Summer is typically a slower time for many businesses, including wealth management firms. Financial advisors taking time off to recharge don’t have to do so at the expense of putting practice growth on pause. Staying productive during the quieter months of July and August can provide a competitive edge and set you up to finish the year strong.
Here are a few business development activities to consider:
Host an In-Person Seminar
Many financial professionals believe that hosting a seminar in the summer is a waste of time because of the assumption of low attendance and a general lack of interest. The contrary is true. Hosting a workshop during the summer can be a huge catalyst for business development and growth.
In our experience, summer seminars have a good turnout. We have seen our summer workshops draw an average of 25 households per event. Sometimes spending time with family during the summer makes them consider financial needs and concerns. Family time, and the issues that can often arise, can make people take a long, hard look at their lives. This could make them receptive to a summer seminar invitation.
Writing people off as “not interested” is a missed opportunity. A different mindset about summer seminars could be the difference between a successful year and a dry spell.
With the right content, call to action and follow-up, these seminars can lead to appointments and new clients. This can be a real growth catalyst for your business as you move into the fall.
Rebroadcast Your Webinars
Rebroadcasting webinars that were held earlier in the year is another great way to leverage work that you’ve already done while getting in front of an audience of clients and prospects who may have been too busy to join the original virtual event. Rebroadcasting webinars and other recorded content allow you to:
- Reach a wider audience during a slower time of year.
- Reinforce key concepts through repetition to help clients and prospects better understand the information presented.
- Save time and resources by reusing valuable content that was time-consuming and expensive to create.
Rebroadcasting webinars in the summer is a smart and convenient way to engage existing clients and keep your pipeline full of warm leads. It’s an excellent tool for providing targeted audiences with compelling content.
Work on Your Business
Summer months can provide a respite from the hectic workload of running a wealth management practice if clients head on their own vacations. Take this opportunity to concentrate on business areas that may have been pushed to the back burner.
- Review your compliance program: Whether it is your back-office policies or a new rule from FINRA or the SEC, summer is a great time to spend some effort reviewing your compliance program to ensure you are on top of the ever-changing regulatory landscape.
- Complete your continuing education: We know that continuing education can be tedious, but spending some downtime in the summer to take CE courses that satisfy your requirements can put you ahead of the game while also educating yourself on important topics.
- Develop your digital marketing strategy: In this world of increased information and decreased attention spans, a digital marketing strategy that cuts through the clutter is critical to attract new clients and increase business with existing ones. Summer is a good time to develop or refresh your digital marketing strategy to ensure it includes branded social media content, personalized email campaigns and engaging newsletters.
To learn more about maintaining your growth momentum throughout the summer with in-person seminars, rebroadcasted webinars and other business building marketing activities, click here.
White Glove is a tech-enabled marketing services company dedicated to helping financial advisors grow their practices. Visit us at White Glove.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
