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Posted by on September 20, 2019

Like every other business, generating leads is very crucial for your business as a financial advisor. Prospecting for new sales leads is important. Unfortunately, it is one of the top challenges financial advisors face. The fact is, you can never have enough lead. At some point, you will need to inject some fresh sales leads to those you already have. 

While it is true that there is an endless supply of leads just waiting to be gobbled up by financial advisors, finding these leads and convincing them to come on board with you can be very challenging. In fact, most financial services fail because of a lack of new leads. Top financial service providers spend a significant portion of their budget on prospecting for new sales leads. 

Leads are what fuel a business. New leads help your business to keep on growing. This is the reason top financial service providers don’t spare any expenses when it comes to acquiring new leads. However, not every financial advisor has sufficient financial resources to pay for leads. In this article, you will learn of effective lead generation strategies for financial advisors. Keep on reading to learn more.

Lead Generation Strategies

Top Effective Lead Generation Strategies for Financial Advisors

  1. Create a Professional Website

Nowadays, once someone needs a service, the first thing that comes to mind is “Google it”. The only way someone can find you online is if you have a professional website. You will need to create a professional website that allows those in the need of your services to find you. Since this is a very competitive niche, we will recommend you narrow down your niche to your city. Additionally, you can involve the services of an SEO expert to help you rank your website on the first page of the search engine result page. This way, people can easily find you when they google for financial services. 

  1. Answer Questions in Forum

Yahoo Answers,, Reddit, as well as other forums are goldmines for generating leads. Every day, people come to these forums to seek financial advice and recommendation. Create an account on these forums and provide these people with free financial advice. Of course, a great way to gain them as leads is to recommend they contact you for further information. It is important to note that you have to offer them value before you can gain their trust and gain them as new leads.

  1. Make Use of Facebook Advertising

Facebook advertising is one of the cheapest ways to generate leads. With billions of users on Facebook, thousands of your potential clients are already on this platform. Facebook advertising allows you to narrow down your market. You can target leads based on demography, location, age, and even based on the income group. One of the greatest advantages of advertising on Facebook is that a budget as low as $20 can go far in generating leads.

However, don’t stop on Facebook alone. You should also explore other social media platforms such as Instagram, Twitter, and LinkedIn.

  1. Build Your LinkedIn Network

LinkedIn is a great way to generate leads. This is social media for professionals. You can connect with people in your industry and grow your reputation on the platform. LinkedIn also has “communities” where you can join like-minded individuals and explore various ways to gain more leads for your business.

  1. Host an Event

Hosting an event is a powerful way to gain new sales leads and also establish yourself as an authority in your community. Most people in the community have no idea who to go to when they need financial services. By hosting an event, not only you will gain these people as new leads, they will regard you as an authority in the industry.

  1. Send Cold-Call Emails

Most people frown on cold-call emails. However, it is a valuable way to gain a lead. When done well, cold-calling can help you gain new leads. When sending cold-call emails, it is important that you don’t sound “pushy” or aggressive. Stay focus and direct to the point.

  1. Word of Mouth

Word of Mouth still remains one of the most recommended ways to gain new leads. You are the greatest brand ambassador of your business. Thus, don’t be afraid to always tell people what you do and give them your contact. Be open and sociable.

  1. Ask Existing Clients For Referrals

Your existing clients can also be a good source of referrals. If they enjoyed the quality of your service, they will be glad to recommend you to people. You can always ask them for a recommendation. You can even offer them incentives for every new referral they bring to you. 

  1. Get Involved In the Community

You can always get new leads by becoming more active in your community. You can do this by joining various groups and attending various events in your community. You can as sponsor sports events, educational events, set up a booth at a festival or work with a local nonprofit.

Final Words

As a financial advisor, gaining a steady flow of leads is very challenging. However, it is possible if you are able to successfully combine the various methods listed above. You can also find other ways you can generate leads by searching for how to generate leads for financial advisors online. Even if you already have leads, keep working on adding new leads to grow your business.