Why You Should Name Your Financial Planning Process - YFCD #37

An easy way to differentiate yourself, magazine marketing for advisors, the definition of insanity

Welcome back,

There are over 330,000 financial advisors in the US.

If I had to guess, a majority of us offer the exact same services.

Investment management as a cornerstone, with various disciplines branched off - insurance, tax, retirement planning, etc.

So, how do you differentiate yourself enough to make someone want to work with you over someone else?

One way: Brand your planning process

Without branding, we're a commodity.

There will always be another financial advisor for someone to work with.

But there's only one of you.

So take the time & effort to show people why working with you is the right choice.

At AllStreet, we named our process from day one — The AllStreet Approach.

"The AllStreet Approach is the framework for how we work with our clients. It was designed with you in mind, it prioritizes accountability from us, and it reinforces positive financial habits in our client's lives."

New clients have referenced it in the discovery call, and appreciate being able to see two sample versions of documents they'd receive as a planning client.

Before meeting with us, they know exactly what they're committing to and what they're receiving as a service. Because we also include case studies & fees on our website, by the time someone's reaching out to schedule a call, there's minimal "selling" left to do on our part.

And the process itself likely isn't much different than yours, but it feels like it is to someone on the outside.

Another example that I'm currently working on new designs for - FiatWM trademarked their approach, The Retirement Renovation Process:

All of the language is similar to renovating & designing a dream house, like renovating & designing your dream retirement. It's a cool concept & I think it'll continue to work well for them.

If you haven't taken the time, consider making your approach to financial planning unique to you & your firm.

People often don't know what it looks like to work with a financial planner.

Showing the series of meetings, the timeline, & what to expect can get someone a little bit more comfortable—ideally enough to schedule an initial meeting.

Designs IRL

A few months ago, I had the opportunity to design an ad that would go into a magazine. Almost everything I've done creatively so far has been digital, so it's exciting to see something tangible.

Erik Baskin works exclusively with veterans & military members. Because he has a defined niche, he can confidently spend marketing dollars in areas that show promise. For most advisors, having a full-page ad in a magazine wouldn't result in much success. The copy & creative likely wouldn't resonate enough to capture & convert someone's attention.

But when you have a niche, you can find niche-specific distribution channels and place your message directly in front of your ideal clients.

For example, this magazine is only sent to military bases & to those who have served - so everything in the ad is tailored for the audience:

To think about: Is there a kind of paid advertising that would work well for you & your firm? Does your niche have a regularly-read publication that you could sponsor?


Read: The Definition of Insanity (Advisor Edition)

Edit: How to Establish Your Financial Foundations (email template)

This post is for paying subscribers only

Already have an account? Sign in.

Subscribe to Converting Attn: Club

Don’t miss out on the latest issues. Sign up now to get access to the library of members-only issues.