Ask any financial advisor about their most valuable asset, and every single one would probably tell you—it’s trust.

    But according to recent data issued by the CFA Institute, some advisors may be struggling in this area.

    In their latest Trust Report, the CFA Institute says only 59% of retail investors feel their advisor is the most trusted source of investment advice. And only 25% of institutional investors believe their investment firm always puts their interests first.

    Establishing Trust in a Skeptical, Virtual World

    People today have been conditioned to question their sources of information. In many ways, this is a good thing; in others, it may not be so good. People need to think critically about the information they consume, but they also need to recognize trustworthy guidance when they see it. Either way, trust in these sources can only be established over time if their information is deemed by the recipient to be true.

    In today’s virtual world, this requires a solid handle on digital marketing.

    If you’re using your website, email, and other digital channels to communicate with clients and prospects, you’re already involved in at least some aspect of digital marketing. But is it enough? 

    If you’re like most advisors, probably not. In fact, the latest J.D. Power’s research shows that advisors need to evolve and develop their digital communication options. Younger investors (under 40) actually prefer communicating through digital channels and have ramped up their digital activity because of the availability of mobile options.

    Digital Marketing Helps Advisors Regain Control

    Digital marketing doesn’t come naturally to many financial advisors. Financial advisors understand that the primary focus of their business is people—not wrangling with digital technologies.

    While digital marketing does require you to embrace new skills and technologies, if it’s done right, you’ll discover how easy it is to demonstrate your value without leaving your home. You can build trust through a computer screen. This means that when global events disrupt the industry, when clients' wants and needs rapidly evolve, when new technology forces everyone to change how they work, you can still assert control over the future of your business.

    The first step is creating a marketing plan that includes digital marketing activities. If you’re among the majority of advisors we’ve recently spoken with, you don’t have one. If you do have one, you likely haven’t implemented it. 

    Building a Marketing Plan

    It is both critical and challenging, now more than ever, to build trust with your clients. How does having a marketing plan help build trust? It ensures that content marketing—email, blogging, podcasting, public relations, and contributed articles—are infused into your communications strategy. By communicating your expertise, you’re not only generating brand awareness—you’re also establishing all-important credibility.

    Combine that with all the other particulars you communicate about yourself and your business (such as your passions and inspirations) and all the ways you interact with clients and prospects, and you’ll be well on your way toward building the trust that keeps your investors and business growing. 

    Keep in mind that what works for some advisors doesn't always work for others. You may be a great writer but not the strongest of public speakers. This may make you a compelling blogger but an uninspiring podcaster. If the activity doesn’t work for you, don’t waste your time on it. Instead, embrace the activities you enjoy, and the style that works for you. People will sense that the information you convey is coming from a place that’s caring, knowledgeable, and trustworthy.

    When it comes to actually crafting a marketing plan, you can start by reviewing some of our resources. Read through our Build Your Simple, Smart Marketing Plan guide and use our 12-month marketing calendar to put your marketing plan into action.

    When it comes to building a prospect communication strategy, you might find valuable information in our blog post, Busting 3 Myths about Financial Advisor Client Communication. If a lack of time is what’s holding you back from expanding your marketing efforts, check out 5 Tips to Grow Your Practice When You’re Feeling Overwhelmed.



    AssetMark is a leading provider of extensive wealth management and technology solutions that help financial advisors meet the ever-changing needs of their clients and businesses.

    June 16, 2021

    Why the Client Experience Should Be Your Top Priority

    Fundamentally, financial advisors are “people” people. You’re in the business of guiding your clients’ financial lives, protecting their futures, and helping them...
    June 9, 2021

    7 Key Questions to Ask When Evaluating a Turnkey Asset Management Platform

    Maybe you find yourself providing services to clients that veer outside of your core specialization; maybe the list of things that you’d like to accomplish if only you had...
    May 26, 2021

    Fee-Aware Clients: What Financial Advisors Need to Keep in Mind

    Financial advisors that have worked in the industry for a long time may have noticed a slow but steady change over the years: Their clients have become a lot savvier about...

    Sign Up For Our Blog

    Subscribe to get updates on new content.