There are many ways to grow a firm and keep your new client pipeline strong. However, one often overlooked option may be one of the most effective: financial education.
Wealth management and financial planning can confuse people, and many are looking for solid, trustworthy education. They don’t necessarily want to be sold something and may not be ready for a financial advisor, but they want to understand their options, what steps they can take, and a basic primer on financial terms.
That’s where an experienced advisor can step in as an educator. Using your knowledge and training, you can share financial expertise. Financial education events are a win for everyone involved: participants learn about finances, and advisors can cultivate leads and build relationships. A recent survey found that 47% of organizers say webinars are helpful in the awareness, interest, and decision stages of the sales funnel.
How can you use financial education to develop leads? There are three key steps.
What Will You Teach?
A strategic financial education approach starts with the right topic. What are people asking you about regularly? What services do your clients need most? What are your areas of expertise? These questions can help you find the best topic. Aim to be as specific as possible to add value and stand out from the sea of basic financial advice. A webinar about tax preparation for retirees will gather more interest than a general webinar about finances.
Here are some potential options for educational events:
- Benefits of saving for a child’s college
- Crypto 101: What is it, and should you be investing in it?
- How to prepare for retirement at different life stages
- Overcoming debt
- Tax and estate planning for families
When selecting a topic, consider the timing of the event. A class on saving for college could be helpful in the spring as students get ready to graduate. If you have many connected ideas, you can create an educational series and divide the main idea into sub-topics for multiple events.
Additionally, you can boost the appeal of topics by researching common finance questions using the “People Also Ask” section on Google. Turning these common questions into your webinar title can attract a larger audience, as it directly addresses what potential clients are already curious about. It’s an easy way to create content that resonates with your target audience!
How Will You Teach?
Along with the topic, you’ll also need to select a format. Financial education often takes place as a webinar, in-person class, or recorded video session. Each channel has pros and cons, so consider your target audience and the cost and convenience for your firm.
Then, decide who will share the information. Just because you host an event doesn’t mean you have to be the one sharing all the information. You can be a solo presenter, invite a guest speaker to share the time, moderate a panel of employees or industry leaders from other firms, or open a Q&A session. Think of the best way to cover your topic and share information with your audience.
Advertise your event online, through your firm’s social media channels, in local newspapers and publications, with fliers in your office, and any other ways to reach your target audience. When registering people for the event, collect their phone numbers and email addresses so you can contact them later.
Create a Strong Call to Action
As you create your webinar, consider what you want participants to do afterward. The most obvious action is encouraging them to schedule an appointment with you. For in-person events, one effective approach is to go around the room or have attendees stand in a line to book appointments on the spot. This creates a sense of urgency and encourages immediate engagement. Aim to provide actionable steps, such as specific ways they can manage their money or other resources they can use.
After the webinar, reach out to participants and invite them for a consultation to discuss their financial goals. You can also reach out to individuals who had specific questions during the event to provide personalized answers, send additional resources, or share more insights. And because you have the participants’ contact information, you can add them to your email newsletter list for further connections. Use the educational event to start a great relationship with potential clients and stay in contact whenever they’re ready to hire an advisor.
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