Become an Authority: Establishing Your Financial Planning Career

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Did you know that in the last year there were 308,937 financial planners practicing in the United States? That much competition makes it hard to stand out amongst the crowd. The industry is getting hit with a flood of advisers, including robo-advisers, so the competition isn’t going anywhere. Set up your business for long-term success, so you can continue to dominate and stand out from the crowd.

To make yourself known in the financial planning world, it’s essential to follow these all-too-important tips, ranging from managing client relationships to your marketing strategy.

1.) Gain Clients’ Trust
One of the most important aspects of your business should naturally be the clients, but there are several ways to improve the quality of your relationship with those valuable customers.

While you can be a financial planner to any potential client base, it’s important to find a target niche. Whether the niche is dentists, entrepreneurs, doctors—you name it—developing a niche and dominating it makes you become the expert in the field. Fine tuning your client base allows you to provide solutions for a specific group of people and customize plans to their needs.

When a client comes to you for financial planning advice, they already have a mission and their own goals. You need to make it your objective to find out what these expectations are and exceed them. Your planning advice needs to be correlated in line with theirs and if you fail to make the connection between their goals, the client will walk away from your services for good.

Building trust within your client base is one of the most crucial aspects to running your business. As a financial planner, you need to act in the best interest of your clients 100 percent of the time because you are dealing with a customer’s private material. Putting yourself in your client’s shoes will no doubt help you make better decisions for them, but it will also make the client appreciate your personalized approach.

2.) Have Patience
Patience is a virtue, but not everyone has it, especially when you’re thrown into the hectic life of a financial planner. When you’re meeting with a client, though, it’s best to put your restlessness oh hold and make your clients feel like they have all the time in the world. Then you can truly listen to what they’re saying so you can get all of the pieces to the puzzle while giving the best financial advice possible.

Utilizing customer relationship management tools could be helpful. Programs such as Salesforce, Pipedrive and Marketing 360, among many others, help you remember important details about each and every one of your clients. By simply remembering a birthday or a major life event, a client will feel like you are truly listening to them and they will feel more at ease when you’re meeting to talk about personal details. Keeping up with the latest software developments for your profession will not only help you offer great service, but will also allow you to track your ROI for each client and help you easily distinguish between effective and ineffective marketing campaigns.

3.) Educate Yourself, Put Yourself Out There 
Obviously, existing clients will always be the heartbeat of your business, but reeling in new clients is essential to keep that pulse pumping. To attract new clients you need to validate your professional expertise, meaning you should be constantly putting out fresh content through speaking at events, writing articles or blogs and sharing other industry experts’ content through social media.

David Molnar, a managing director at HighTower San Diego financial services firm, stated in an August 9, 2016 Investopedia story, “The more often you are seen at various events and networking functions, the more you will be viewed as an expert by others.”

One of the best ways to put yourself out there and stand out from the competition is to become the authority in your field. By definition, Authority Marketing™ is a strategic process of systematically positioning a person or organization as the leader and expert in their industry, community or marketplace to command outsize influence over all competitors. Essentially, it drives new leads, expands your profit and creates fame for yourself and your business.

This process is built on seven pillars that you need to succeed: branding and omnipresence, content marketing, public relations and media, lead generation, referral marketing and speaking. Educating yourself on each of these can open the door for a whole new prosperous world for your business.

Standing out from the competition involves developing a trusting relationship with clients, being patient, and implementing Authority Marketing strategies. Following these essential tips will not only develop yourself as a professional but will also launch your business’ profile to stand out from the competition.

For more information on how you can stand out from the competition, request your complimentary copy of Adam Witty’s new book Lead The Field. To request your no-cost copy, click here.

emily-fisherEmily Fisher
Marketing Copywriter
Advantage Media
Charleston, S.C.

One thought on “Become an Authority: Establishing Your Financial Planning Career

  1. Thank you for mentioning our technology Marketing 360. Anyone that needs a free trial let us know we would love to help you.

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