The role of a financial adviser is to provide their clients with specialist advice on how they can best manage their money. As such, financial advisers are sometimes referred to as wealth managers or financial planners. Their job involves doing research and recommending the products and services that are most appropriate to meet the client’s needs.
Advisers often specialize in specific products, depending on their client base. Examples would include offering investment, pension, or mortgage advice to private individuals or selling employee pension schemes to companies. Other financial advisers are generalists, and they typically offer advice to clients in all the areas mentioned, as well as things like insurance and saving plans.
The financial industry is heavily regulated and financial advisors need to be aware of the relevant regulatory schemes. Before being permitted to give financial advice, advisers must not only have the required professional qualifications but also follow strict financial industry rules. These will be different for each country.
Financial Advisor Marketing
Just like any other business, financial advisors need to market their services if they want to grow. The most common methods used are to get their reputations out there via financial institutions whose products they market, and word of mouth, mainly by asking existing customers for referrals.
There are however numerous other ways that financial advisors can market their services. These include:
- Hosting a Client Event
- Starting a Blog
- Using Social Media
- Joining Small Business Think Tanks
- Attending Local Networking Events
Do You Need a Financial Advisor?
A recent CNBC survey showed that 99% of Americans manage their own money, and don’t use a financial advisor.
Some of the reasons people don’t get professional financial help include:
- There is a massive amount of information available online these days and people feel like they can do it themselves.
- Younger individuals have more debt, not leaving them much to invest.
- Most people believe using financial advisors costs too much and is only for the wealthy.
- Most people simply don’t understand the many functions financial advisors can provide.
Gefen International Technologies Solution
Gefen International (ASX:GFN), a publicly traded company on the Australian Stock Exchange, offers a corporate-grade digital marketing platform named ‘Moments’ that can easily be used by every agent in a financial enterprise The platform allows enterprises to leverage their marketing resources to unlock the digital potential of their agents and achieve phenomenal growth, while still maintaining compliance.
This results in transforming agent-based networks into digital marketplaces. Gefen’s platform seamlessly builds multichannel digital hubs that connect carriers, customers, and agents, enabling financial institutions to provide better service and generate more business without losing the human touch.
The ‘Moments’ platform helps companies create powerful agent networks. The technology enables services, products, and strategies to be distributed through managing of agent’s digital presence, sending of omnichannel campaigns automatically, data tracking, customer conversion, compliance, and attribution.
As a result of using Gefen Technologies, an agents network of financial advisors will be empowered and this will in turn transform into increased revenue and customer relationships. The digital-native experience on Gefen’s platform includes real-time connections with the appropriate offerings and compliant customer-advisor engagement. This keeps it personal every single step of the way.