How to Build an Email and Mailing List as a Financial Advisor

Email is one of the most cost-effective ways to stay in touch with clients and connect with prospects who need professional financial advice. Advisors who aren’t tapping into email’s potential as a marketing tool may be missing opportunities to convert more of those prospects to clients. Building an email list as a financial advisor is a straightforward formula, although it may take time for your efforts to gain traction.

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Building a Financial Advisor Email List, Step by Step

Getting started with email marketing requires a certain amount of planning, and it’s helpful to know where to begin with your approach.

As a financial advisor, your ability to communicate clearly and consistently with both clients and prospects can directly influence your growth. And email provides a direct line of communication, one that doesn’t rely on social media algorithms or advertising budgets. But to make it effective, you need a structured system to reach the right audience.

Here’s how to develop a mailing list that can help grow your financial advisor business.

1. Choose an Email Marketing Platform

You’ll need to select an email marketing platform through which to schedule and send your emails. Constant Contact, MailerLite and MailChimp are examples of email marketing platforms that allow you to draft and send emails to a mailing list with a few clicks, but there are plenty of others to choose from.

Consider these factors as you compare options:

• Ease of use
• Automations and other tools
• Pricing
• Customer support
• Integrations

Integration allows you to seamlessly transfer prospect and client data from your customer relationship management (CRM) platform to your email marketing platform, rather than having to enter it manually.

2. Create a Sign-Up Form

You’ll need a sign-up form to collect names and email addresses so they can be added to your email list. Most email marketing platforms provide you with customizable templates that you can use to create these forms.

Once created, you can embed them on your advisor website using a plugin. A plugin is an add-on tool that enhances the capabilities of the framework your website is built on. If you built your website yourself, for example, you may have used WordPress as your foundation. You can add your forms to multiple pages of your site, or create a simple Contact Us page where the form is embedded.

When someone enters their name and email address on the form and submits it, their information is sent to your email marketing platform automatically. If you have several sign-up forms in different variations, you can use tags to segment your email subscriber list.

3. Ask Current Clients to Subscribe

There’s no better place to begin building your email list than with your current clients.

You’re not required to ask them to join your list. The CAN-SPAM Act permits you to send marketing emails without someone’s consent, as long as you tell them they can opt out of receiving them and give them clear instructions on how to do so¹. However, it just makes sense to ask clients if they want to be added to your list, rather than presuming.

The simplest way to encourage clients to subscribe is to send them a short email explaining that you’re starting a digital newsletter and would love for them to subscribe. You can embed a link to your sign-up form’s landing page in the email. If they click through and fill out the sign-up form, they’ll be added to your list.

4. Create a Lead Magnet

A lead magnet is a free resource that you offer to prospects in exchange for their email address. Lead magnets can help you grow your mailing list quickly if what you’re offering resonates with the type of clients you hope to attract.

Free guides, workbooks, checklists, quizzes and calculators are examples of lead magnets that your ideal clients may find valuable. Developing a buyer persona can help you get into the mind of potential clients and determine which type of lead magnet they may be drawn to.

You can use design tools like Canva or Google Docs to create your lead magnets. You’ll then need to upload them to your email marketing platform and create a sign-up form for them. You can create a trigger that will send the lead magnet to a new subscriber’s inbox once they add their name to your list.

5. Promote Your Mailing List

Once you have the mechanics of an email list down, it’s time to focus on gaining subscribers. To do that, you’ll need to promote your newsletter to encourage people to sign up.

Here are some ideas for collecting new email subscribers:

• Make it easy to share your emails. If you have people on your mailing list already, encourage them to share the emails they receive from you. Add social media buttons or ask readers to forward the message to someone they know who might enjoy it. You can also include a link to your sign-up form in the message so that anyone who receives a forwarded email can easily join your mailing list.
• Promote your lead magnet on social media. Add a link to your sign-up page in your bio and routinely share posts offering a teaser of what the lead magnet offers, with a call to action that nudges followers to join your list.
• Collect emails in person. Trade shows, conferences and community events offer a chance to connect with prospects in person. After initiating a conversation, you can ask if they’d like to share their email to be added to your mailing list.
• Try seminar marketing. Hosting an online seminar or webinar allows you to take a deeper dive into a topic that’s of interest to prospects and showcase your expertise. You can have those who are interested in attending sign up via email, allowing you to add them to your mailing list.

You could also use digital ads to promote your lead magnet or an online seminar you’re hosting. You’ll have to decide if it’s worth the investment to leverage ads to grow your list.

Email Marketing Tips for Advisors

Observing certain best practices can help ensure that your mailing list continues to grow. Here are a few tips for navigating this part of your marketing plan:

• Be consistent. Subscribers are more likely to be interested in what you have to say if you show up in their inboxes regularly. Develop a schedule for sending emails so you’re connecting with your clients and prospects at the same time, whether it’s weekly or monthly.
• Mix it up. Email marketing can get stale if you’re saying the same things over and over again. Try using different formats or switching up the topics you cover to keep your newsletters fresh so your subscribers aren’t bored.
• Learn how to craft a strong hook and headline. Some prospects may read every email you send. Meanwhile, others might skip them if the subject line and headline aren’t compelling. You might need to try some A/B testing to find the formula that works for you.
• Include a strong CTA. Every email you send should include a call to action that prompts your subscribers to take a specific next step. The nature of the CTA should reflect the type of email you send. For example, if you’re using a drip sequence to nurture new leads, it would make sense to include a CTA to schedule a call. An email blast campaign telling subscribers about an upcoming seminar or event would naturally include a CTA to register for a spot.

Lastly, remember compliance considerations when using email to market to prospects and clients. The SEC’s marketing rule governs the types of claims you can make in your marketing materials, including emails. Recordkeeping rules, meanwhile, specify what type of communications you’re required to keep records of and how long you must maintain them.

If you anticipate gaining subscribers from Europe, you’ll need to observe General Data Protection Regulation (GDPR) guidelines. GDPR rules require that you have subscribers give explicit consent to opt in before joining your email list². You should have the option to design GDPR-compliant sign-up forms through your email marketing service.

Bottom Line

A financial advisor email list can help enhance your marketing strategy and lead to stronger relationships with clients and prospects. Consistently delivering valuable content and giving your subscribers space to reach out and ask questions are the keys to building trust.

Tips for Growing Your Advisory Business

• Email may be one piece of the marketing puzzle, but advisors can also leverage social media, search engine optimization, digital ads and collaborations to bring new leads into the pipeline. A partnership with an advisor marketing platform like SmartAsset AMP can offer a direct path to prospects who are looking for a financial professional to work with. SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.
• Technology and automation can make building an email list as a busy financial advisor easier and less time-consuming. For example, you may use AI tools to outline the content of your emails. Meanwhile, scheduling tools let you plan and set your sends, helping you stay consistent with your messaging.

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