The rise in registered investment advisors (RIAs) and significant industry consolidation has allowed larger firms to leverage scale and capital advantages. To enhance customer expansion, RIAs must refine marketing strategies that prioritize net new assets from ideal clients. A common misstep is over-focusing on engagement metrics like clicks or followers instead of essential indicators of business growth. The need for timely outreach to prospective clients is critical, as most leads engage with multiple firms. Marketers should concentrate on crafting strategies that yield substantial returns on investment.
"Ultimately, at the end of the day, what an advisory firm is looking for is more net new assets from right-fit clients. Those metrics matter."
"Some RIAs get really lost tracking numbers like clickthrough and bounce rates, likes and followers and website visitors."
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