Tag Archives: Messaging Strategy

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#98 – The Crisis of Differentiation: Michael Kitces on What Actually Works for Advisors

Client Experience, Client Experience & Loyalty, Finance, Practice Management, , , , , , , , , ,

Financial advisors face the real challenge of proving their worth to clients who have more options and skepticism than ever before. 

How do today’s top advisors cut through the noise, establish credibility, and attract clients in a way that actually works?

In this episode, Referral Coach Bill Cates interviews Michael Kitces, Chief Financial Planning Nerd at Kitces.com and a leading voice in the advisory profession, about what truly moves the needle for financial advisors. 

They tackle the foundational role of trust, the evolving meaning of holistic advice, effective tactics for client acquisition, and what separates advice-focused advisors from product-driven ones. The conversation also looks ahead at the future of financial planning and practical strategies advisors can use to grow their firms.

Michael discusses:

  • The essential role of trust in both building relationships and driving client acquisition
  • How advisors can leverage “borrowed trust” through referrals and other trusted sources
  • His mission to make advisors “better and more successful”
  • The changing definition of a holistic advisor and the increasing importance of delivering real, advice-first value to clients versus just selling products
  • Research-backed insights into which marketing activities effectively generate new clients and revenue for advisory firms
  • …And more!

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About Michael Kitces:

Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, is the Head of Planning Strategy for Focus Partners Wealth, a private wealth management firm located in St Louis, Missouri, that oversees more than $50 billion of client assets. In addition, he is the co-founder of the XY Planning Network, AdvicePay, fpPathfinder, and New Planner Recruiting, former practitioner editor of the Journal of Financial Planning, and the publisher of the e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View through his website www.Kitces.com, dedicated to advancing knowledge in financial planning.

Michael is also a popular speaker on financial planning and practice management topics, and can be seen presenting at 50-70 regional and national conferences for financial advisors every year.

Michael is one of the 2010 recipients of the Financial Planning Association’s “Heart of Financial Planning” awards for his dedication to advancing the financial planning profession. In addition, he has variously been recognized as financial planning’s “Deep Thinker,” a “Legacy Builder,” an “Influencer,” a “Mover & Shaker,” part of the “Power 20,” and a “Rising Star in Wealth Management” by industry publications. These awards were presented to honor Michael’s active work in the financial planning community. Michael is also a co-founder of NexGen, a community of the next generation of financial planners that aims to ensure the transference of wisdom, tradition, and integrity from the pioneers of financial planning to the next generation of the profession.

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Episode #45 How to Revolutionize Digital Marketing for Financial Advisors with Stephen Beach

Education, Finance, Marketing, Speaking, Uncategorized, , , , , , , , , , , , , , , , , , , , ,

Digital marketing for financial advisors can be an overwhelming and/or confusing topic for many.

Financial advisors are often challenged by what marketing strategy is right for them, how to communicate their value, and what outside resources might be right for them.

Can you relate? 

While Bill Cates is the recognized expert and supreme advocate for growing through referrals and personal introductions, there are certain tactics and strategies in the world of digital marketing for financial advisors that shouldn’t be ignored.

This is a Case Study Episode of Top Advisor Podcast.

In this unique episode, Referral Coach Bill Cates interviews Stephen Beach, Co-Founder of Craft Impact, about their work with Burney Wealth Management. They discuss Burney Wealth’s marketing struggles prior to working with Stephen, and how he and his firm helped them develop effective messaging, a results-generating website, and greater overall clarity in their marketing. All of this work has served as a turbo charger to the referral culture Bill had already helped Burney Wealth develop and implement.

Bill and Stephen discuss: 

  • Why a website can be a financial firm’s most important digital asset along with some specific, implementable strategies.
  • Why Burney Wealth decided to offer a sample financial plan template to visitors of their website and how this strategy has exceeded their expectations.
  • Craft Impact’s approach to messaging, including internal workshops using the StoryBrand framework and external interviews with clients.
  • The importance of messaging on a website, specifically the banner, and how it should be emotionally appealing to potential clients.
  • The definition of cognitive fluency and Stephen’s method of helping advisors explain their process in a visual manner.
  • The importance of providing relevant information, checklists, or other tools valuable enough that potential clients are willing to submit their contact information on the website in order to receive them. (Often called, “Lead Magnets.”)
  • …And more!

 

Resources: 

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Connect With Stephen Beach: 

About Stephen Beach:

Stephen Beach co-founded a growth and communications agency for a few reasons, among them: to create a successful company that offers employment opportunities, to be a role model to his son, to grow from the challenges of creating a sustainable business, and to help other small and medium size businesses grow their revenue and teams through inbound marketing. 

After graduating from the University of Notre Dame and working for a large pharmaceutical advertising agency, Stephen knew he wanted to create a new kind of marketing agency- one with fresh ideas, personalized support, and proven ROI without the big agency prices and overhead. 

Stephen continues to be a Notre Dame college football fan despite attending the university during the underwhelming Charlie Weis era and the more recent years of disappointment. He loves golf, craft beer (of course) and traveling with his wife, and being a father to his children Auggie, Lola, and Oakley.

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