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Email Marketing Strategies for Financial Advisors to Grow Their Business


Digital marketing is reshaping the way advisors connect with prospective clients. Email marketing is one branch of that and it can be an effective way to communicate with clients while fostering trust. In short, email allows you to put your brand and messaging directly in front of your target audience.

SmartAsset’s Advisor Marketing Platform offers financial advisors services like client lead generation, automated marketing and more. Learn about SmartAsset AMP today.

Why Email Marketing Matters for Financial Advisors

Cold calling and in-person networking are tried-and-true methods of marketing for financial advisors. While they work, they also have limitations. For example, cold calling can be time-consuming. And you might have a great conversation with a prospect, only for them to forget most of it the moment they hang up. Email marketing, on the other hand, can help advisors overcome these constraints. Sending emails can help you reiterate your message regularly and leave a lasting impression on potential clients.

It’s possible to build trust through email if you’re consistently offering useful tips and advice or simply letting your audience know that you’re there for them should they need help. The goal of email marketing is to draw clients to you by underscoring your value, rather than simply trying to sell your services.

Implementing a Successful Email Marketing Strategy

email marketing for financial advisors

Email marketing is more than just dashing off a few sentences or including a plug to your website and hitting send. There’s some fine-tuning that goes into creating a successful email marketing campaign that produces tangible results for your advisory business. Consider applying the following tips as you approach email marketing for financial advisors.

1. Offer an Incentive to Opt-In

Prospective clients may not give out their email information freely when there’s no reason to do so. Offering an incentive that provides clear value can help you to get prospects onto your list. For example, you might offer a PDF file of a financial planning checklist or a link to a webinar you recorded on a financial planning topic that’s relevant to them. Your incentive should be designed to pique a prospect’s curiosity, so they’re encouraged to learn more about you and your business.

2. Use a Strong Subject Line

Email inboxes can quickly get cluttered and if you want your messages to stand out, you’ll need a strong subject line. Otherwise, they can end up in the trash without being opened. A good subject line should have a personal element while including wording that entices prospects to click. Something that’s short, sweet and packs an emotional punch or speaks directly to the reader’s need may be all you need to convince them to open and read the message.

3. Focus on Value

People are busy and they don’t have time to read every email that lands in their inboxes. Your emails need to provide value that will make them want to read them from beginning to end. What kind of content should you be sending? It really depends on your audience and their needs, but you might find success with messages that include practical financial planning tips or updates about current events that might affect them financially.

4. Find Your Timing Sweet Spot

Sending a perfectly crafted marketing email won’t get you very far if you’re sending it at the wrong time. If you’re not sure when you should be sending emails to clients or prospects, you can try experimenting with different times to see when your open rates are the highest. You can then mold your email marketing strategy to fit that schedule.

For example, if you find open rates are highest when you send out emails at 10 a.m. on a Thursday, then you’d want to stick to that schedule consistently from week to week. Doing so conditions your clients and prospects to expect those emails and, if you’re writing great content, to open and click.

5. Segment Your List

If you’re using an email service provider to send out messages, you may have the ability to segment your list. That’s a helpful feature as it can allow you to target specific groups within your customer base with messaging that speaks to them.

For example, say you work primarily with married couples in their 30s and 40s. You might choose to segment your list based on which of your clients have children and which do not, as that can influence the type of financial advice they seek. Dividing your list this way can help you provide content that’s likely to be most valuable to each group.

6. Ask Clients What They Need

One of the easiest ways to leverage email marketing to your advantage is to ask your clients what they need. For example, you might send a survey asking what kind of email content they’d like to read. That can help you produce content that’s valuable and has a better chance of being read, so you’re not wasting your time drafting emails each week.

If you notice that a large number of your subscribers are not opening your emails, you could also send a survey asking them to share why. And if you get no response, you can then decide whether to cull them from your list altogether.

7. Follow Compliance Rules

The CAN-SPAM Act establishes guidelines for email marketing and it’s important to understand what you can and can’t do when contacting your list or collecting information from them. For example, you must include a valid address letting recipients know where the message is being sent from. You must also give them clear direction on how to opt out of your list should they choose to do so.

There are additional guidelines regulating the content of the emails themselves. For instance, subject lines cannot be deceptive and if you’re including affiliate links in your messaging, those must be disclosed to readers. Being aware of the rules can ensure that you’re not running afoul of any federal laws when using email marketing.

8. Don’t Overdo It

Emailing too frequently can put your email marketing efforts in jeopardy. No one wants to be bombarded by multiple emails per day. For some clients or prospects, more than one email per week may be too much. It’s important to understand your audience if you’re going to be sending frequent emails.

Likewise, writing emails that are too lengthy could be a mistake as clients might skim the first few lines and lose interest in reading the rest. When in doubt, shorter is better and if there’s something you’d like to convey that requires more length you could write about it in a blog post, then share a link to it with your list.

While these tips can improve your overall email marketing game, you may need more than just email to get enough client leads to hit your ambitious growth goals. A lead generation service might be a good opportunity for you to speed up your growth. SmartAsset’s Advisor Marketing Platform (AMP) offers financial advisors services like client lead generation, automated marketing and more. Learn about SmartAsset AMP today.

Bottom Line

email marketing for financial advisors

Email marketing for financial advisors isn’t that different from email marketing in other industries, in terms of what it’s designed to do. Finding a strategy that works for you can depend on what your goals are for growing and scaling and what your audience needs and expects from you. If you can communicate the right information to your clients and prospective clients then your connection can be that much stronger and you should be able to grow your business at a faster rate.

Tips for Financial Advisor Marketing

  • Email can be a great marketing channel, but you might need to find more ways to tap into a larger amount of potential client leads. 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.
  • Earning professional certifications can help you deepen your expertise and acumen as an advisor, and potentially attract new clients. If you’re interested in earning a financial planning certification, there are several different routes you can take.

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