This article gets into what moves wealth managers that want to improve their business can do in terms of marketing strategy. With a need to bring in new clients – even more urgent amid multi-trillion dollar wealth transfer – this is an important topic.

Business development is make or break for firms – if they don’t win new clients, fend off competitors and stay on top of trends, they eventually die. More positively, a firm that is moving forward is a fulfilling place to be – new resources, opportunities to serve clients in new ways and build careers. As a result, developing a strong marketing strategy is essential. That is definitely true for the large number of newbie RIAs and other wealth managers that have been established, sometimes by breakaway teams leaving large, established banks and wirehouses.

Discussing the important parts of marketing strategy is Rosemary Denney, the founder of Wealth Matters Consulting

The editors are pleased to share these insights; if you wish to comment and stir the pot of debate, email tom.burroughes@wealthbriefing.com and amanda.cheesley@clearviewpublishing.com

For the past 20 years, we’ve worked as marketing professionals in wealth management. We’ve seen what works to foster growth, observing over the years that the firms with a strong marketing strategy could grow intentionally at a higher pace with the right clients. Over the decades, the marketing approaches have evolved with technology, but the premise remains unwavering – communicate your value proposition through a content-based marketing system consistently over time. This approach is undeniably superior to lead-generating, paid strategies, not only helping to foster relationships with your prospects leading to growth, but also with current clients and COIs, strengthening those relationships and leading to more referrals. 

As 2025 approaches, wealth management firms must make a decision: either prioritize an effective marketing strategy to stay competitive or fade into obscurity as other firms communicate with their clients, prospects and ecosystem of professionals. In today's environment, marketing is no longer optional; it has become table stakes. 

But don’t worry – this is not an impossible task. Whether you opt to hire an external firm to do the heavy lifting or build a team internally, we’ve outlined ten fundamental steps to help you develop and execute a marketing strategy that will help you define who you are, what you do and why you are the right fit for your target audience. 
 
1. Define your brand identity
Every strong marketing strategy begins with a clear understanding of your firm's identity. Take time to define who you are, what you do, who you serve and what sets you apart from your competition. This brand identity should form the cornerstone of all your marketing activities – from how and what you communicate to the look and feel of your collateral.  
 
2. Focus on your target audience
This may be the most important piece. Identifying your ideal client profile is critical to shaping your strategy. Start by analyzing your top clients –their demographics, challenges and goals. Use these details to create personas – a representation of what type of clients benefit the most from your services and with whom you enjoy working. Once you define your ideal client, work on identifying their most common challenges. This can come from the conversations you have every day as part of your work with client families. 
 
3. Invest in the visuals
Your brand's visual identity should connect with your ideal clients on a personal level, and you should not skimp when it comes to your brand’s look and feel. Most advisors are not graphic designers, so make the investment and hire a team to help you. Invest in professional logos, consistent color schemes, well-designed collateral materials and a user-friendly website that reflects your understanding of their needs and captivates your audience through a compelling visual experience. Communicate your knowledge and expertise through content that showcases your thought leadership, media exposure and proven results.
 
4. Develop a content calendar
Identify the top 12 questions or challenges your clients face. These insights will form the foundation of your content calendar. Use tools like ChatGPT to brainstorm additional topics relevant to your audience. Your goal should be to provide critical information to your audience – clients, prospects and COIs – about these top challenges in an effort to help them make informed decisions about their wealth. 
 
5. Start with content that will resonate with your audience
Choose a content format that best suits your audience's preferences. Podcasts offer in-depth discussions, making them ideal for high net worth individuals. Videos provide quick, digestible updates for institutional clients. Webinars engage key influencers like accountants or attorneys and tap into their networks. Each format should focus on delivering value and addressing your audience's real challenges.
 
6. Amplify your content
Maximize your content's reach by repurposing it across multiple platforms. Share podcasts on your website and social media, break them into short clips for more engagement, create blog posts based on podcast topics and capture video snippets for YouTube. This consistent approach helps maintain momentum and keeps your audience engaged. It also helps to fully leverage each piece of content – it’s not easy to produce an interesting piece of thought leadership, so make sure to leverage each piece as much as possible! 
 
7. Sprinkle in a lead magnet or two
Cultivate your list by gathering contact information – valuable resources like estate planning checklists, quarterly investment trend reports, legacy planning guides and economic outlook newsletters are great tools to engage a new audience. While these are not a replacement for thought leadership, these lead magnets can expand your audience and encourage prospects to provide their contact details, helping you build a relationship from the first interaction. 
 
8. Track success with analytics
We have so much information at our fingertips to make informed decisions, and marketing has become an exact science. Use tools like Google Analytics to track the performance of your marketing efforts. It's important to interpret the data, identifying what resonates and where to adjust. The regular review allows you to rework your strategy if needed, to be sure you're always moving in the right direction.
 
9. Evaluate and adjust Regularly
Avoid the temptation to “set it and forget it.” Marketing is all about testing and adjusting – over and over and over again. Regularly assess your marketing efforts. Is your audience responding at all to the content you are distributing? You should be getting feedback – negative or positive – if you are sending out content. Collect feedback from your audience and adjust your approach as necessary. Enhance your approach over time and layer in other forms of content. It’s important to have a rich library of thought leadership created over time.  
 
10. Do not delay
Analysis paralysis can be the death of us. Don’t wait to get started – even if you’ve been struggling with growth for a decade or two, it is never too late to get started. And the longer you wait, the more time you give your competitors to reach your clients. 
 
While any successful marketing strategy takes thought and intentionality, it’s not an impossible task. Breaking down the process of kicking off your marketing into ten doable steps can make the task seem more approachable, but if this is making you sweat, don’t hesitate to call in reinforcements with an experienced marketing professional focused on your industry. 

About the author

Rosemary Denney founded Wealth Matters Consulting in 2012 to help wealth advisors, multi-family offices and RIAs create compelling brands and grow their business. Rosemary Denney has worked in the wealth industry for nearly 15 years. 

Prior to founding Wealth Matters Consulting, she worked at GenSpring Family Offices, one of the world’s largest and fastest-growing multi-family offices. She joined GenSpring in 2007 as the firm underwent a complete re-brand and name change to form the now globally-recognized brand. Managing projects in marketing and media relations, she worked with national media and industry publications, working to create and execute the marketing and public relations plans for all of GenSpring’s 14 offices nation-wide. Rosemary Denney began her career in politics, working with the City of Tampa’s Mayor Pam Iorio as part of her media relations team after graduating from Auburn University.