Top 5 Client Acquisition Techniques For 2024

Legendary college football coach Lou Holtz said, “In this world, you’re either growing or you’re dying so get in motion and grow.”  Your regional manager (or that voice inside your head) may have said something similar.

We’re one month into the new year and for many advisors growing remains the biggest to-do on their list.  Here are 5 strategies to explore and implement to make 2024 a year of record growth for your firm.

Social Media Prospecting

In an era defined by digital connectivity, the strategic use of social media is still a fairly underutilized tool for wealth managers. Tailored campaigns on platforms such as LinkedIn and Instagram, enhanced by personalized messaging, can serve as catalysts for establishing meaningful connections. Further, hosting webinars and live sessions allows wealth managers to showcase expertise and engage in real-time interaction with potential clients.  The time to consider social media as “just for kids” is long over.

Side note: If you want to dive deeper into social media, but your broker-dealer has handcuffed your efforts to leverage these tools, it might make sense to look around to find a better fit. Social media’s influence on society will only continue to grow – and as it does, traditional media’s power will diminish.  Being where your clients are is incredibly important.

Personalized Content Marketing

In an age of information overload, the refinement of content marketing strategies is imperative. By employing data-driven segmentation, wealth managers can craft bespoke content that resonates with specific client segments. The integration of interactive elements, such as quizzes and calculators, elevates the accessibility of complex financial concepts. This, coupled with a focus on shareable content, amplifies the reach of the wealth manager within the target demographic.

Referral Networks

The antidote to the rise of Artificial Intelligence (AI) is real, human connection, and cultivating your referral networks continues to emerge as a strategic imperative for wealth managers seeking to expand their client base. Through the establishment of partnerships with professionals in allied fields, wealth managers can tap into mutually beneficial referral networks. Simultaneously, the implementation of client advocacy programs, bolstered with exclusive benefits, can incentivize existing clients to actively contribute to expanding your client base.

Niche Marketing

Identifying and engaging with niche markets can be a key strategy for wealth managers seeking to carve out a distinct competitive advantage. Leveraging data analytics to discern underserved markets, wealth managers can tailor services to address specific client needs within these niches. Establishing thought leadership through webinars, whitepapers, and speaking engagements further reinforces the wealth manager’s position as an expert within the chosen niche.

Side note: Regardless of which side of the “woke” debate you are on, it is hard to ignore the rise in ESG investing.  Where possible, clients routinely express an interest in aligning their investment dollars with causes they are sympathetic toward.  The forks in the road around profitability are numerous and lead to interesting choices, but letting it be known that you are open to, if not flying the flag for this type of investing will draw in certain audiences.


The recently released T3/Inside Information Advisor Software Survey of 3000 financial advisors showed that nearly ⅓ were utilizing podcasts as a tool for education and promotion.  Pew Research data shows that 42% of Americans have listened to a podcasted in the past month, with other studies showing that Americans listen to 8 podcasts per week.  That represents a large potential audience and one you should probably be considering.

The bar for starting and publishing a podcast has lowered significantly, with big firms like Spotify providing both the tools and the hosting (for free!).  Growing an audience, like other marketing efforts, takes time, but you can fill up your library with back episodes as you grow your audience.

Be sure to follow along on our blog throughout the year as we introduce more strategies and techniques for client acquisition, along with other topics important to advisors looking to improve their practice.

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