5 Email Marketing Tips for Financial Advisors

Email Marketing for Financial Advisors - by Jaclyn Boruch

Email is a quick and efficient way to communicate with anyone and everyone—your clients, prospects, staff, vendors, colleagues and associates, etc. It’s a powerful tool to start, maintain, or nurture relationships. Consider a few of these statistics:

  • 30.4% of clients want to hear from their advisor weekly.

  • 50% of leads are qualified, but not ready to buy or invest yet.

  • 86% of professionals name email as their favorite mode of communication.

What is Email Marketing?

It can be a single email you send regularly each month (like a newsletter) or it can be a series of emails in a planned nurturing campaign (say, to a prospect who requested information on your website). But email marketing is more than just flooding inboxes with a generic message. Thoughtful planning is required to craft an email that will provide value to the intended recipient.

Here are five tips to improve your email marketing:

Tip #1 Finetune Your Frequency

There’s a fine balance between sending too few and too many emails. Not enough, people will forget who you are. Too often, and they’ll unsubscribe or worse—they’ll click SPAM. Properly segmenting who you are emailing will help you to determine your frequency and content. Your current clients will want to hear from you more often with vehicles such as a monthly newsletter or a personalized birthday email. On the other hand, your prospects don’t want to feel harassed by you; they want informative content.

Tip #2 Divide and Conquer, I Mean Nurture

The days are long gone where sending one, mass-produced, blanket email was the only way to communicate to your audience. You need to segment your email list as much as possible. Why? Segmented email campaigns have an open rate that is 14.32% higher than non-segmented campaigns. To start, a simple divide even just between clients and prospects (that’s the very basic level of segmentation and targeting) is a good start. Speaking specifically to them is key to creating a trusted relationship with your audience. According to a survey by GetResponse, 78% of the financial industry uses no targeting or a minimum set of criteria. This is a simple adjustment to help you stand out from the crowd.

Tip #3 Optimize for Mobile

Your email campaign should be mobile-friendly because 66% of email is read on mobile devices. Keep in mind, as Millennials and younger generations become your main target audience, this percentage will increase. Don’t write a fantastic message for your clients and then have it get lost or ignored because it isn’t optimized for mobile.

Tip #4 Test, Test, and Test Again (A/B Testing)

You may have written the most convincing, click-worthy email. But your prospects will be the ones who decide. Even with the right targeting, the difference of a word in your subject line, choice of stock photo, or placement of a link can make or break your email. To determine what your audience likes the most (and what you should give them more of), you’ll need to run split A/B testing on your emails. Did an email with an URGENT subject line get opened more often? Or did the subject line with a clever question result in more opens? Did a photo with a blue or green background get more clicks?

A/B testing is where psychology and marketing intersect to influence human behavior—and there's a real science to it.

Tip #5 Be a Person, Not an Email

This goes without saying, but we’re going to say it anyway. As a financial advisor, you are managing someone’s money. You, your expertise, and your brand’s reputation are why they chose your firm and didn’t opt to become a number in the hallways at JP Morgan. Make sure that you can be seen in your emails and online correspondence. Brand yourself.

Email marketing—as a concept—is simple: design, write, and send. However, it is not the only thing you should be doing to market your brand. You need a comprehensive marketing plan, not just a bunch of emails sent out here, and there. Consistency is key, otherwise you risk appearing lazy and haphazard—that’s not the look you want when you are managing wealth.

Contact us with questions or comments.

Jaclyn Boruch

Jaclyn Boruch


Wealth Marketing Group


1. Morningstar Office Report

2. Hubspot

3. MarTech Advisor

4. Get Response

#EmailMarketing #FinancialAdvisor #RIA

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