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Financial advisors get into the business to try to help their clients, not to become marketers. And yet marketing is essential to their business. A lack of communication is a top reason clients cite for leaving their advisors. Consistent marketing builds trust and makes clients feel valuable. A marketing strategy that reaches out to current and potential clients regularly is a critical competitive advantage.

A 2019 survey found that strong communication between advisors and clients is key for retention. Eighty-five percent of respondents said that communication style would be considered when deciding to retain their advisors, and even more, 88 percent, said communication would impact whether or not they would refer the advisor’s services to someone else.

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