Step into digital - how to position advisors for online success

STEP INTO
DIGITAL:
How to Position Advisors
for Online Success

Advisor Websites is a global software leader providing
website and digital marketing solutions for the financial
services and insurance industries. With a multi award-
winning platform, Advisor Websites partners with its
customers to create and maintain an exceptional and
compliant digital presence that turns online traffic into new
business. Advisor Websites partners with more than 125
financial institutions across North America including Sun
Life, Investors Group, LPL Financial, New York Life and
major custodians like TD Ameritrade, Fidelity and Charles
Schwab. Advisor Websites empowers more than 6,000
financial service professionals to engage new prospects
and clients online with a results-focused, mobile responsive
website. Advisors receive education and training on digital
marketing best practices, have access to a library of
pre-approved content and more than one dozen custom
integrations including Salesforce, Redtail, Hootsuite,
Mailchimp and Riskalyze. With an enterprise platform built
at its core, Advisor Websites is designed to meet the legal
regulatory compliance and security rules and policies that
guide the financial industry.
Advisor Websites is a Strategic Partner of the Financial
Planning Association, and participates as a sponsor and
speaker at many industry events such as the FPA Business
Education conference, and TD Ameritrade Annual. Named
a 2015 Best Service Provider by Wealth Pro Magazine, and
a 2015 Best Place to Work in British Columbia, the company
is headquartered in Vancouver, Canada.
Loic Jeanjean
Director, Sales and Marketing
1.866.638.0273 x212
For more information contact:
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3
Table of Contents
Introduction
Why it Matters
The Digitally Elusive Generation
Don’t Forget the Boomers
Industry Challenges
What Financial Advisors Need to Compete
The Key Elements of a Modern Digital Strategy
Content is Always King
Social Media Integration
Easing the Social Media Compliance Burden
Responsive or Mobile-Friendly Design
Final Thoughts
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5
6
8
9
12
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17
20
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Introduction
With many broker-dealers, custodians and advisory firms
already looking ahead to Robo Technology, most have
yet to put the essential pieces in place to position their
financial advisors competitively in the digital world.
What it means for the firms and financial advisors; and
what it will take to compete for next generation clients.
Who is this Guide for?
Marketing, Distribution and Technology Officers of
Broker-Dealers, Custodian and Advisory Firms along with
any stakeholders in Advisor Growth and Retention.

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Why it Matters
Sitting at the threshold of the greatest intergenerational
transfer of wealth, in which an estimated $30 trillion dollars
will pass from baby boomers to the next generations over
the next three or four decades, financial advisors could be
looking at an unprecedented opportunity for growth or they
could be facing the greatest threat to their survival.
Why the disparity in outlook? Some financial advisors will
be better positioned to capture the attention and trust of
the next generations; while others will be all but invisible
in a digitally-wired world. The financial advisors that fail
to connect with the children of their baby boomer clients,
stand a better than even chance they will lose the assets
upon their transfer.
Although many factors can contribute to the heirs’ decision
to take the money and run, it is the inability to relate to
the next generations in a manner compatible with their
preferences and expectations for social interaction and
communication that can weigh the heaviest. Generations
X and Y are anchored in a technologically-driven mores
that must be understood and fully embraced by anyone
who hopes to gain their favor and, in the case of financial
advisors, their trust.

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The Digitally Elusive
Generation
Financial advisors won’t have to wait until the Great
Wealth Transfer to feel the effects of Gen X and Y
unresponsiveness, because it’s happening right now.
According to Fidelity research, the emerging affluent are
twice as likely as their millionaire, baby boomer parents to
find their financial advisor through Internet research and
social media.1
The Fidelity study revealed even more about the
preferences of the emerging affluent investor (age 21 to 49,
$50,000 to $250,000+ of assets; $100,000+ income):
1 Fidelity Research. The 2014 Fidelity Millionaire Outlook.
https://www.fidelity.com/about-fidelity/institutional-invest-
ment-management/emerging-affluent-search-for-an-advi-
sor-online

60%
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The study’s authors fully expect these percentages to
increase as more advisors make themselves digitally
available. The conclusion drawn by the study is that,
if advisors don’t have an online presence and don’t
demonstrate an ability or desire to communicate with next
generation clients and prospects through social media and
other forms of digital interaction, they risk irrelevance.
· Nearly 60 percent of
emerging affluent investors have
a significantly more positive
impression of advisors with a
good website.
· 38 percent follow their advisor
on social media sites
· 30 percent say they are more
likely to relate to a financial
advisor who has a social media
presence.
38%
30%

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Don’t Forget the Boomers
While most of the financial services industry has been laser-
focused on the baby boomer generation for the last decade,
it may have missed a technological transformation that has
occurred in that same timeframe; which is that boomers are
not only online en masse, they now comprise more than half
of all Facebook users. More than 65 percent of adults ages
50 to 65 and nearly half over the age of 65 use some form of
social media. In that group, women, who will control half of
the nation’s wealth by the year 2020, are online the most.2
2 Pew Research Center. Social Media Fact Sheet http://www.
pewinternet.org/fact-sheets/social-networking-fact-sheet/
January 2014

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Industry Challenges
Unless you’ve been living under a rock for the last four or
five years, the trend has been undeniable, and its trajectory
grows steeper with every passing year. Although very few
firms are fighting the trend, the chasm between where
clients are, regarding technology, and where many advisory
firms are is as wide as ever with most financial advisors
languishing in technological mediocrity, or worse, when it
comes to establishing an effective online presence.
“...the chasm between where clients are,
regarding technology, and where many
advisory firms are is as wide as ever with most
financial advisors languishing in technological
mediocrity, or worse, when it comes to
establishing an effective online presence.”
Some firms are currently undertaking major initiatives
to catch up, while others continue to struggle with the
same fundamental issues that have slowed their entry
into the digital world from the beginning. For many firms,
compliance issues continue to be a drag on efforts to fully
embrace the potential of web marketing for their advisors;
however, other issues may be slowing the march forward:

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Slow adoption: Financial advisors tend to be slow adopters
of any technology. However, the transformation from
traditional marketing practices to web marketing has been
especially slow, hampered in part by compliance issues,
but primarily from reluctance.
Aging advisor population: Financial advisors have been
slow adopters as a whole; however, older financial advisors
have avoided the transformation like the plague. Their
excuse? Their clients are older as well and happy with the
traditional advisory relationship. The reality? As the research
indicates, at least half of their clients are online and using
social media.
Compliance: For some firms, compliance issues continue
to slow progress; although many firms have worked
through the compliance issues by fully adapting the FINRA
guidelines and investing in new technology that aids in
oversight and review of web content.
Inadequate technology and resources: Many independent
advisory firms have been able to react more quickly to the
technology needs of their financial advisors due to their
nimbleness and their ability to control compliance issues
at a local level. Although they’re gradually progressing,
larger firms with centralized marketing and compliance
departments have been limited in their ability to respond
except on a mass scale which limits the ability of financial
advisors to personalize their websites or actively engage
in social media. Although it may satisfy the need to have
a website, it does very little to create the critical online
presence today’s advisors need.

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Unquestionably, advisory firms face numerous challenges
in moving to the forefront of the type of technology that will
keep their financial advisors competitive in the quest for
next generation clients. The larger challenge, however, will
be retaining financial advisors who fear the deep descent
into obscurity that will occur without the means to market
themselves. Numerous surveys have identified marketing
as the top concern for financial advisors who have little
appetite for old-school approaches; yet the vast majority of
financial advisors are still sitting on the outside of the digital
world looking in.
“Numerous surveys have identified marketing
as the top concern for financial advisors who
have little appetite for old-school approaches;
yet the vast majority of financial advisors are
still sitting on the outside of the digital world
looking in.”
In a digital world, in which financial advisors must be able to
raise their visibility, establish their authority build influence,
and communicate effectively with their clients and target
markets, broker-dealers and advisory firms must find ways
to help them create an online presence using the best
practices of advisor web marketing.

What Financial Advisors
Need Just to Compete
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What we all know to be true is that having a web presence is
critical, if for no other reason than to validate one’s existence
to the market. At a minimum, a website is today’s business
card, without which there is no legitimacy. Recognizing
this, many financial advisors or their firms rushed to create
static websites, which sufficed as a business card, but were
largely unimaginative and technologically lacking.
For the more discerning, tech-savvy next generation
client, these templated websites don’t instill a high level of
confidence. Anything less than a modern digital strategy is
very likely to render a financial advisor invisible to a market
that is poised to control $30 trillion of assets.
For the more discerning, tech-savvy next
generation client, these templated websites
don’t instill a high level of confidence.
Anything less than a modern digital strategy
is very likely to render a financial advisor
invisible to a market that is poised to control
$30 trillion of assets.

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I. Fresh, compelling, original Digital Content
II. Integrated Social Media
III. Responsive Design
At its core, a modern digital strategy must include certain
key elements for positioning a financial advisor in the
market, identifying the target market, conveying a core
message, and a method of cultivating contacts and
relationships. The basic components of an advisor digital
portfolio, or web apparatus, should include a website, a
blog, email marketing, and a social media presence on
relevant networks, all integrated into a comprehensive
strategy. With that as the structure, the key elements that
are essential to the strategy include:
The Key Elements of a
Modern Digital Strategy

I. Content is always King
The whole purpose of the Internet is to house content that
can be instantly delivered to users based on their needs,
preferences, and priorities. Consider the last time you
searched for relevant content; when you came across a
site that lacked content, or contained content that wasn’t
current, compelling or useful, you probably clicked right
through to the next site, all in a matter of seconds. The
impression was near instantaneous.
Now imagine a referred lead, maybe the son of a baby
boomer client, going to one of your advisor’s static,
templated website and finds no fresh or compelling content.
No way to learn anything distinguishing about the advisor;
no way to gain any insight into his or her practice; no way to
determine his or her level of expertise. In this case, the first
impression is most likely going to be the last impression.
Aside from the fact that digital content is what people look
for when they go to a website, it serves three very critical
purposes:
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· It keeps the user on the site, and/or keeps them
coming back. Whether it’s the static content on the
web pages, or the blog posts, or the pod casts, or the
availability of webinars, fresh, compelling, well-written,
digital content is the primary driver of user “stickiness,”
increasing the chance for interaction with the advisor.
· It can be what differentiates the advisor. At a
minimum, the static web content on the web pages must
be well written and imaginative to the point where it helps
to establish the value of the advisor, offering some sense
of personal insight and professional distinction. However,
it is often the fresh content that is published daily, weekly,
or, at a minimum, monthly, that offers the greatest insight
into the practices, methods, expertise, and philosophy of
the advisor that users look for.
· It’s essential to raise the visibility of the advisor. It is
content that establishes the advisor as an authority and
helps them build influence in their target market, whether
it sits on their website or is funneled out to social media.
It’s what the market responds to creating opportunities
for making new contacts and generating leads. It’s also
what the search engines respond to in ranking websites.
Websites that contain always fresh, relevant, compelling
content rank much higher than those that don’t.
· It is what spurs the call-to-action. Whether it’s a timely
blog post, pod cast, an offer of a free report, or invitation
to a webinar, it is the content that triggers action. Financial
advisors with well-placed content consistently receive
calls from clients or prospects responding to an article or
pod cast.
15

Of course, digital content can also be the bane of OSJs and
compliance officers, which is why most financial advisors
do not currently post fresh content. Understanding the
significance of content in advancing the online presence
of their advisors has spurred several broker-dealers and
advisory firms to find ways to streamline the processes
for content review and publishing. The digital content
component may be the most essential in an effective digital
strategy, without which, financial advisors will likely remain
invisible.
A word about Blogging
The most successful inbound marketing strategies are
built on a foundation of original, handcrafted content that
provides its audience with value. Blogs are the primary
tool for adding a constant stream of fresh content that
can raise visibility, enhance the advisor’s brand, expand
market reach, and engage clients and prospects. When
integrated with the advisor’s social media apparatus, it
becomes the hub of their online presence, directing traffic
between social media sites and the advisor’s website.
Did you know? Companies that blog 15 or more times
per month get 5 times more traffic than companies that
don’t blog at all.
16

It has been well-established that, in the digital world, if you
want to be found, connected and relevant, you must have
an online presence, and the driver of social engagement,
lead generation, website traffic and referred leads is social
media. For much of the next generation, and an increasing
number of boomers, you simply don’t exist unless you are
actively engaged online.
According to a Putnam Investments survey of more than
700 advisors, the number of financial advisors using
social media has been steadily increasing for the last five
years, with 73 percent of men and 82 percent of women
now on board. 66 percent reported that its use has led
to significant client growth averaging nearly $2 million in
assets. LinkedIn continues to be the primary go-to site for
advisors, but the survey indicates an increase in activity on
Facebook, Twitter and Google+.
II. Social Media Integration
01 00 200 300 400 500 600 700 800
700+ Advisors surveyed
73% Male Advisors
82% Female Advisors
On board with Social Media
66% Reported Growth via Social Media
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The marked increase in social media use by advisors is
not surprising considering the significant increase in social
media use by mass-affluent and high-net worth clients. A
study by LinkedIn reveals that nearly 90 percent of mass
affluent users ($100,000 to $1,000,000 in investable assets)
indicate they are highly engaged with financial companies
and that nearly half are engaged with them through social
media. One of the main reasons they cite is to research
advisors and firms to help in their decision to work with one.
It is also well-established that social media is the preferred
form of contact and communication for an increasing
number of mass affluent and high-net worth clients.
18

With a social media presence, financial advisors create the
opportunity to engage with potential clients wherever they
are. And, with the ability to fine-tune their presence to
the markets they want to target, they can narrow their
focus and sharpen their message for those they want
to attract. The objective of social media engagement is not
to “sell” or even offer your services; rather it is to establish
yourself as an authority (and a friendly person) who is
willing to engage with other over topics that are important
to them. An increasing number of advisors are starting to
engage on a more personal level on social networks such
as Facebook. Regardless, the goal is to increase visibility,
make connections, and cultivate relationships.
As it relates to the digital strategy, social media plays a
critical role in delivering content and driving traffic to the
advisors’ websites. When advisors offer up a relevant article
on a social media site, it will link the interested user back to
the website where they can continue to learn more about
the advisor. It is through a proactive social media campaign
where advisors will develop most of their contacts that can
be converted into legitimate leads.
Did you know? 28% of investment professionals
had investigated an issue based on something they
had seen on Twitter and 12% had made an investment
decision after reading Twitter.
19

With the release of FINRA guidelines pertaining to
social media use, many firms have been able to
develop protocols that are easily followed. Some firms
have introduced social media training and coaching
along with tools and resources advisors can use while
accounting for compliance, legal and branding issues.
With the introduction of new technology, firms can now
automatically monitor and archive online posts that can be
reviewed by their compliance departments. Recognizing
the significance a professional, well-orchestrated social
media strategy can have on business development, most
firms are moving more quickly to developing solutions for
greater ease of use.
Easing the Social Media
Compliance Burden
20

III. Responsive or
Mobile-Friendly Design
Once thought to be a luxury of website design, responsive
or mobile-friendly design is quickly becoming an essential
requirement. Each year, as the number of different types of
devices, platforms and browsers increase, web design has
to take into account all of their various sizes and shapes in
order to able to deliver an optimal web experience. If you’ve
ever tried to view and navigate a non-responsive website on
a smart phone or even an IPad, you’ll know what we mean.
With more users (especially next generation clients)
relying on mobile devices to browse the Internet,
a website must be able to respond to the screen
size and orientation of the device. That also includes
responsiveness to the user’s preferences – landscape or
portrait, image size, and type of device (i.e. able to switch
from an IPad to an IPhone). Of course, that would eliminate
the need to develop different designs for different devices;
however, it also means finding a web designer or website
provider specializing in responsive design.
Did you know? The latest data shows a consolidation
with mobile digital media time in the US significantly
higher at 51% compared to desktop (42%)
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Final Thoughts
The financial services industry is finally starting to realize
that technology has shifted the power of the message
to the consumer. The days of mass marketing, and
forcing the message onto the consumers are over. Web
technology and social media along with the continuous
innovation of the devices that deliver it, have empowered
consumers to dictate through their behavior, preferences
and expectations which messages they want to receive,
and how and when they will receive them. More
importantly, they fully control how they and when and to
whom they will respond.
The impact on the ability of financial advisors to be able
to connect with their desired markets and communicate in
a way that engenders trust hinges on the technology they
have available at their fingertips. In the next five years, the
success of your financial advisors will come down to how
effectively they can scale and manage client acquisition
and retention in the digital arena. For next generation
clients, advisors will have to be able to demonstrate their
nimbleness and proficiency in high tech before they
can achieve high touch and high trust. Providing such
a customized experience for all clients and prospects is
simply beyond the realm of financial advisors without a
comprehensive, well-designed digital strategy.
22

Broker-dealers and advisory firms intent on moving their
advisors to the forefront of web marketing should consider
partnering with technology providers that can assist in
the development and delivery of a comprehensive digital
strategy that includes responsive websites, integrated
social media, content creation as well as the training,
coaching and resources to implement it.
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“In the next five years, the success of your financial
advisors will come down to how effectively they can
scale and manage client acquisition and retention in
the digital arena. For next generation clients, advisors
will have to be able to demonstrate their nimbleness
and proficiency in high tech before they can achieve
high touch and high trust. Providing such a customized
experience for all clients and prospects is simply
beyond the realm of financial advisors without a
comprehensive, well-designed digital strategy.”

24
Free for 7 days
clients).
you can:
Build and publish a
website you love
content anytime
using
Free for 30 days
clients).
you can:
Build and publish a
website you love
content anytime
using

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