Partnering to Differentiate

Partnering to Differentiate

Many advisors are beginning to look alike, according to a recent article in  All of us are calling ourselves financial planners, wealth managers and asset managers. But our clients can’t tell the difference because we essentially do all the same thing: grow assets.  

One of the ways clients appear to be looking to differentiate financial advisors is through branding and digital marketing. As a business owner, you probably find it difficult to devote resources to things that don’t directly generate revenue. However, our clients are looking for ancillary pieces of information to set us apart from the crowd. You need to make sure you’re delivering educational information, specific client data and thought leadership through a variety of different mediums.  

A lot of clients like shorter videos, for example. You can be concise while communicating complex ideas.  Additionally, you need to think about how you can have a digital presence. This goes beyond just having a website. Fifteen years ago, having a simple website was innovative. Today, it’s not only a table stake, but it’s often viewed as old fashioned. Your clients will ultimately demand immediate access to their account values, beneficiary information and other key account data. 

Gaining expertise on the latest technology remains expensive and time consuming.  You need to have partners who can help you differentiate your business. It’s no longer acceptable to be different because you’re independent or take a holistic look at the client’s situation. Instead, you have to do all of the above, plus deliver it when the client wants it – regardless of when they want it.  

Take a look at your partnerships. Can they assist you with advancing in the digital world? Can they provide expertise in social media marketing, application design and promoting your business through referrals? If not, question why that person is considered a partner and insist on having the right partners by your side. Call Ash Brokerage for information about how we can help you in these areas. 

Bottom Line: Partnerships are key to growth. Clients are looking for a different level of engagement with their financial professional. Make sure your partners are in line with where you need to go.