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5 Best Lead Conversion Strategies For Financial Advisors

Are you sick and tired of losing leads at the last minute?

Lead conversion strategies can often feel like you are throwing spaghetti at the wall and hoping something sticks.

It’s time to rethink the once-successful strategies in the financial industry and assess if these strategies still apply in an increasingly digital world.

Your firm and your clients are unique. There’s no one size fits all process in building a consistent flow of qualified leads. Depending on your firm’s specific audience, some techniques will work better than others, but one thing is for sure — a digital footprint is a must-have.

In this guide, we’ll share the five best lead conversion strategies that have generated proven results for financial advisory firms by filling your pipeline with highly qualified leads and offering value they can’t resist.

Let’s dive in.

1. Create a lead magnet to build your email list.

An email marketing strategy is one of the most powerful forms of marketing.

Why? It’s the easiest way to get the most bang for your buck.

For every $1 you spend on email marketing, you can expect a return on investment of $36. That’s more than you might get from any other form of marketing.

But to take advantage of this strategy, you must build a healthy email list of potential leads.

That’s where a lead magnet comes into play. A lead magnet is any incentive people are willing to give their email address in exchange for whatever it is you’re offering.

Lead magnets are incredibly effective at building your email list and capturing leads — but only if they’re well-crafted and targeted to the right audience. If you’re looking for some inspiration, here are some ideas:

  • A free e-book with tips on how to start investing in stocks or mutual funds
  • A calculator that assesses risk tolerance
  • A free guide to creating a budget or managing your money better
  • A link to the Nitrogen Lead Generation Questionnaire with the call to action, “What is Your Risk Number?”

Once you have a database of emails, send weekly or monthly newsletters with relevant information about the stock market or new savings opportunities.

These educational materials will keep current customers engaged while simultaneously building trust with those new leads that just came through the door.

2. Place a high priority on your website’s user experience.

A good user experience (UX) is one of the most important parts of converting a lead into a paying customer. Consider your website as your digital office. It’s the first place that clients will go to find more information about your services.

If your website is slow to load or looks spammy, how can you expect someone to trust you with their hard-earned money?

Stand out from the crowd by offering a website with a clean, modern design that’s easy to navigate and responsive on mobile devices.

Take it up a notch by offering a secure, personal dashboard that uses data replication to give customers real-time financial information and net worth at their fingertips.

Lastly, don’t forget to include the basics, like your contact information, team bios, and additional information about the services you provide.

Take inspiration from some of the top advisor websites of 2022 and 2020!

3. Publish high-quality blog content.

To convert more leads into clients, you need to provide valuable information that helps them boost their confidence in their financial literacy and investment decision-making process.

Your website should be a go-to source for educational content. When deciding what content to write, consider your unique value proposition to hyper-target your ideal customer.

For example, suppose your financial advisory firm specializes in helping parents save for their kid’s college funds. In that case, you should write expert guides on student banking topics like 529 plans and how to open savings accounts for teenagers.

As a rule of thumb, aim to publish 5–10 pieces of content per week for the best results.

4. Don’t underestimate the power of social media

Adults spend an average of 95 minutes per day on social media.

Although social media may not seem like an obvious choice for lead generation for financial professionals, it can significantly impact your ability to attract prospects digitally.

Here are some reasons you don’t want to skip building a social media presence:

  • Increase your digital footprint: The more, the merrier. A robust social media presence makes it easier for potential prospects to find you online.
  • Another content distribution channel: Building an online community allows you to share your content, news, and other insights more widely. Keep your brand top-of-mind and land more opportunities for conversion by using a social media scheduler to keep you organized and publishing content at optimal times.
  • An opportunity for direct outreach: According to a 2020 eMoney Consumer Marketing Survey, almost 60% of people agreed that they are open to direct outreach from a financial advisor on social media.

5. Host events to foster relationships.

Most financial advisors fall short by focusing on the wrong leads. They spend a lot of time and energy chasing new clients who aren’t ready to commit.

Instead, use a lead scoring process to focus your efforts on nurturing relationships with leads who are already qualified and ready to take action.

Once you have a short list of high-quality leads, throw an event such as a golf outing or holiday party to build genuine relationships and make them feel special.

But don’t just invite potential leads to these events.

You should also add your top customers to the guest list to boost referrals. After all, clients who convert from referrals have a 37% higher retention rate and 16% higher lifetime value than other lead generation strategies.

Wrapping up

It’s not enough to have a killer lead generation strategy. You also need to be able to convert those prospects into clients.

You can turn a lackluster lead conversion strategy into a robust client list by sharing educational materials, investing in digital marketing strategies, and fostering long-lasting relationships with clients.

Time is of the essence. Your competition isn’t waiting around, and neither should you. Start implementing these lead conversion strategies today.

About the author

Kelly Moser is the co-founder and editor at Home & Jet, a digital magazine for the modern era. She’s also an expert in freelance writing and content marketing for SaaS, Fintech, and e-commerce startups.


Shane Barker is a digital marketing consultant who specializes in influencer marketing, content marketing, and SEO. He is also the co-founder and CEO of Content Solutions, a digital marketing agency. He has consulted with Fortune 500 companies, influencers with digital products, and a number of A-List celebrities.



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