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A well-defined marketing plan that includes multiple strategies can make it easier to reach your target client base and grow your book of business. The typical advisor uses five different marketing tactics, according to a 2026 Kitces report on financial planner marketing.1 Familiarizing yourself with the marketing channels that high-growth advisors rely on most often can help you decide where to focus your time, effort and resources.
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How Advisors Market Their Businesses
According to Kitces, advisor marketing follows a three-stage funnel that involves building awareness, engaging prospects and establishing credibility, and converting prospects into clients.The marketing strategies advisors use often include a mix of digital and offline channels.
The following tactics ranked as the most popular among advisors surveyed for the 2026 Kitces report:
| Marketing Tactic | Advisor Usage Rate |
|---|---|
| Client referrals | 88% |
| Centers of influence | 64% |
| In-person networking | 46% |
| Social media | 36% |
| Search engine optimization (SEO) | 32% |
| Newsletter | 31% |
| Client events | 30% |
| Blogging | 27% |
| Seminars | 23% |
| Online advisor listings | 18% |
Apart from shifts in the percentages, these are the same 10 marketing tactics advisors relied on most heavily according to the 2024 version of this report. That suggests that once advisors find an approach they’re comfortable with, they stick with it.
Other marketing strategies used by advisors include writing for third-party platforms, sponsorships or paid ads, podcasts, cold-calling, digital cold outreach and direct mail campaigns. In terms of average satisfaction, the results are slightly different.
| Marketing Tactic | Advisor Satisfaction Rating |
|---|---|
| Referrals | 7.3 |
| Seminars | 5.8 |
| Centers of influence | 5.7 |
| Custodial referrals | 5.7 |
| Traditional solicitors | 5.6 |
| Book writing | 5.3 |
| Answer engine optimization (AEO) | 5.1 |
| Client events | 5.0 |
| Digital solicitors | 4.7 |
| Online advisor listings | 4.5 |
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Effective Financial Advisor Marketing Tactics
While there are plenty of ways you can market your business, some may produce better results than others. When measuring how successful a marketing tactic is, it’s helpful to consider the overall return on investment. One way to measure that is by revenue generated per new client.
Here’s how success rates and revenue per client for different advisor marketing tactics compare, according to the Kitces study:
| Marketing Tactic | Success Rate | Revenue Per Client |
|---|---|---|
| Traditional Solicitors | 100% | $10,000 |
| Client Referrals | 97% | $6,715 |
| Digital Solicitors | 80% | $8,000 |
| Centers of Influence | 79% | $7,500 |
| Online Advisor Listings | 79% | $6,000 |
| Seminars | 75% | $7,722 |
| In-person Networking | 70% | $5,000 |
| Custodial Referrals | 67% | N/a |
| Third-Party Review Sites | 61% | $3,144 |
| Videos | 59% | $4,000 |
Out of all the financial advisor marketing tactics included in the report, traditional solicitors yielded the highest revenue per new client and had the highest success rate, with digital solicitors close behind. Solicitors, for the purposes of the Kitces report, are third-party individuals or professionals who refer prospective clients to an advisor, typically in exchange for payment or compensation. That’s something to keep in mind if you’re considering paying for referrals.
How much are advisors spending on these types of marketing strategies? That’s a helpful question, as it can put the success rate and revenue per new client into perspective. Here’s how client acquisition costs compare for the same marketing tactics.
| Tactic | Average Aggregate CAC |
|---|---|
| Traditional Solicitors | N/A |
| Client Referrals | $3,198 |
| Digital Solicitors | $16,804 |
| Centers of Influence | $7,371 |
| Online Advisor Listings | $1,366 |
| Seminars | $15,447 |
| In-person Networking | $10,931 |
| Custodial Referrals | N/a |
| Third-Party Review Sites | $1,402 |
| Videos | $31,170 |
Comparing average revenue per new client to average CAC can help advisors estimate the potential return on investment. It’s worth noting that client acquisition costs and time spent marketing generally increase as revenues increase. For example, firms with less than $250,000 in revenue spent $815 on average to acquire new clients while firms with more than $5 million in revenue spent $15,768 on average, according to Kitces.
If you’d like to generate more revenue per new client, marketing to more high-net-worth clients could help you achieve that goal. Keep in mind, however, that these clients may require a more nuanced approach and there may be greater competition for a smaller pool of prospects.
Another helpful metric to consider in this situation is the efficiency of your marketing plan. The Kitces report found that while smaller firms spent the least amount of money and time on client acquisition, their marketing practices were significantly more efficient than larger firms. The report found that as firm size increases, marketing efficiency decreases. Having that knowledge could help you minimize or avoid inefficiencies that act as a drag on your marketing strategy.
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Deciding Which Financial Advisor Marketing Tactics to Use
Marketing is not one-size-fits-all and your strategy should reflect your firm’s goals, capabilities and the clients you most want to attract. Developing a marketing plan that’s effective and efficient begins with understanding your ideal clients and your overall market niche.
Developing one or more buyer personas can offer insight into who your prospects are, the financial challenges they face and how they navigate the world both online and offline. That insight can help inform marketing decisions and guide campaigns that resonate with ideal clients.
Next, consider your marketing budget. If you’ve only recently gone independent, you may have a smaller pool of funds to dedicate to marketing. You may need to lean into low-cost marketing tactics initially, such as networking and developing centers of influence, social media and search engine optimization. Once you begin to gain some traction, you may branch out to paid ads or lead generation services that connect you with qualified referrals.
As you implement your plan, track your progress. Some of the KPIs you might use to measure success include:
- Customer acquisition cost
- Revenue acquisition cost (RAC)
- Search rankings and site visits (for SEO)
- Open-rate and click-through rates (for email newsletters)
- Engagement rates (for social media content)
- Sign-up and attendance rates (for webinars and seminars)
- Conversion rates
- AUM and revenue per new client
Your customer relationship management (CRM) platform may include tools that allow you to track some or all of these metrics in one place. Reviewing them on a regular basis, either monthly or quarterly, can offer insight into which marketing tactics are working and where you may need to pivot to see better results.
And if you’re looking for a simpler way to market your business, SmartAsset AMP can help you automate your lead generation and marketing efforts.
Frequently Asked Questions (FAQs)
Which Advisor Marketing Tactic Is Most Popular?
The most-used marketing strategy among advisors is client referrals. In the Kitces report, nearly 90% of advisors reported relying on referrals for growth. Getting more client referrals begins with delivering superior service but it can also include developing a strong referral program and actively asking clients to connect you with friends and family members who could benefit from your services.
Which Advisor Marketing Tactics Are the Least Effective?
Marketing tactics vary in their effectiveness, efficiency and cost. If you measure effectiveness by success rate, the tactics that ranked near the bottom of the list include social media, blogging and newsletters, according to Kitces. Actual results may be quite different from one firm to the next. That doesn’t mean you should abandon these strategies, but you may need to consider how much of your time and marketing budget you’d like to devote to them.
Should Advisors Pay for Leads or Referrals?
Lead generation and referral generation services can act as a bridge between advisors and interested prospects. Whether it makes sense to pay for leads or referrals hinges largely on the quality and reliability of these platforms. SmartAsset AMP, for instance, connects advisors with high-intent investors who fill out a detailed questionnaire on their financial situation, assets and goals.
Bottom Line
With so many financial advisor marketing tactics to choose from, it’s easy to feel overwhelmed, especially if your firm is early stage. It may be prudent to adopt fewer strategies initially to maximize resources and test results, before expanding your marketing budget. Once you have some clients under your belt, you can focus on strengthening those relationships with superior service to generate more referrals.
Tips for Growing Your Advisory Business
- 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.
- As a busy advisor, your time is often your most valuable resource. Outsourcing marketing to a third-party agency is something you may consider if you’d like to have more hours in your day to focus on serving clients or handling other business tasks. If you’re considering working with a marketing agency, take time to vet them carefully. Ask questions about the types of advisory firms they typically work with, their track record of producing results and the fees they charge.
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Article Sources
All articles are reviewed and updated by SmartAsset’s fact-checkers for accuracy. Visit our Editorial Policy for more details on our overall journalistic standards.
- Tenenbaum, Mark, et al. Kitces Report: How Financial Planners Actually Market Their Services (2026). Kitces, https://www.kitces.com/kitces-report-financial-planner-advisor-marketing-tactics-strategies-referrals-centers-influence-networking/.