January 30, 2023  

 Creative Guerrilla Marketing strategies for financial advisors in 2023

Guerrilla Marketing for Financial Advisors to be different in 2023

As a financial advisor are you using the same tactics and strategies for marketing the same as most other advisors? Are you using the same best practices tactics and tools as every other financial advisor to grow your business? If you want the same results as last year, then do the same thing. If you want to move upmarket and do things differently you have to start thinking differently. This is where guerilla marketing comes in.  Investing Time energy and imagination into growing your practice as a financial advisor this year. Here are a few ideas that are different than the typical marketing that you read every day online.

Convert Ideal clients into ideal families

One group of advisors did exactly that. They invited a lawyer who is a great speaker on how to have a family discussion to a workshop along with three of their top families. The financial advisors only had the parents as clients yet they asked the parents to invite their children so they can understand what a family meeting looks like and how to have a family meeting. Most financial advisors have never had a family meeting so it's also valuable to the financial advisor. It was difficult to get all three families together but the people that came got tremendous value out of it and some of the children, who were aged 50 to 60 found tremendous value and had a chance to meet their parents' financial advisors who provides tremendous value. The financial advisor ended up having several conversations with the parents and the children and added some children as clients. An ideal client may have $2 million and each child may have $1,000,000 so an ideal family could double the assets or revenue and you go from a $2 million client to a $4 million family. Imagine if you converted your top ten clients into ideal families this year.

Guerilla marketing in action

I wrote version one and version two of Guerrilla Marketing for Financial Advisors (  https://amzn.to/3we8QzV  Guerrilla Marketing for Financial Advisors: Transforming Financial Professionals through Practice Management Morgan James Publishing New York, The Guerrilla Marketing series has sold over 21 million copies worldwide )  

Innovation is about trying something you've never done and possibly failing over and over until you get it right. Financial advisors need to innovate and do things they've never done before. this financial advisor decided to invest the time and not knowing exactly how to deliver this idea they tried it out. Now, this is their formula for the rest of the year to get a majority of their clients through family conversations. Investing time energy and imagination to grow your business.

A spin on working with COI’s centres of influence

Every financial advisor tries to build relationships with a center of influence. This includes accountants lawyers, realtors,  mortgage brokers general insurance agents commercial mortgage commercial insurance commercial realtors, and more. I encourage financial advisors to build their own network of professionals, and I have a process to help them build that. One adviser decided to do things a little differently. they had a core network of professionals and then they built a niche group of network professionals. Their niche was working with medical professionals. they decided to build a network of professionals that focus on that niche. They had practice management experts for dentists, medical salespeople, and consultants for financial professionals evaluation companies that focus on medical professionals. Their niche network took their marketing to a whole other level. This financial advisor had a core network professionals of 10 or more and a niche network of professionals of 10 or more. With their niche network, they created a mastermind group where they all learn from each other and grew their businesses together. There are a lot of amazing details that will be the subject of a future blog. This adviser chose to do things differently and invested time energy and imagination into growing their practice.

Thinking creatively

If you would like to learn about more creative strategies click here to download my e-book   https://freepracticemanagementbook.getresponsepages.com/  Find out why the guerilla marketing series has sold over 21 million copies worldwide. Block two hours of your time in your calendar weekly to invest time energy and imagination into growing your practice.

How about your goals for your practice in 2023?

Our Practice management resources - Comprehensive Practice Management checklist

https://practicemanagement.getresponsepages.com/

Sample: Comprehensive Financial Advisor Practice Management benchmarking report

Key data and KPI's, over 30 Key Performance indicators. Do want a sample benchmarking report to help you understand how to get the edge on your practice and your competition? 

 https://benchmark.getresponsepages.com/ 

Updated 2023 Technology Checklist for Financial Advisors  

This checklist is five years' worth of research on the best processes elite financial advisors and their teams implement to acquire and service ideal clients while running an efficient practice.   https://technology-checklist.getresponsepages.com/ 

We are here to serve your practice, let’s talk

Contact us to help get clarity around your goals on paper, and have the goals conversation by contacting Grant at grant@ghicks.com or click on the link to set up a no-obligation 20-minute discussion https://my.timetrade.com/book/JMTNJ regardless if we work together, let’s have a chat and listen to your biggest practice management concerns to help you get clarity around your future business.

Grant Hicks, CIM, is President of Advisor Practice Management and co-author of “Guerrilla Marketing For Financial Advisors” 1st and 2nd editions. www.advisorpracticemanagement.com for speaking, workshops, or coaching, contact Grant at grant@ghicks.com  Grants combined financial advisor clients manage over 5 billion AUM, and earn over $50 million dollars combined! 

Enthusiastically yours,

Grant Hicks, CIM, President
Advisor Practice Management
www.advisorpracticemanagement.com

PO Box 382 Lantzville BC V0R 2H0
Cell 403 970 8895
Email grant@ghicks.com  to book a meeting click here https://my.timetrade.com/book/JMTNJ  

PS Where do you want your financial practice to be at the end of 2025? AUM, Revenue, and time off? 

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