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How to Get Annuity Leads as a Financial Advisor


Financial advisors depend on leads to grow their businesses. Finding people who may be interested in purchasing annuities requires using specialized strategies tailored to that product. Advisors can get quality annuity sales leads from a wide variety of sources and methods, including networking events, social media advertising campaigns, upselling and generating referrals from existing clients and buying them from professional lead generation services. Combining several techniques works better than relying on just one. Whichever methods you use to get leads, it’s always important to stress careful targeting and follow-up nurturing if you want to convert more leads into sales.

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What Is an Annuity Lead?

An annuity lead refers to someone who may be in the market for buy annuity products. Ideal annuity leads match the target customer profile for a particular type of annuity. Key qualifying criteria include age, life stage, assets, income, tax situation and retirement plans.

For example, a single, risk-averse 60-year-old with $500,000 saved for retirement and concerns about stock market volatility could represent a high-quality lead for a fixed index annuity. A lead lacking some combination of those attributes may be less likely to convert to a sale. So tailoring lead sources to the desired annuity customer is necessary to get good results.

Contact information is also a vital component of a good lead. The best annuity leads include multiple forms of contact information, including a phone number, email address and mailing address if available. This gives the financial advisor several channels for following up.

However, a phone number is the most valuable piece of contact data. Speaking directly to leads is the fastest way to qualify them. A phone call also builds more personal trust than digital communication.

Email also has its place. Email is an ideal channel for providing helpful information and nurturing leads until they are sales-ready. Automated email sequences can educate customers and encourage purchases.

Postal addresses enable direct mail follow-ups for leads who don’t respond to calls or email. Sending someone physical materials feels more substantial and may be more likely to command attention.

Where Good Annuity Leads Come From

Financial advisors discussing a marketing strategy to attract annuity leads.

Annuity leads can come from a wide variety of sources. Technological innovation breeds a steady stream of new ways to identify people who may be interested in purchasing an annuity. Meanwhile, some techniques and sources have been around long enough to become trusted. Here are five common sources to consider:

Client Referrals 

Asking happy existing clients to spread the word about an advisor’s annuity products is one of the least expensive and most effective ways to generate leads. Asking for client referrals leverages available social capital with the goal of using existing client relationships to generate new ones. It also rewards customers by catering to their friends and family. Referrals may convert to sales more easily because the advisor comes pre-endorsed by a trusted source. These referrals can spawn a self-perpetuating lead generation pipeline.

Cold Calling

Though it tends to be highly time-consuming and does not guarantee success, cold calling from large databases such as telephone directories lets advisors pitch annuities directly to potential customers. Targeting only qualified leads likely to be open to such calls can significantly improve the efficiency of cold calling. Still, this tactic is on the aggressive side, and restraint is required to ensure it stays ethical.

Content Marketing

Sharing free, practical content showcases an advisor’s knowledge and acumen. Blog, videos and podcasts can efficiently reach wide audiences. Content marketing is a long-term lead generation approach that aims to build credibility and familiarity. Once comfortable with the advisor’s expertise, web visitors may become sales leads.

Social Media

Paid ads on Facebook, Google, Instagram and other platforms draw quick traffic to advisor landing pages. Social media also nurtures followers organically over time. Advisors can boost engagement with user by carefully tailoring messaging to the appropriate demographic. Promoted posts play a role by keeping an advisor’s services top of mind until users become sales leads.

Lead Generation Services

An advisor can spend much of their day personally searching for annuity leads online, or they can outsource the job to specialized lead generation services. For a fee, these use online ads and other techniques to identify pre-qualified, sales-ready annuity leads that they deliver directly to financial advisors looking for annuity customers. Services typically allow for custom requirements so they can filter prospects to precisely the match target customer profiles. They also employ verification procedures to increase chances a lead has genuine, recent interest in buying an annuity product.

Leverage Your Professional Networks

Establish relationships with certified public accountants (CPAs), estate planning attorneys and other financial professionals. These professionals often have clients who could benefit from annuities, and a referral system can be mutually beneficial. Also consider attending and speaking at industry conferences, webinars, and local events. This positions you as an expert in your field and provides opportunities to connect with potential clients and referral partners. Meanwhile, joining organizations such as the National Association for Fixed Annuities (NAFA) or the Financial Planning Association (FPA) can provide access to resources, networking opportunities and credibility.

Annuity Lead Limitations

Acquiring quality annuity leads can help kickstart sales for a new financial advisor or sustain an established advisory business. However, success is not guaranteed even with the best lead.

Once generated, annuity leads require quick, personal follow-up to covert interest into sales. Prompt contact reminds leads of their initial annuity research. Asking about their needs gauges readiness to move ahead with a purchase. Early leads get continuing nurturing like helpful emails or texts until the time is right. Tracking lead source performance focuses future marketing resources on what works best.

Annuity lead generation also has downsides. Networking and referrals take time to cultivate. Cold calls annoy most recipients. Content marketing only attracts website visitors. Social media gives little user data. And lead services involve extra costs. Using multiple sources can help manage these limits but the activity still requires substantial, ongoing advisor effort.

Bottom Line

A financial advisor working with new clients after using a marketing strategy that focuses on annuity leads.

Growing an annuity sales book starts with leads targeting likely buyers by age and assets. Financial advisors generate quality leads through diverse networking channels, social media sites, client referrals and specialized services. Combining methods ensures a steady pipeline of prospects. Converting leads to sales then depends on swift, personalized follow-up to build trust in the annuity products matched to customer needs from fixed index to variable or indexed.

Tips for Growing Your Advisor Firm

  • SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.
  • Another common way to attract new clients is to organize your own webinar marketing events. These can help you showcase your expertise, engage potential clients and provide valuable, interactive content that could help establish your credibility and build trust.

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