How Much Should Advisors Spend on Marketing?

By setting a deliberate marketing budget, you can better track expenses, evaluate results, and grow your firm. Here's how to get started.

How much do you plan to spend on your firm’s marketing in 2017? What percentage of total revenue does that number represent? If you’re like many advisors, you don’t have a planned marketing budget and aren’t sure if you’re spending too much or too little. By setting a deliberate budget toward your marketing plan, you can better track expenses, evaluate results, and grow your firm. How Much Do Financial Advisors …

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Embracing The PESO Model for Marketing Success (Part 4)

Financial advisors who share highly relevant content with their social media networks enhance their brand, boost credibility, and attract new clients.

The PESO Model (paid, earned, shared and owned) is a great way to “bucket” out any marketing plan. In my last installment, we discussed “earned” media, such as being quoted in an article, having a piece you wrote published in a newspaper, appearing on a television or radio show, or being featured in the press in some other way. We’ve also already discussed the “paid” category, also known as advertising. Paid …

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How to Create an Outstanding Online Presence

Want to learn how to create an incredible online presence as an advisor? GuideVine CEO Raghav Sharma discusses what is necessary to succeed.

Raghav Sharma on Creating an Outstanding Online Presence. This originally appeared on the Becoming Referable podcast by Stephen Wershing and Julie Littlechild, and can be found here.   Steve Wershing: Welcome to Becoming Referable, the podcast that shows you how to become the kind of advisor your clients want to tell other people about. I’m Steve Wershing. On this episode, we will be talking with Raghav Sharma, who is President of GuideVine, …

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Do You Have Referral Partners You Can Count On?

Most financial advisors understand the importance of strong referral partners. In fact, in a 2014 study, the Financial Planning Association identified center of influence referrals as the top tactic successful advisors use to grow their business. But how can advisors know whether they are making the most of their referral partners? How many referral partners should financial advisors seek? And how often should they expect referrals from their top center …

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How to Protect Your Advisory Firm From Growing Cyber Threats

You may have heard that FINRA recently fined a dozen financial advisory firms over $14 million for cybersecurity failures. Advisors from Wells Fargo, LPL Financial, and RBC were ordered to pay penalties for improper protection of customers’ sensitive data. In fact, in early 2016, FINRA announced that it plans to increase its focus on cybersecurity to protect investors in the future.

You may have heard that FINRA recently fined a dozen financial advisory firms over $14 million for cybersecurity failures. Advisors from Wells Fargo, LPL Financial, and RBC were ordered to pay penalties for improper protection of customers’ sensitive data. In fact, in early 2016, FINRA announced that it plans to increase its focus on cybersecurity to protect investors in the future. And FINRA fines aren’t the only penalty for insufficient …

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LinkedIn, Facebook, and Twitter Ads: What’s the Best ROI?

It's clear that advisors should be advertising on LinkedIn, Facebook, and Twitter to reach more prospects, but which is best?

Facebook is the third most visited website in the world, with U.S. Facebook users spending 40 minutes per day on the platform — almost as much time as they spending eating and drinking. LinkedIn and Twitter are not far behind, with more than half of U.S. professionals actively using LinkedIn. With so much time spent on the “big three” social media platforms, it makes sense for advisors to advertise to prospects …

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Embracing The PESO Model for Marketing Success (Part 3)

Advisors should add a healthy dose of “earned media” to their marketing plan in order to impress the right people and earn share of mind.

The PESO Model (paid, earned, shared and owned) is a great way to “bucket” out any marketing plan. If you missed the previous articles in the series, The Digital Reality for Financial Advisors and Embracing The PESO Model for Marketing Success (Part 2), read those pieces now before continuing on. This installment will focus on “earned” strategies, also known as public relations, media relations and/or credibility marketing. SOMETHING TO TALK ABOUT There’s …

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What Does Your Branding Communicate About Your Firm?

If your photo was in the dictionary, which word would it be next to? That's your personal branding.

How important is branding in your buying decisions? The last time you purchased a car, did you select your choice based on fuel economy, insurance costs, and price? Or did you buy your car based on how it made you feel? Our personal brand is no different; it’s based on the emotional response we elicit in our clients and prospects. For all products, including smartphones and automobiles, people buy personality, …

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How Can Your RIA Firm Benefit from the Repeal of the DOL Rule?

If you're a fiduciary advisor, now is the time to take advantage of the publicity created by the DOL Rule. Find out how to use the rule to your benefit now.

If you’re like most advisors, you’ve been preparing for the Department of Labor (DOL) fiduciary rule to take effect this April. However, on February 3rd, Donald Trump issued a memorandum that will push back implementation of the DOL rule by six months, and could kill the rule completely. His order instructed the department of labor to carry out an economic analysis of the rule’s impact before further action will be …

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Five Centers of Influence Advisors Need to Meet

How can you grow your referral sources in a sustainable way without bugging your clients? Try partnering with Centers of Influence, or COIs.

As an advisor, you likely understand the importance of referrals for building your business. But trying to increase the number of referrals you get each year can feel more like hounding your clients to share your information with their friends and family. What’s more, most advisors have about 100 clients, which limits the number of referrals they can receive in any given year. How can you grow your referral sources in …

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