Start Your New RIA with a Strong Marketing Plan

By Kathleen Miller, Director of Marketing and Communications

Start-up marketing is an important part of creating an RIA because independent financial advisors need to make a strong first impression with clients who are considering moving their assets to a new firm.

If you have never hired an ad agency or a website developer, do not worry. Those steps are exactly the types of details that TruClarity would handle for you. TruClarity not only has experienced marketing consultants on staff, it also regularly vets and recommends ad agencies, web developers, marketing and PR people for advisors just like you. We know people who can help with branding, web development and media contacts. We will screen contractors in your price range so that we may recommend the best fit; we understand you need to be confident that you are making a sound investment in your business.

In addition, RIAs with more than one advisor may find you have as many opinions on branding as you do partners. It is helpful to have a third party who is knowledgeable about marketing and who can mediate that conversation.

TruClarity gives its clients realistic timelines and helps determine a reasonable marketing budget so they know what to expect. We will help you choose an experienced marketing professional and you can trust her or him to set deadlines and ensure projects are completed on time and on budget. When you open your doors, you will need your website to be online, your client communication materials and signage, created, and a news release, issued. None of these things happen without a lot of work and oversight; leave them to professional marketing or PR consultants so you can focus on your clients.

In addition to media and online communities, you will need to be ready to share information about your new firm with clients and contacts in your circle of influence. Whether you are at an after-hours business event or a luncheon with a former client, it is important that you, and other advisors in the new firm, have a polished but succinct “elevator speech” ready. You should be able to briefly explain why you went independent, the advantages of an RIA, how the client’s assets will be protected and how they can transfer assets to your new firm. Practice on your colleagues and friends until the speech rolls naturally off your tongue!

On a daily basis, TruClarity also supports new firms’ marketing platforms, because we understand the role marketing plays in growing your book of business. Working with strategic partners who can help you create a strong brand and achieve your goals is a good investment for you and your business.

SHARE