New Research Uncovers a Misalignment Between Financial Advisors’ Marketing Tactics and Consumer Preferences | PR Newswire [Video]

Ficomm Partners expands on their consumer marketing research with The Great Marketing

Mismatch: 2024 Financial Advisor Growth Marketing Study

, /PRNewswire/ — Ficomm Partners (Ficomm) has unveiled The Great Marketing Mismatch: 2024 Financial Advisor Growth Marketing Study, exposing a critical disconnect between how financial advisory firms market themselves and how consumers choose their advisors. This new study, surveying 437 financial advisory firms, builds on Ficomm’s July 2024 consumer research, which highlighted shifts in what most influences how investors choose advisors.

The findings underscore a stark misalignment: while 45% of investors in the consumer study selected their advisor through digital marketing, only 29% of firms prioritize digital marketing as a client acquisition strategy. Conversely, 47% of firms rely primarily on referrals, despite only 29% of consumers requiring a referral when hiring an advisor.

“Referrals will always be an important channel for growth,” said Ficomm CEO and Co-founder Meg Carpenter, “but as the consumer’s buying practices change, financial advisory firms must adapt by integrating strategies that meet consumers …