Growth starts with authenticity

The need for financial advisers is growing, but finding new clients in an efficient way is crucial to being able to help meet the increased demand. In today’s world, practices are having success from building an authentic online and strong community presence.

Several advisers joined North’s Director of Growth and Wealth Distribution, Kristine Goodwin, at the North26 Adviser Growth panel to discuss key strategies for building communities that could become sources of potential clients. 

Advisers consistently emphasised the importance of:

• Digital marketing and brand building 
• Community and hyper-local engagement

Marketing and brand building as growth levers 

Many advisers who have achieved significant growth have deliberately invested in their marketing and personal branding to build their presence as subject matter experts. 

Steve Sloane, Managing Director of Link Wealth Group, has built 270,000 followers across all his social media platforms through a consistent education-based content strategy designed to bridge Australia’s financial literacy gap. 

"Consistency is critical… it doesn't matter what the content is," he said.

“People get so worried and caught up about making sure it's squeaky clean and perfect. People don't care. They just want to see you. They want to see your personality. They want to see your brand. They want to get to know you. They want that human touch.” 

Now, clients come to Sloane after years of watching his videos.

Not every adviser has the capacity to look after their own marketing, so hiring a marketing manager to do it for you could help with that growth. 

Billy Amiridis, Managing Director of 360 Financial Strategist, recently hired his first marketing manager – his first non-financial-service hire.

"Spending that money without necessarily the direct line to the ROI was hard to swallow. But if you want to grow, that's what you've got to do."   

While online marketing and branding have become an avenue to grow referrals, it’s not the only way to grow a brand and generate new referrals.

Growth through community and hyper-local engagement 

Advisers on the panel agreed that one of the simplest growth engines is being part of your local community. 

Alex Brown, Financial Adviser of Alex Brown Strategic Financial Planners, built his brand from zero clients in Gawler, South Australia by joining his local Business Network International chapter, engaging with community groups and getting involved with Family Business Australia and Veterans’ Affairs. 

"We're now a trusted brand within that Gawler community," he said.

Troy Chapman, Principal Adviser of Country Wide Wealth, added that community engagement shouldn’t just be about sponsoring the local sports team, but actively participating in the community itself, so people learn to trust you not only as an adviser but as a person. 

“I had two clients who literally walked in off the street, both with fifteen million dollars, to have a chat with me. They were not referred by anybody. They just walked in.”

Simon Everett, Director and Financial Adviser of Elysian Wealth Services, highlighted the importance of building meaningful relationships with accountants as part of a community growth strategy. 

"Ring that accountant up… after a while you'll build a relationship and the accountant will start sending you clients."

Lee Walker, Partner of Quay Wealth Management, also saw his practice grow when he developed strong relationships with his local accountants. 

" If you're growing together, that scale just comes automatically and it's kind of a win-win.”

Creating a community that knows you – whether online or locally – allows natural trust in your character and practice, Goodwin added. 

“There are different approaches to growth advisers can follow, but the most important outcome should be building that trust by being authentic,” she said.

“At North, we believe authentic growth starts with understanding people more deeply by using insights to help practices build trust, strengthen relationships and become part of each client’s retirement story.” 

Learn more about how the North Interactive Wealth Portal is built to support your practice’s growth story.