are involved. Your role as an objective expert can ease tensions and create productive dialogue.

Only about 35% of financial advisors proactively address these multigenerational conversations. By being among the few who do, you can set yourself apart and deepen client loyalty. You show that you care about the whole family, not just the current client.

Example:
One advisor shared that involving the client’s adult children early made the younger generation feel respected and informed. When the parents passed on the wealth, the children were ready to continue working with the same advisor because of the established relationship. This approach prevented the family from switching advisors.

2) Help Clients Be Transparent About Family Wealth

Many parents don’t share full financial details with their children. This lack of transparency can cause confusion and missed opportunities during wealth transfer.

Encourage your clients to openly discuss estate plans, trusts, and inheritance expectations with their heirs. Open communication creates a sense of trust and reduces surprises or misunderstandings later on.

You can also offer education about complex topics like incentive trusts or staged fund disbursements. These strategies allow heirs to receive funds over time or upon reaching certain milestones, which can ease anxieties about sudden wealth and help children manage inheritance wisely.

Early transparency benefits everyone:

• It builds trust between generations
• It increases the likelihood that heirs will keep you as their advisor
• It preserves your client relationships for many years to come

Example:
A financial advisor worked with a family to set up an incentive trust that released funds only when the heirs met education or career goals. This gave the parents peace of mind and motivated the heirs. Because the advisor guided the family through this plan, the heirs stayed loyal to the same advisor.

3) Market to Younger Generations on Their Terms

The heirs of inherited wealth are digital natives. They grew up with smartphones and social media. They prefer communication and financial services that feel modern, authentic, and accessible.

Your financial advisor marketing plan should reflect this. Simply relying on traditional mailers or phone calls won’t reach these younger prospects effectively.

Here’s how to connect with younger clients:

• Active social media presence: Engage on platforms like Instagram, LinkedIn, and TikTok. Share relevant, authentic content about money, investing, lifestyle, and financial planning. Use videos, stories, and posts that speak their language.
• Events tailored to younger clients: Host webinars, workshops, and Q&A sessions on topics they care about. These might include paying off student loans, buying a first home, budgeting for a wedding, or sustainable investing. Younger clients appreciate interactive, educational formats.
• Educational content: Provide easy-to-understand articles, videos, and guides that demystify financial planning. Avoid jargon and focus on real-life examples. This builds trust and confidence in your expertise.

Attracting younger clients early positions you as their trusted advisor for decades. Many financial advisors miss this chance by focusing only on their existing older clients.

Example:
One advisor hosts monthly webinars specifically for Millennials on budgeting and paying off debt. These events draw prospects who then book individual consultations. This strategy has helped the advisor build a younger client base alongside traditional clients.

4) Source New Financial Services Clients with Proven Marketing Solutions

Growing your practice means consistently reaching the right audience at the right time. A diverse, multichannel marketing plan works best for this.

Consider these tactics:

• Direct Mail Marketing: Personalized postcards and letters put your message directly in prospects’ hands. This helps cut through the digital noise of emails and social media.
• Webinars: Virtual educational sessions allow you to build trust and showcase your expertise anywhere. You can reach prospects who may never attend in-person events.
• Financial Seminars: These face-to-face meetings remain powerful for educating and engaging local prospects.
• Educational Workshops: Workshops offer a deeper dive into complex topics. They position you as a thought leader and create high-value connections.
• One-on-One Appointments: Personal consultations remain the most effective way to close business. Make sure you are connecting with qualified prospects ready to meet.
• Multichannel Marketing: Combining these approaches reaches consumers wherever they prefer. This strategy maximizes your impact and fills your pipeline with high-quality leads.

Using just one channel limits your potential. A well-rounded marketing plan covers multiple touchpoints.

5) Outsource Your Financial Advisor Marketing to Scale Faster

Developing and executing an effective marketing plan takes time and expertise. It requires knowledge of digital tools, consumer behavior, and lead generation best practices.

LeadingResponse specializes in creating tailored, multichannel marketing solutions for financial advisors. We deliver qualified leads and appointments directly to your calendar, so you can focus on what matters most: building relationships and closing business.

Our consultants engage more than 1.9 million consumers annually. Through our work, financial advisors have generated over $117 billion in revenue.

Partnering with LeadingResponse means you get:

• Access to proven marketing strategies designed for your business
• Expertise in multichannel lead generation and appointment setting
• Consistent pipeline growth and ROI tracking

Why wait? Start growing your financial advisory business today with a trusted marketing partner.

Final Thoughts

The multigenerational wealth transfer poses both risks and opportunities. A proactive financial advisor marketing plan focused on engaging younger generations, fostering family trust, and expanding your reach is essential to thrive in this evolving market.

By acting now, you can retain your current clients’ heirs and acquire new high-value clients. This approach ensures your business grows and remains strong for decades to come.