Brand or marketing problem?
Let's talk about the elephant in the conference room: most often firms think they have a marketing problem when they actually have a brand problem.
How do you know which problem is actually yours?
Brand problem red flags:
When a prospect asks what makes you different, you find yourself reciting the same generic phrases as every other RIA. ("We provide comprehensive financial planning and personalized solutions!" Congratulations, you just described literally everyone.)
Your team gives different answers when asked about your firm's core value proposition. Sarah from Planning emphasizes your tax expertise, while Mike from Business Development leads with your ESG focus.
You keep changing your messaging every few months because "nothing seems to stick." (Spoiler: when everything sticks to the wall, nothing actually does.)
Real-world example: Meet fictional firm Thompson Wealth Advisors. They spent $50,000 on a marketing campaign that got decent click-through rates but attracted zero qualified prospects. Their marketing execution was solid, but their message? "We help affluent families achieve their financial goals." They could have swapped their logo with any other RIA's, and no one would have noticed the difference.
Marketing problem red flags:
You have a clear, distinctive value proposition, but nobody seems to know you exist. ("We're the only RIA in the Southwest specializing in sudden wealth management for tech executives" is great... if anyone could find you.)
Your referral partners understand exactly what makes you different, but your digital presence is stuck in 2005.
You can articulate why you're unique in conversation, but your marketing materials read like they were generated by a "financial advisor website" AI bot.
Real-world example: Consider fictional Apex Financial. They've carved out a genuine niche working with medical professionals transitioning from private practice to hospital employment. Their positioning is clear and distinctive. Their problem? They're still relying entirely on word-of-mouth and have zero presence where their prospects actually hang out (hint: it's not just the golf course).
The Fix
For a brand problem:
Stop all marketing activities. (Yes, really.) You're just throwing money at broadcasting an unclear message.
Get your entire team in a room and ask: "What client problem do we solve better than anyone else?" If everyone starts squirming uncomfortably, you're on the right track.
Look at your last 10 client wins. What actually made them choose you? (I promise it wasn't your commitment to excellence or your comprehensive approach.)
For a marketing problem:
Start by mapping where your ideal clients actually spend their time. (If you say "reading Barron's," I'm going to need you to think harder.)
Invest in the channels that matter. Maybe it's LinkedIn thought leadership. Maybe it's specialized podcasts. Just please, for the love of fiduciary duty, make it intentional.
Test and measure everything. If you're not tracking your marketing metrics as obsessively as you track your clients' portfolio performance, we need to talk.
Bottom line: Your brand is who you are. Your marketing is how you tell people about it. If you're not clear on the first part, getting better at the second part won't help.
And remember, in an industry where everyone claims to be different while looking exactly the same, actual differentiation is your only sustainable advantage. (But seriously, delete all photos with a couple in a convertible.)
