Financial influencers or ‘finfluencers’ have proven to be a popular, though unconventional, source of information and education for people who are interested in learning more about money. While many of the top influencers tailor their content to investors and everyday consumers who are navigating the realm of personal finance, some speak directly to the interests of financial professionals and advisory firms. If you’re looking for new industry experts to follow, it helps to know which influencers have earned a solid reputation among advisors.
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7 Financial Influencers for Financial Advisors
Michael Kitces is a financial planner, educator and influencer whose focus is helping other financial planners better serve their clients. His site, Nerd’s Eye View, has consistently been voted as one of the most influential blogs for financial advisors with content that spans a wide swath of topics related to practice management.
In addition to a blog, Kitces shares his knowledge and expertise via podcasts, live webinars and online classes. Webinars feature recognized industry experts who discuss everything from how to build a better advisor website to compliance in tax planning. As an added perk, advisors who invest in a Kitces Premier Membership can earn up to 100 hours of continuing education (CE) credit.
A good marketing strategy can help your advisory business thrive, something influencer Samantha Russell knows very well. Russell’s expertise spans digital marketing, branding, lead generation and search engine optimization (SEO) with a focus on the financial services industry.
Having delivered 600 presentations to thousands of advisors, RIAs, broker-dealers and custodians, Russell is well-versed in what it takes to create an effective marketing strategy that gets results. She shares what she’s learned through weekly videos, workshops, webinars and presentations. Recent topics covered in her weekly tip series include how to master lead generation and referrals, and advisor website best practices.
3. Bob Veres
Bob Veres is the editor and publisher of Inside Information, an influential online resource for financial planners. Veres is a journalist, not an advisor, but he boasts an impressive career covering financial services that spans nearly four decades.
Inside Information features a collection of curated information for financial professionals, with members receiving access to exclusive articles they can share with clients. Practice management is a frequent topic, as are marketing and portfolio management. The Insider’s Forum conference offers advisors an opportunity to connect and network with thought leaders while discussing the latest industry developments.
Dr. Daniel Crosby is a psychologist, behavioral finance expert and host of the Standard Deviations podcast. His content focuses on how mindset and money intersect, something that might be of interest to advisors who want to better understand why their clients think—and act—the way they do.
Podcast episodes feature a guest expert, and each episode spans a unique topic. For example, advisors can tune in to learn how to grow their business through the use of emotional intelligence or how to overcome objections from clients who may be resistant to change.
Steve Sanduski creates content for RIAs, financial advisors, financial planners and CEOs who want to level up and grow their businesses. As a certified financial planner and entrepreneur, Sanduski leverages his background and experience to help his audience succeed in reaching their goals.
Advisors can browse blog articles, tune in to Sanduski’s podcast or sign up for the Good to Know (GTK) email newsletter, which is designed with growth-oriented advisors in mind. Sanduski also offers coaching for advisors and financial professionals who need help clarifying their business strategy, building out services and perfecting their marketing plans.
6. Ben Carlson
Ben Carlson is a chartered financial analyst (CFA) with Ritholtz Financial Management, as well as the author of a finance blog that’s focused on wealth management, investments, the markets and investor psychology. Carlson touches on many of those same topics in the Animal Spirits podcast, a weekly show he hosts along with Michael Batnick, managing partner at Ritholtz Wealth Management.
Carlson’s content may appeal to advisors who are interested in getting a breakdown of what’s happening in the market or which investment trends look the most (and least) promising. While he doesn’t necessarily create content with an advisor audience in mind, there’s a lot here that financial professionals may find valuable.
7. Bill Cates
Bill Cates is a recognized expert in the area of client acquisition as well as the host of a highly-rated podcast for financial advisors. The podcast features conversations with successful advisors discussing a variety of topics, ranging from how to attract new clients to your business to how to take a generational approach to financial planning.
The Cates Academy is a comprehensive online training program for advisors who are interested in developing efficient systems for attracting new clients to grow their income. Cates also offers a coaching program to help advisors who may be struggling with how to scale their businesses effectively.
Frequently Asked Questions
What Is a Financial Influencer?
A financial influencer is someone who leverages social media and/or their own website to share information and educate about finance with their audience. Influencers may be active on one platform or many and are often characterized by having sizable followings. They “influence” decision-making by offering recommendations on money management or promoting financial products.
Can Financial Influencers Offer Financial Advice?
Financial influencers can give financial advice but following that advice can be risky if it’s unqualified or if the influencer lacks the proper credentials. Following the guidance of an influencer can also be problematic if the individual fails to make certain disclosures required by the Federal Trade Commission (FTC).
For example, if an influencer is recommending a digital wealth management platform to their audience as part of a sponsored brand deal or an affiliate marketing relationship, they must disclose to their audience that they’re being paid to make the recommendation. Disclosures are a compliance requirement to ensure that those being influenced have all the details they need to make an informed decision.
How to Become a Financial Influencer?
Advisors may follow influencers to get the latest updates on industry trends or market news, and some might consider becoming influencers themselves. Becoming a financial influencer typically means determining a target audience, deciding what type of content to create and choosing the right platform. Having a solid marketing plan that includes social media promotions is also essential, as you’ll need to actively drive traffic to your channels initially.
Bottom Line
Following financial influencers who cater to advisors can be a terrific way to gain insight into the latest industry trends or absorb helpful information on how to grow your practice. Checking out different financial advisor blogs, podcasts, YouTube channels or social media channels can help you find influencers to follow based on the type of content you’re most interested in.
Tips for Growing Your Advisory Practice
- If you’re looking for a way to add new clients, you might consider working with an online lead-generation service. SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service that 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.
- Creating digital content isn’t one-size-fits-all and it’s important to think about what’s most likely to appeal to prospective clients and current clients. For example, that might include short-form videos, long-form videos, blog posts, and in-depth articles—it can all depend on how well you know your target audience. If you’re unsure how to proceed with marketing online, you might consider hiring a social media consultant or working with an established marketing agency that specializes in assisting advisors.
Photo credit: ©iStock.com/Marco VDM, ©Michael Kitces, ©Samantha Russell, ©Bob Veres, ©Dr. Daniel Crosby, ©Steve Sanduski, ©Ben Carlson, ©Bill Cates, ©iStock.com/Drazen Zigic