How to Find a Marketing Coach for RIAs

Marketing is an important part of business planning and development for RIAs, but getting it right can be challenging. Keeping up with evolving trends is enough to make your head spin, and what attracted clients yesterday isn’t always guaranteed to work tomorrow. Working with a coach can help you tighten up your marketing game for maximum impact. The key is knowing how to choose the right marketing coach for your firm.

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4 Ways to Find a Marketing Coach for RIAs

A marketing coach is a professional who has experience in marketing, which they then use to help businesses grow. Marketing coaches can work with clients from a range of industries and backgrounds or concentrate their efforts in a single sector, like financial services.

If you’re considering coaching to grow your RIA, here are some of the best places to look for help.

1. Your Network

Your network can be an invaluable resource when it comes to looking for a marketing coach. You may even know an advisor or two who has worked with a coach before and is willing to recommend them to you.

Review your connections for potential candidates you could ask about marketing coaching. You could send each one a short, friendly email to inquire about their experience, and ask if they’d be able to offer a referral to their coach.

If you’re in the initial stages of network-building, you might turn to social media for help. For example, you might search LinkedIn for terms like ‘marketing coach RIAs’ or ‘RIA marketing coach,’ and then send connection requests to profiles that look promising. That could open the door to a conversation about what you need help with to grow your business.

2. Professional Associations and Organizations

Professional associations and organizations are another pathway to finding a marketing coach for RIAs. You may be able to get referrals or recommendations for how to find a coach, or get access to mentoring services and even free marketing resources.

Here are a few organizations that may be able to offer guidance on coaching:

You may also look for business associations in your local community that offer guidance on marketing. For example, you can try your local chamber of commerce or small business development office if you’re unsure where to start.

3. RIA Conferences

An advisor reviews how to find a marketing coach for RIAs.

Attending RIA conferences is not only an opportunity to stay up to date on the latest industry trends and expand your network, but it can also be a great chance to meet with marketing experts or get a referral for a marketing coach.

Look for conferences that are hosting panels on marketing or plan to feature guest speakers from the marketing realm. If there are meet-and-greets scheduled, you can use those as a chance to get to know the marketing experts attending. A 10-minute conversation could help you make the connection you need with a coach.

If there are no financial advisor conferences upcoming in your area, or your schedule doesn’t allow you to be away from your business for several days at a time, look for networking events on a smaller scale.

For example, your chamber of commerce or local community college may be hosting a workshop series for entrepreneurs that includes a lecture on marketing. That might be more doable for your schedule, and even if you don’t make a coaching connection, you could still walk away with some expanded marketing knowledge.

4. Online Searches

An internet search may be all you need to find a coach. Here are a few search terms you may use to generate results:

‘Marketing coach RIAs’
‘Marketing coaches RIA’
‘Marketing coach for RIAs’
‘RIA marketing coach’
‘RIA marketing coaches’
‘Marketing coach financial advisor’
‘Financial advisor marketing coach’
‘RIA coaching services’
‘RIA coach marketing’
‘Coaching services RIA’
‘Financial advisor coaching service’

You can experiment with different combinations of these keywords to see what turns up. As you review results, you may notice that the ones near the top are marked as ‘sponsored.’

Some search results are organic, meaning websites show up at the top of the list because the search engine has identified them as high-quality links. Others snag top placement because they’re paying for premium advertising space. That’s where the sponsored label comes in.

Paying for digital ads doesn’t mean a site is lower-quality or less reputable. Ads are one of the most effective ways for financial advisors to grow a following and increase their visibility in searches, after all. However, it’s worth noting that distinction when deciding which links you’d like to visit.

Tips for Choosing an RIA Marketing Coach

Financial advisors can benefit from a marketing coach’s expertise, but alignment matters. You want to work with a coach who has the experience and expertise you need, and who meshes well with your personality.

Here are some helpful questions to ask that can help you find the right coach.

How long have you been coaching?
Do you hold any professional coaching certifications or designations?
Is your client base primarily RIAs or financial advisors? If not, what other types of clients do you work with?
Can you tell me about your RIA clients? For example, what’s the typical AUM they manage, or what niches do they serve?
What is your marketing philosophy or approach?
How do you frame the services and support you offer to RIA clients?
What are your expectations for clients?
What expectations do RIA clients come to you with for their coaching outcomes?
How often do you communicate with coaching clients?
Are clients required to sign a contract? If so, how long is the contract?
What do you charge for your coaching services?

If the coach has a website, review it to see if they’ve published any testimonials from previous or current clients. You may also search online review sites or the Better Business Bureau (BBB) to see what clients have to say and if there are any complaints on file.

You can also look for a coach who offers a free consultation and set aside 30 minutes to an hour to meet with them. That should be sufficient to help you gauge the value they may bring to your business and get a feel for what they might be like to work with.

Bottom Line

A marketing coach could be exactly what you need if you’re struggling to find direction with marketing, or if you’re dissatisfied with the results you’ve been seeing from your efforts. Finding the right coach can take time, but it may be worth it to go slow and steady if the ultimate result is a harmonious working relationship.

Tips for Growing Your Advisory Business

Marketing is essential for increasing your firm’s visibility in a competitive financial services landscape. The challenge for many advisors is deciding how to allocate their time and resources to garner the best results. If you’re looking for a way to simplify some of your marketing tasks, you might consider working with a partner like SmartAsset AMP. SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service that 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 you develop your marketing plan, consider where compliance fits in. The SEC’s marketing rule, for instance, is very specific about what advisors can and cannot say when advertising their businesses. You’ll also need to maintain proper records of marketing communications, including emails, direct mail marketing materials and social media content. Being compliant-aware can help you avoid any mistakes as you build buzz for your firm.