A Marketing Primer for Financial Planners

You’re a financial planner.

How do you get clients? How do you get people to see the value in what you do and choose you over other options, including the option of doing nothing at all?

More specifically, how do you get the right clients? You know, the ones that don’t make you want to gouge your eyeballs out with a spoon when you’re on a call with them.

I got to see Seth Godin speak at the Smart Hustle Small Business Conference in New York City last week and someone in the audience, a financial planner, asked just that. His question was along the lines of, “How do I get noticed and get people to choose me?”

In other words, how do I get people to give me their money?

Between Seth’s response, the concepts I learned taking his Marketing Seminar (10/10 would recommend), and my own experience working in the financial industry here’s a few things financial planners should consider when thinking about marketing.

Yes, this is marketing. And yes, you have to do it yourself.

You can’t opt out because how you do business is your marketing. And you can’t outsource it because no one cares about your business as much as you do.

Familiarity is not the same as trust.

Just because people know you doesn’t mean they trust you. You can be familiar because you’re active on Twitter or host events or because you’re known as “Rhonda, the finance woman!” at parent events at your kid’s school… but that doesn’t mean people trust you. They might know what you do (familiarity) but not how or more importantly why you do it (trust).

Getting in front of people so they know you exist is only part of it. For someone to work with you they’ve got to trust you.

Being specific helps build trust.

How do I tell you apart from all the other financial planners?

You have to give me a clue. Something that shows me, “Oh, she’s the financial planner for people like me.” I need to be able to figure that out quickly and I can’t do that if you look and sound like every other financial planner.

You have to resist the urge to play it safe because safe equals generic, and generic equals ignored. Be clear about who you are and are not for. If you’re “a solution for everyone” you’re a solution for no one.

Share specific, detailed stories that your client can see themselves in. Stories that act as mirror… “I work with families going through exactly this moment who believe this” kind of stories.

If you tell a potential client a story that sounds exactly like the one they tell themselves every day, guess who trusts you now?

You must create tension.

Tension is created when I realize I have a problem and that you’re the one who can solve it. Tension is why we go from interested to paying client.

We pay for solutions.

How do you create tension? Bring to someone’s attention a problem they’ve been burying. A great example Seth gave was picking up a Berne Brown book… “I didn’t know I had a shame problem until I read the cover. The answer is inside so I’m going to buy it.”

Once we know we have a problem we’re dissatisfied until we get the answer (that’s tension) and the answer should cost money (that’s a business).

Those free intro calls with prospective clients? They’re great as long as they create tension. If you solve someone’s problem on that first call—and don’t bring up other problems you can solve—they’re not going to become a client because they’ve already solved their problem. They’ve already relieved the tension.

Change what people know, not what they believe.

You can change what people believe or you can change what they know.

It’s much easier to find people who believe what you believe and change what they know. Keep this in mind when you’re thinking about how to show people they have a problem you can solve.

What do they currently believe about money or financial planners? And what do they currently know about those things? If someone doesn’t think they have a fee problem then that’s not going to be a selling point for them. You’ve got to show them why they have a fee problem (change what they know) while connecting with them on something they believe in i.e. “my kid deserves to graduate from university debt free” or “I don’t trust banks”.

And finally…

They are not wrong.

Sure, if they knew what you knew and believed what you believed then they’d do what you’d do. They’d open retirement accounts and save diligently and become properly insured and hire a planner.

But they don’t.

And furthermore, they are not wrong for that. 

Everyone does the right thing based on what they know and what they believe at the time. That’s why it’s so important to start with where people are, because nobody likes to be told that “they’re doing it wrong”. It puts them on the defensive and makes them much less likely to trust you.

And yes, showing people they have a problem is different than telling them they’re wrong.


Another reminder that these concepts come from things I’ve learned through Seth Godin. I’m not this smart… *winks*. This is simply my interpretation and expansion of those concepts and how I think they apply to financial planners.

Well, any business.

And here’s a photo from that trip to New York. A reminder to always look up. 

About the author

Kate Smalley

Kate is a marketer, maker, and freelancer living in Toronto. She works with small businesses to help them narrow in on their purpose, share their ideas, and tell their story.

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *