Where Do Financial Advisors Get Clients From?

Mar 23, 2023 | Financial

Marketing Blog

To succeed as a financial advisor, you must continue connecting with and converting new prospects into clients. But that’s easier said than done. How do the top financial advisors reach new clients? The good news is that there are traditional and modern methods of financial advisor marketing that can help with prospecting, referrals, and networking. Without further adieu, here are some practical marketing ideas for financial advisors to get clients and how to implement them in your business.

Find More Qualified Leads

Are you ready to grow your financial business? While there are various methods for finding new clients as a financial advisor, some may work better than others, depending on your niche and target audience. In this post, we’ll explore some of the most effective ways to acquire new clients and grow your business.

Prospecting for Clients

Prospecting as a financial advisor involves actively seeking out potential clients through various methods. Have you tried any of these common methods to get new clients?

1.) Cold Calling

Just like it sounds, cold calling involves contacting potential clients via phone without any prior relationship or connection. While this method has been a traditional approach, its effectiveness can vary. It may not be the most efficient or suitable strategy for every financial advisor.

One of the main drawbacks of cold calling is the significant time and effort it requires. Financial advisors often spend hours dialing numbers and engaging in conversations with prospects. And there’s no guarantee of success. Furthermore, cold calling can be met with resistance from prospects. This can lead to low conversion rates and potentially damage the advisor’s reputation.

Moreover, in today’s digital age, consumers have more control over how they engage with businesses.  They are increasingly turning to online resources and platforms to research financial products and services. As such, cold calling may not align with the preferences and behaviors of modern consumers, making it less effective as a sole strategy for acquiring new clients.

2.) Financial Seminars

For nearly three decades, financial seminars have been crucial to the success of many financial advisors. Nothing is more effective than meeting with dozens of motivated prospects face-to-face.

Financial seminars provide a powerful opportunity to connect with potential clients in a face-to-face setting, allowing advisors to build trust, credibility, and rapport with attendees. By presenting valuable information, insights, and strategies, advisors can demonstrate their expertise and showcase the value they bring.

One of the key advantages of financial seminars is their ability to attract motivated prospects who are actively seeking guidance and solutions. Unlike other marketing methods that cast a wide net and target a broad audience, seminars allow advisors to connect with individuals specifically interested in the topics being discussed. The attendees are more likely to engage and take action.

3.) Direct Mail

Direct mail involves sending marketing materials, such as brochures, letters, or personalized invitations to events, to a list of potential clients. This approach can be expensive but can also be effective if done correctly.

One of the key benefits of direct mail is its tangible nature, which allows recipients to physically hold and interact with the marketing materials. Additionally, direct mail offers the opportunity for personalization, allowing advisors to tailor their messaging and offers to the interests and needs of recipients.

Furthermore, direct mail allows financial advisors to reach prospects who may not be actively engaged online. Or those who prefer more traditional forms of communication. By targeting specific demographics, geographic areas, or income levels, advisors can ensure that their message reaches the right audience and resonates with their target market.

4.) Email Marketing

Email marketing stands out as one of the most cost-effective forms of marketing available to financial advisors. Unlike traditional methods that can be costly and time-consuming, email marketing allows advisors to reach a large audience at a fraction of the cost. By sending promotional emails, advisors can leverage the power of direct communication to engage with prospects, nurture relationships, and drive conversions.

One of the key advantages of email marketing is its affordability. With minimal overhead costs and no printing or postage expenses, email campaigns offer a high return on investment (ROI) compared to other marketing channels. This makes it an ideal choice for financial advisors operating on a limited budget or looking to maximize their marketing dollars.

5.) Webinars

Much like traditional financial seminars, webinars serve as a powerful tool for financial advisors. Webinars showcase expertise, educate the audience, and build trust with potential clients. These online events create an interactive and informative environment where prospects can learn about the advisor’s business, investment strategies, and financial expertise. And all from the comfort of their own homes or offices. One of the key advantages of webinars is their ability to reach a broader audience without the constraints of geographical location or physical attendance.

One of the most compelling aspects of webinars is their flexibility and scalability. Unlike in-person seminars. webinars can be conducted virtually and run consistently alongside other marketing efforts. This means that advisors can host webinars on a regular basis, providing a continuous stream of valuable content and engagement opportunities for prospects.

Additionally, webinars can be recorded and repurposed as on-demand resources, allowing prospects to access the content at their convenience. This means 24/7 lead generation opportunities for your firm.

6.) Educational Workshops

Many of your prospects are looking for solutions to their problems and concerns. Educational workshops provide an invaluable opportunity for financial advisors to connect with potential clients. By showcasing their expertise, in-person events create a dynamic environment where advisors can engage with prospects, build trust, and demonstrate their value.

One of the key advantages of participating in educational workshops is the ability to establish credibility and authority in your niche. Consider sharing insights, strategies, and best practices on topics such as retirement planning, investment strategies, and wealth management. Educational workshops will help advisors position themselves as trusted advisors and go-to experts in their field. Moreover, by providing valuable information and actionable advice, advisors can demonstrate their commitment to helping clients achieve their financial goals and alleviate their concerns.

Don’t Forget Referral Strategies

Referrals stand out as one of the most powerful and reliable marketing ideas for financial advisors to acquire new clients. After all, what could be better than a recommendation from a satisfied client who has experienced the value of your services firsthand?

1.) Just Ask!

The simplest and most direct way to generate referrals is to ask your existing clients if they know anyone who could benefit from your services. This approach can be remarkably effective. Start by expressing gratitude for their trust in your services and then casually inquire if they have friends, family members, or colleagues who might benefit from similar financial guidance. Emphasize that you’re always looking to help more people achieve their financial goals and that their recommendations would be greatly appreciated. By demonstrating your commitment to helping others and providing exceptional service, you increase the likelihood that satisfied clients will happily refer you to their network.

2.) Referral Incentives

While asking for referrals can be effective on its own, offering a referral incentive can motivate clients to recommend your services. Consider offering a modest incentive, such as a discount on their next advisory fee or a gift card to a popular local restaurant, as a token of appreciation. However, it’s crucial to strike the right balance with incentives. You want to encourage referrals without giving the impression that you’re trying to buy them. Be transparent about the incentive program and ensure it aligns with your brand values and ethics. Ultimately, the goal is to reward clients for their loyalty and support while encouraging them to spread the word about your services to others who may benefit from your services.

Are You Ready to Convert More Prospects Into Clients?

Multichannel marketing gives you the best chance to connect with your prospects and convert them to being your clients. But where do you start? Partnering with LeadingResponse means you’ll get a dedicated account representative and personalized guidance from day one, access to our client portal, Hub, for the data you need to grow your business, and robust audience targeting to ensure the best prospects, every time.

Hone Your Networking Skills

Networking involves building relationships with individuals and organizations that can potentially refer new clients to you. Don’t mistake networking for the chance to promote yourself – networking is about helping one another, not selling.

1.) Industry Events

Attending industry events, such as conferences and trade shows, can be a highly effective strategy for businesses. Expand your network, generate leads, and stay updated on the latest trends and developments in your field. These events are a unique opportunity to connect with potential clients, referral sources, and industry peers in a face-to-face setting. Use them to build meaningful relationships and establish rapport with key stakeholders.

Networking is a cornerstone of industry events, providing attendees with the chance to meet and interact with a diverse range of professionals from across the industry. Ensure to actively engage in conversations, exchange contact information, and follow up with new connections after the event. You can cultivate valuable relationships that may lead to new business opportunities, partnerships, or referrals down the line.

2.) Professional Associations

Joining professional associations relevant to your niche can be incredibly beneficial for your business. These associations provide opportunities to network with other professionals, share insights, and build meaningful relationships that can lead to collaboration and referrals. By actively participating, you can connect with like-minded professionals who share your passion and are eager to support and promote each other’s businesses.

Moreover, professional associations often offer access to a wealth of industry resources and training opportunities. Stay informed about the latest trends, developments, and best practices in your field. These resources can provide valuable insights and knowledge, from webinars and workshops to industry publications and research reports. Stay involved to enhance your skills, expand your expertise, and stay ahead of the curve in an ever-evolving industry.

Online Marketing

Your future clients are online, and you should be too. Plus, digital marketing is a highly effective way to reach new clients and build your brand as a financial advisor. With an increasing number of consumers turning to the Internet to research products and services, a robust digital marketing strategy is more important than ever. Digital marketing offers financial advisors a highly effective way to reach new clients, build brand awareness, and establish credibility.

1.) Social Media

Social media marketing has become an indispensable tool for businesses looking to expand their reach and establish their brand presence online. Platforms like LinkedIn, Twitter, Instagram, and Facebook offer unique opportunities to connect with potential clients, engage your audience, and showcase your expertise. By leveraging these platforms effectively, you can not only reach a wider audience but also build your reputation as a thought leader in your industry.

Consistency is key when it comes to social media marketing. By establishing a regular posting schedule and sharing valuable content, you can build a loyal following of engaged followers who are interested in what you have to say. Moreover, actively engaging with your audience by responding to comments, answering questions, and participating in discussions can help you foster meaningful relationships and generate leads.

2.) Content Marketing

Creating and sharing valuable content, such as blog posts, videos, and infographics, can help establish you as an expert and attract potential clients to your website. Optimizing your content marketing for search engines can help increase your visibility and drive traffic to your site. By consistently delivering informative, engaging, and relevant content that addresses the needs and interests of your target audience, you not only position yourself as an authority in your industry but also build trust and credibility with potential clients. Moreover, valuable content serves as a powerful tool for educating your audience, addressing their pain points, and providing solutions to their problems.

3.) Search Engine Marketing

Search engine marketing (SEM), also known as pay-per-click advertising, offers a myriad of benefits for businesses looking to boost their online visibility and drive targeted traffic to their websites. One of the key advantages of SEM is its ability to deliver immediate results. Additionally, SEM provides precise targeting options, allowing businesses to reach users based on factors such as location, demographics, and search intent, ensuring that their ads are seen by the most relevant audience.

4.) Search Engine Optimization

Different from SEM, search engine optimization (SEO) is focused on organic traffic for your website. One of the primary benefits of SEO is its long-term effectiveness. Businesses can achieve higher rankings in search engine results pages by optimizing website content, improving site structure, and earning high-quality backlinks. Over time, this leads to sustained visibility and increased organic traffic. Additionally, SEO enhances user experience by ensuring that websites are user-friendly, fast-loading, and mobile-responsive.


Acquiring new clients is crucial for the growth and success of any financial advisory business. Financial advisors can effectively reach and acquire new clients by utilizing a combination of prospecting, referral strategies, networking, and financial advisor marketing. Experimenting with different methods to find what works best for your specific niche and target audience is important.

Are you ready to learn more about what marketing mix can help you find more qualified, motivated prospects? Schedule a free consultation with our expert team.

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