Planners' Investment in Marketing Lacks Focus

Stolz, Richard F.
December 2003
Journal of Financial Planning;Dec2003, Vol. 16 Issue 12, p42
Academic Journal
The article emphasizes the need for financial planners to invest in marketing their own services. A marketing or non-marketing approach could be seen as a lifestyle choice as much a business strategy or work ethic. And for some planners, separating work from their personal lives can be a challenge. When planners' work is also their lifestyle, the approach they take to client marketing may not be so important. The first rule of client marketing is to retain clients and minimize the need for new ones. No matter how closely planners serve their clients, clients inevitably die or leave. Hence, marketing directed toward attracting new clients is essential. Planners should not limit their marketing efforts to professionals who are not yet acquainted with their services. A marketing strategy of Hanson-McClain is a weekly two-hour financial affairs broadcast on radio.


Related Articles

  • How to catch clients in your web. Mayo-Smith, Debbie // Money Management;11/27/2003, Vol. 17 Issue 44, p26 

    Presents suggestions for financial planners on the retention of clients in the Web. Disadvantages of Flash to Web sites; Way of increasing the usability of the sites; Marketing goals for the sites; Steps for the improvement of planner's profitability. INSET: YOU'LL LOSE THEM ON THE RIGHT.

  • How to Keep Clients When the Economy Slips. Kane, James T. // Journal of Financial Planning;Jul/Aug2008 Supplement, p10 

    The article discusses how financial planners can retain customers during a recession. To keep clients from leaving, being competent is necessary but not sufficient. Planners must also be adept at cultivating relationships. Fundamental to a good relationship are integrity, savvy, proactivity,...

  • 5 Relationship-Building Conversations to Have with Clients. Bowler, Colleen // Journal of Financial Planning;Nov2015, Vol. 28 Issue 11, p23 

    The article looks at recommended relationship-building discussions for financial advisers in interacting with their clients. Topics discussed include planning for uncertainty in relation to situations like health problems, unemployment and accidents, talking about daily habits that are essential...

  • The right tools for the big sell. Chessell, Dave // Mortgage Strategy (Online Edition);6/26/2013, p42 

    The article contends that marketing is the key to keeping customers and acquiring new ones.

  • Sticking Around. Grau, David // Financial Planning;Dec2003, Vol. 33 Issue 12, p84 

    Presents client retention strategies for buyers of financial advisory practices in the U.S. Importance of determining the transition responsibilities of buyers and sellers; Transition period that should be included in the agreement; Acquisition of information about the seller.

  • Forging a successful partnership.  // Finance Week;6/9/2003, p54 

    Asserts that it is important for financial planners to have a clear understanding of his or her client's needs and requirements. Aspects about the client that a financial planner must know; Need to build long-term advice and service relationships with clients.

  • Finding Your Niche. Sisk, Michael // Bank Investment Consultant;May2006, Vol. 14 Issue 5, p32 

    The article discusses the strategy on establishing a niche by financial planners. To concentrate on a particular customer niche, financial planners should be able to penetrate and establish their credibility. Moreover, they need to have an affinity for the group they specialize in. Hard work is...

  • Top Ten Capabilities of Your CRM Application. Friedman, Gregory H. // Journal of Financial Planning;Nov2004, Vol. 17 Issue 11, p38 

    This article enumerates the top ten capabilities that customer relationship management (CRM) systems that financial planning or wealth management firms must possess. First, a great CRM system must provide easy access to all relevant client information. A great system for financial planners...

  • Tool Time. Kautt, Glenn G. // Financial Planning;Jul2007, Vol. 37 Issue 7, p39 

    The article discusses some management tools that can be used to enhance the services provided by a financial planning firm. The author recommends a client relations management he developed using tools from coaching programs he had participated in as well as feedback from an industrial...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics