Financial Advisors: Are You Just Checking Off a Box?

Financial AdvisorsLearn how financial advisors can stop spending money on needless training and tools

We have all seen the ads – they promise us more followers, better accountability/organization, and the “must-have” financial planner training that will help increase our income. It’s easy to get caught up in these slick marketing promotions, and while some are legitimate and can help you grow your business, many can actually take you further off track. Let’s explore that a bit further…

As a financial advisor, have you ever taken inventory of how many programs, software, marketing tools or trainings you are spending your money on? And to take this one step further, have you ever sat down and calculated your return on investment with these tools and programs? In many cases, financial planners and many other small business owners are unaware of how many programs and marketing tools they are overbuying yet under-utilizing. The key is knowing where to spend your money and what “business-growth products” to steer clear of. To begin, let’s take a closer look at several tools and programs to pass on when it comes to growing your business:

1. Paying for “Likes”

Hands down, this is one of the worst ways to attempt to grow your business. You may come across many ads that promise more likes on your social media accounts, and in turn you may think this translates into more eyes seeing your services and products. Unfortunately, this is not the case. You will be wasting your marketing budget on “likes” that are most often fake accounts, or people who have no genuine interest in your business. Plus, you will have flooded your social media accounts with people who will not engage with your posts. The worst part of this is, because of algorithms, these new “followers” will see your posts, while your original, authentic followers may not (meaning your message is not getting to the right people). Gaining a following can be a slow, tedious process, but the more people who follow you because of genuine interest, the more likely they are to engage in your services, share your information, and look to you when they need financial planning help.

2. Stocking up on Trainings and Certifications

Technology has opened up an entirely new world when it comes to trainings and gaining certifications. And with new marketing trainings popping up almost daily, it is hard to not get sucked into purchasing them in hopes of growing your business. Before handing over your credit card, decide if you truly have the time to complete the training and estimate how likely the training is to help you improve in a certain area (for example, blogging or scheduling social media posts). Also, consider if you really plan on spending more time to build up that particular area after the training, or if it is something you can work on now without the training.

3. Not Measuring the Effectiveness of Ads

Many people run ads on Facebook and Instagram but do not check the data afterwards to see how well the ads are working or converting to customers. Instead of blindly spending money and running ads, learn how to measure the results of social media marketing and tweak your ads depending on the engagement of your audience.

If you have made any of the above-mentioned blunders, have no fear – everyone has made marketing mistakes and/or spent money without tracking return on investment. Moving forward, try to zero in on specific areas you want to grow for your financial planner business, and make an action plan on how to properly get there without spending your hard earned marketing money.

To learn more about marketing and growing your financial planning business, visit Summit Brokerage Services has been voted the #1 boutique independent broker dealer in the country. Let us show you why! To experience the Summit difference, learn more about our network of independent financial advisors, and begin creating your financial planning documents, visit or call us at (800) 354-5528.


About Summit Brokerage Services, Inc.

Summit Brokerage Services is part of Cetera Financial Group. Summit Brokerage provides a broad range of securities brokerage and investment services to primarily individual investors. Summit Brokerage also sells insurance products, predominantly fixed and variable annuities and life insurance through its subsidiary, SBS Insurance Agency of Florida. Summit Brokerage also provides asset management services through its investment advisor, Summit Financial Group, Inc.


About Cetera Financial Group

Cetera Financial Group® (“Cetera”) is a leading network of independent retail broker-dealers empowering the delivery of objective financial planning advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions.  Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations.  Independent financial advisor support resources offered through Cetera include award-winning wealth management and financial planning and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology.  For more information, visit

*”Cetera Financial Group” refers to the network of retail independent broker-dealers encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, Girard Securities, and Summit Brokerage Services.


All information herein has been prepared solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy.


Content created by Summit Brokerage Services, Inc.

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