Significant growth for a service-based business built on relationships usually comes from a singular source — new clients. Behind every successful wealth management firm is a winning strategy to attract clients. Marketing is part art and part science; top financial advisors know they must invest time and energy into lead generation.
However, what worked a few years ago might not work in 2025. This means advisors must adapt to the times and look to outbound methods to grow their book of business. We’ve rounded up a list of tips to help you generate quality leads that can translate to a more profitable year.
Tip #1: Network Your Way to Leads
Relationships are the currency of any client acquisition strategy. Industry conferences and events can offer inroads to connect with like-minded individuals. Here you can exchange insights, pass referrals, and stay current on industry trends.
Many advisors find value in creating referral programs to incentivize aligned professionals. You might start by reaching out to CPAs and estate attorneys to establish credibility and trust. When the time comes for them to refer their client to an advisor, they’ll be more inclined to drop your name. Just remember that it’s important to uphold your end of the bargain, too. No one wants to do business with someone who doesn’t pay it forward when possible.
Tip #2: Use Tech to Connect
Technology can open doors that other channels might not unlock. For instance, email drip campaigns can nurture potential clients over time. By communicating your firm’s value, you build a relationship with your audience and make the case that you’re the go-to choice when the time comes. This is in contrast to high-pressure approaches that don’t usually lead to results.
On the note of cultivating relationships, Customer Relationship Management (CRM) software can seamlessly track prospect interactions and help build your customer pipeline. At the same time, automation can save the day in the form of social media scheduling tools. Such solutions enable users to push out content and monitor relevant metrics, allowing you to personalize and refine your messaging. This approach not only allows for scalability but also helps glean actionable data related to prospect behaviors and analytics, guiding strategic decision-making.
Don’t overlook the strategic side of technological adoption. It’s important to not let efficiency overpower authenticity. No one wants to feel like they’re a number or receiving a mass promotional email. Email list segmentation can be a helpful antidote to this balancing act.
Tip #3: Think Like a Marketer
Firm growth should be an ongoing pursuit, not an afterthought. Establishing a disciplined approach to prospecting can mean the difference between a mediocre year and a banner one. Allocating daily time for prospecting activities not only ensures a consistent focus on expanding the client base but can help you create systems and processes to leverage time and time again.
At the same time, you don’t have to go it alone. Delegating administrative tasks to support staff is a strategic move that can pay dividends. By doing so, advisors can invest their time and resources into efforts that produce income.
Though workdays can be hectic, honoring scheduled prospecting time even when faced with deadline pressure. Consistency is key in cultivating and maintaining client relationships. However, in the process of delegation, take care to do so in a way that supports staff while also making expectations clear.
While it’s unclear what 2025 might bring, one certainty is that marketing — and client retention — are the lifeblood of any RIA firm. You also need an expert in your corner to meet and exceed your firm’s goals. Tools like Docupace can help you onboard clients faster, store your documents securely, and empower your advisors with the back-office technology they need to focus more work on clients. To learn more about the Docupace platform, reach out for a discovery call here.
