I worked as a VP of Digital Marketing for a Financial Advisor and 12 months ago I opened a marketing firm focused on lead generation and digital marketing for financial advisors. Please feel free to reach out to me if you need any help or have questions about generating leads or digital marketing for Advisors. 

Thank you

Mustapha (you can also call me Steve )

Nice to have you here babe.  What kind of digity leads can you get me hun?  How much do they cost per lead?

Thank you for asking. Please find a link to a PDF case study of what I do (the case study has an estimates of CAC (Customer Acquisition Cost). From the existing financial advisors I work with, it is around $500 to $1000 per Customer. That is NOT a Lead cost, it is a final paying customer acquisition cost:   https://drive.google.com/file/d/149VzbzZjyDg_aEx-mqr7I4uAlrZWG6MJ/view

I also recently launched a YouTube video channels to provide free digital marketing training for financial advisors: Here are two recent videos:

Thank you

Challenge accepted. In all cases I start my work with a full free marketing plan and assessment. You don't pay anything for the marketing plan as its an investment I do to develop business. You can ping me in private or fill up this form: https://www.leadcenter.ai/marketing-financial-advisor-digital-marketing/ and I will take it forward to set up an appointment. 

How about the bold part?

That is the challenge I am accepting!

$1000 isn't a bad cost comparably. 

You can call me Steve or Mustapha, I don't mind 

For Customer Acquisition Cost, $500 to $1000 is reasonable if you are:

- Selling Investment and Assets under management with a fee structure in the range of 1% to 1.5%.

- Annuity products were the average sales size is $30,000 to $40,000

But it is also highly dependent on the Advisor ability to convert appointments to business. Majority of the advisors I worked with over the years have no problem in converting appointments to business. Amazingly, some of them can convert up to 80% of appointments to business. The challenge for most of them is generating qualified leads and the digital arena is a bit mystic :)

I am attaching another useful slide that we ask advisors to use to measure conversion from one stage to the next and find optimization opportunity from one stage to next, which ultimately will help reduce CAC while increase Revenue

https://s3.amazonaws.com/storat-us-east/app/website/62cf5dd6af4a97.91404149_original.png - Conversion Funnel

The average net worth we worked with so far is hovering around $1.2M to $1.5M. We indeed generated a lot of leads where net worth is more than $10M, but frankly I have never worked with an advisor that targets only $10MM+. So, I will need to look at your existing digital marketing footprint, marketing channel, ideal customer profile, geographical coverage, the quality of the content, and most importantly the trust and strength of your brand. Please ping me in private and I will be happy to do a free marketing assessment\plan. Few questions I would have, do you have inhouse investment or you broker? the package of services you offer (AUM, Annuities, Insurance, Retirement Planning, etc??)

 To be very honest with you, if you are increasing the min from $500K to $10MM, expect CAC to be much more as the target audience is much smaller and would require a mix of traditional + digital marketing + Inbound + Outbound. But It is definitely doable, but I do NOT thing at $1K CAC.

But at the scale of things, for a $10M client, avg of %0.09 annual fees that is an average of $90K. that is a $450,000 LTV over 5 years. So even if the CAC is $30K, it is worth it, I guess! for annuities, insurance, etc. the LTV can be realized in the first year 

Can your firm..

1.  Get leads digitally (like Facebook, LinkedIn, whatever...IDGAF if it's SnapChat)

2. Contact them, drip on them, schedule an appointment with them

3.  I don't want to do anything but pay you until they walk in my door.

If that's an option, PM me.  

Hello;

I will PM you in private, but posting this here to share the knowledge:

Launching a marketing campaign in multiple channels is something we advise against! Specially for small independent financial advisors making less than $5M in revenue annually.  For inbound marketing campaigns, social media channels works at the awareness stage with low purchase intent. While Google, for instant, works at closer stage to buying (evaluation) with high purchase intent. To put this in layman term: 

• a Person going to Google Search and and searching for "Financial advisor near me" or "Buy annuity" is indeed looking for financial advisor. He is not looking to buy a car or see pictures of his friends. Hence a high probability of being a qualified lead (combined with proper targeting of right geography, audience, etc). 
• On the other hand, somebody going to Facebook to see whats up with their friends, he is not looking for a financial advisor. Hence it is called a consideration stage. 

Also there is a personal story to this. As a marketer working with small and medium business, when I a sign a new contract, it is like a time-bomb. I need to rally to generate qualified leads that convert to appointments as soon as possible. SMB's are on a tight budget, and they don't have the capacity for B.S. or experimentation!!So, they only value qualified leads. When I started focusing on digital marketing back in 2016, I went through a lot of mistakes and pain trying to promote small businesses with small budget on multiple channels. In 2018, I figured out the value of FOCUS and it was upward for my agency and me from there. I wrote an article about the decline in social media reach. You can read it here: https://www.leadcenter.ai/the-decline-in-facebook-and-instagram-free-posts-reach-in-2020-and-what-to-do-about-it/

I hope that help.

Funneling. If you have brand awareness, it will push more people through the funnel. 

I don't think Mustafa is a lead generation service. He is a marketing service that helps you create your own lead generation system.

That's what it sounds like to me.

Exactly. Over the years, we deployed tracking methodology to track visitors (ex: Google Tag Manager, Zoho page sense, Google Search Console, and Analytics, etc). A visitor may require between 8 to 12 touch points before converting to a lead. Do you know what is the most searched term we found before a visitor converts to lead? it is "XYZ advisor reviews". So, a lot of serious leads will search for your reviews before converting. Hence we always recommend creating a review page in your website and pay close attention to Google Business Profile reviews(note: SEC changed the rule around a year ago and you can request reviews from your existing customers). 

Moraen; actually we are a performance lead generation agency. Not marketing. Hence we do extensive lead tracking through virtual phone numbers, form submission, and other mediums. So, we developed a full software for that to track leads, gather intelligence, and automate the engagement with them. You can register for free to use the software at https://app.leadcenter.ai/register. It is open to be used without acquiring any of our services 

But you aren't the firm generating the lead, right?

SmartAsset generates leads from THEIR brand. What it sounds like you are suggesting is that you will help generate leads for advisors using the ADVISOR'S brand. Is that not correct? To me that sounds like helping people through the marketing funnel, which to me sounds like a marketing service.

Yes, you are absolutely right. if that is what you meant, we are a marketing service. 

I think he's legit.  Not sure if he's worth a damn but I'm signing up at lunch and will report back.

You have to admire that.

Let me know what you find out

Hi Smith, We will integrate with WealthBox if we there is a use case. Usually it takes couple of weeks to build the integration. 

Do you mean Mufasa is the shit?

You mean for digital marketing\Lead Generation Services? That depends on the scope of work. But we usually do an initial free consultation and a free marketing plan. The free marketing plan includes

Baller.

Hi, Apology if I missed something. Where did you send me the message? I don't have any messages in the private messages folder. please feel free to send me an email at mustapha@leadcenter.ai or you can book an appointment directly on my calendly at https://calendly.com/mustapha-9/30min

I was just going to say - hey mustapha. Tell us just a tiny bit about yourself. Like do you play tennis? Video games? Drive a cool car? 

Thank you for asking, I love skiing and scuba diving. Also I am HOG (Harley Davidson rider). The best ski resorts that I used to visit regularly before covid is Kitzbuhel in Austria and Chamonix Mont Blanc on the french side of the Alps. Best Scuba diving spot is the Sharm Al Sheikh resort in Egypt. Amazing coral reefs :):)

Thank you so much for the kind words and I look forward to working with you.