Marketing to Consumers

By Kathryn Dattomo

One lesson I learned working with professional associations is that it’s important to market yourself and your firm to consumers. Here are some tips to get you started.

Explain the Importance of Fee-Only Financial Advising

Discussing Fee-Only financial advising is a great opportunity for you to explain that you are compensated directly by your clients for advice, plan implementation, and the ongoing management of assets. Also, regardless of how you’re paid as a Fee-Only financial advisor—hourly or with a retainer, a percentage of AUM, or a flat fee—explain how this ties in with your fiduciary duty and your obligation to put their interests first all the time.

Inform Consumers of the Continuing Education You Complete

Whether you are a regular NAPFA conference attendee, have completed the NAPFA DEI Training & Certificate Program, or are consistently attending webinars, this information is valuable to potential clients. You are making a dedicated, conscious effort to continue your education and learning within the profession. In addition, you are a member of a community of more than 4,600 Fee-Only financial advisors whom you can connect with and learn from on a regular basis.

Share Helpful Resources with Consumers

The NAPFA website includes a Consumers tab where you can find resources, graphics, and other materials to use with your clients, share on your social media channels, or place on your website. The resources include a financial advisor checklist you can share to help consumers assess potential advisors. These resources can help consumers feel more comfortable selecting a financial planner.

Connect with Local Fee-Only Firms and Potential Clients

Being a member of NAPFA gives you many ways to network with other Fee-Only firms and professionals. Not only does this help you grow professionally, but it helps the public, too. For example, if a potential client is not a good fit for your firm, you can pass them to a fellow Fee-Only firm and vice versa.

Additionally, you can work within your community through pro bono opportunities or other ways to give back. This is an easy, rewarding way to get to know potential clients and to help others!

Update Your Find an Advisor Profile

Lastly, I invite you to visit your Find an Advisor profile (as well as your profile on Feeonlynetwork.com) on the NAPFA website to make sure your information is up to date. The Find an Advisor site makes it easy for consumers to initiate contact with Fee-Only advisors who may match their needs. Test the site as a consumer and see how your profile appears to the public. Add any missing information, and be sure the profile looks thorough and welcoming from a consumer standpoint.