“Advisors have skills that organizations need, whether it’s their expertise in investing or running businesses, or their contacts in the local community,” said Curry. “I know eight to 10-person firms who focus on individual charities of the year and do volunteer work and fundraising for them, or who organize an event like a fun-run.”
Wealth management firms can also benefit from advisors who sit on the boards of local groups, said Curry, and there’s no lack of need in most communities.
Social Media
Posting on social media is a start, but not sufficient to generate additional asset growth in an advisory practice, he said. Success comes not from how often an advisor posts, but the quality of their content.
“Another useful aspect of social media is the ability to do in-mail campaigns where you target audiences with a message or sponsored content. For example, if you were doing a webinar on a topic,” said Curry. “Platforms like LinkedIn give you the ability to go in and identify people in a niche, so if you work with people in public companies, you can find them on LinkedIn."
Curry also recommended that advisory firms coordinate their efforts on LinkedIn. Pages should be on-brand and describe what each employee does for clients, and what the firm does in general, and be consistent from employee to employee. Advisors can also use connections on LinkedIn to generate referrals and introductions to prospective clients.