6 Best Lead Magnets For Financial Advisors

Are you a financial advisor looking for the best types of lead magnets that attract your ideal clients?

Financial advisors can use lead magnets to attract and convert potential clients.

Lead magnets are valuable free resources that solve your target audience’s problems. They offer a unique opportunity to attract clients genuinely interested in your services.

With lead magnets, you offer value in exchange for your potential client’s attention and contact information.

In this article, I share the best-performing lead magnets I’ve used to get quality leads for my financial services clients.

Quick Summary

Are you in a rush? Here are the best lead magnets for financial advisors:

Video Sales Letter (VSL)
Automated Webinars
Live Webinars
eBook/Guide
Local Seminars
Free Consultations

This article will explain these lead magnets and how they work.

However, in this free masterclass training, I explained how to integrate them into your overall lead generation strategy.

How To Use Lead Magnets To Attract High-Quality Financial Advisor Leads

Here are the top six lead magnets financial advisors can use to attract leads:

1. Video Sales Letter (VSL)

A Video Sales Letter, or VSL, is a type of video content that persuades viewers to take a specific action.

As a financial advisor looking to generate leads, your VSL provides the value your potential clients need, and, in return, you get their contact details.

As a lead generation expert serving clients in the financial services industry, I’ve used VSLs to generate thousands of qualified leads and help advisors convert prospects into clients.

How did I achieve this? Here is how:

Creating a Great VSL: When making your VSL, think of it as a conversation with your target audience. Identify their financial concerns, showcase your expertise, and explain the benefits of working with you in a way that resonates with them.
Promote your VSL: Share the VSL on your website/blog, social media, YouTube videos, LinkedIn outreach, and paid ads. I explained how to promote VSLs in-depth here.
Capture Leads: Offer the VSL in exchange for contact information, building your email list with potential clients.

VSL works excellently as a lead magnet. It allows you to connect with potential clients directly in a personalized way.

However, the success of your VSL as a lead magnet depends mainly on the quality of your video. Here are some useful tips:

Clearly understand your target audience, their problems, and how you can help solve them. Explain why your solution is better than other solutions.
Create a high-quality video with good lighting, sound, and editing.
Keep it concise and engaging. For financial advisors, I’ve found the sweet spot for the VSL, which is about 5-10 minutes.

If you have created and promoted your VSL, it does not end there. I recommend split testing it to get the best results. Using funnel-building tools like Karta, keep track of the engagement and conversion rates. If they are poor, tweak your VSL.

For instance, if any parts of the video make the audience lose interest, remove or replace those parts.

Watch this free masterclass training to learn how to create and promote a video sales letter that works.

2. Automated Webinars

Automated webinars are pre-recorded webinars set up to play at specific times or on-demand, thus appearing like a live event.

Its success lies in its ability to repeatedly provide value to potential clients on a large scale without being present for each session.

I’ve witnessed firsthand the power of automated webinars in consistently generating high-quality leads for financial advisors.

Here are the three main steps involved in the process:

Create an Informative Webinar: Develop a valuable presentation that addresses a specific financial concern of your target audience and shows how your expertise can resolve such concern.

For example, to attract leads interested in wealth management, set up an automated webinar on “Top 5 Strategies for Building Long-Term Wealth.”

Set Up Automation: Schedule the webinar to run automatically on a suitable platform, such as WebinarJam, Demio, or GoToWebinar. These platforms allow you to schedule recurring webinar sessions, handle registrations, and deliver pre-recorded content to attendees.
Promote and Capture Leads: Promote the webinars on your landing page and social media. You can also use email marketing and paid advertising. Offer access to the recording in exchange for contact information, building your lead list.

The importance of having an outstanding presentation cannot be overemphasized. Many financial advisors use webinars, so yours must clearly communicate your unique value proposition to attract viewers.

Watch this video to see the benefit of VSLs over automated webinars.

3. Live Webinars

Having used webinars as a lead magnet for numerous financial services clients, I have learned that some potential clients may prefer live interactions over recorded content.

Live webinars are online seminars or presentations that are broadcast in real-time. They allow financial advisors to:

connect with their potential clients
share their expertise
demonstrate the value of their services

Unlike automated webinars, live webinars are interactive. Therefore, advisors can engage with their potential clients actively.

The process of setting up a live webinar is similar to that of an automated webinar but with slight differences.

You need to:

Choose a Relevant Topic: Select a webinar addressing your target audience’s pain points, challenges, or aspirations.

For example, suppose you are targeting wealthy individuals who want to plan an estate. In that case, you can set up a webinar about “Estate Planning Essentials: Protecting Your Legacy and Your Loved Ones.”

Develop Engaging Content: Create an informative, engaging, and actionable presentation. I recommend including slides, charts, and videos to illustrate your points better and keep attendees interested.
Select a Webinar Platform: Choose a reliable webinar platform, such as Zoom, GoToWebinar, or WebinarJam, that offers the features and functionality you need.

Since it’s an interactive webinar, prioritize tools like registration pages, email reminders, and interactive tools like polls and Q&A.

Schedule and Promote Your Webinar: Set a date and time for your live webinar and create a registration page that captures attendees’ contact information.

Promote your webinar through various channels, such as social media, email marketing, paid advertising, and your website.

Hold the Webinar: On the day of the webinar, deliver your presentation and engage with attendees through Q&A sessions, polls, and other interactive features.

You can also capture leads by offering access to the webinar recording.

I often recommend using the contact information collected before and after the webinar to nurture leads and convert them into clients. This free masterclass training will show you how to do that.

4. eBooks/Guides

eBooks or guides are another type of lead magnet a financial advisor can leverage to find potential clients interested in their services.

They are valuable resources that establish you as a financial expert by offering in-depth information on a specific financial topic.

Here’s how it works for lead generation:

Develop an Irresistible Guide: Create an informative and well-written ebook or guide that addresses a specific financial concern of your ideal client. Consider topics like:
- “The Millennial’s Guide to Building Wealth”
- “Navigating Divorce: Financial Strategies for a New Chapter”
- “The Entrepreneur’s Playbook: Managing Your Finances and Growing Your Business”
- “The Retiree’s Handbook: Making the Most of Your Golden Years”

Whichever topic you choose, offer actionable insights and show your expertise.

Design and Format: Ensure the eBook is visually appealing and easy to read. Use clear formatting, graphics, and concise language for optimal user experience.
Landing Page and Promotion: Create a dedicated landing page highlighting the benefits of your eBook. Promote it on your website, social media channels, and email marketing campaigns.
Capture Leads: Offer the eBook download in exchange for contact information, which will allow you to build your list of potential clients.

For potential clients, accessing informative and educative resources can help them assess your level of knowledge in your chosen area of practice.

But there are downsides. For example, tons of free resources are out there, so your eBook/guide must stand out, or it will get lost in the crowd. You will also need to invest a lot of time and effort into creating a high-quality resource and updating it regularly to stay relevant.

Despite these challenges, eBooks and guides remain powerful tools for financial advisors who want to generate leads and grow their client base.

You can find more effective lead-generation strategies in my free video.

5. Local Seminars

If you want to attract and engage potential local clients, I recommend using local seminars as your lead magnet.

As a lead generation expert, I have seen local seminars generate high-quality leads for my clients. More importantly, the strategy helps advisors build long-lasting client relationships.

We once had a client who hosted a series of local seminars for small businesses in Galveston, Texas. The title was “Managing Cash Flow Effectively To Grow Your Small Business.”

By working with the local community centers and promoting the events through online and local channels, we attracted over 150 attendees across three seminars, resulting in numerous new client engagements.

Follow these steps to organize a successful local seminar that brings potential clients:

Choose a seminar topic that resonates with your target audience in your local community.
Secure a venue and set a date. It could be your community center, library, or hotel conference room. Choose a date and time that works for your target audience.
Promote the event using online and offline channels. For example, work with local organizations and create a landing page to capture attendee information.
Develop and deliver an excellent presentation.

However, I must mention that local seminars have their limitations. The biggest is the limited reach. You may miss out on potential clients outside your local market by focusing on a specific area.

Also, in today’s digital age, many people prefer to engage with content and services online rather than attending in-person events.

But if we look beyond these, local seminars can build trust and generate leads.

I shared other lead generation systems financial advisors can adopt in this video.

6. Free Consultations

This classic lead magnet offers a personalized approach.

You can provide a free initial online consultation to connect with potential clients, assess their needs, and demonstrate your expertise.

Most importantly, you provide immediate value–something most financial advisors won’t offer.

You can set up free consultations by following this process:

Set Clear Objectives: Determine what the consultation will cover and the benefits for the potential client.
Easy Scheduling: Use online scheduling tools to make booking consultations easy
Screen for Participants: Create a short pre-consultation questionnaire to ensure the potential client’s needs align with your services.
Value Proposition: Explain the personalized advice and actionable steps that clients will receive.

You can promote the free consultation using social media, content marketing, and paid ads. Word of mouth can also be effective, especially when targeting the local market.

While consultations don’t guarantee conversions, they can be a powerful tool for demonstrating expertise and generating qualified leads.

Find out which lead generation strategies guarantee conversions in this free masterclass training.

Do Lead Magnets Work For Financial Advisors?

Yes, it does! Lead magnets are an effective tool for financial advisors to attract and convert potential clients.

This targeted approach allows financial advisors to attract leads interested in their specific services and nurture prospects through the sales funnel, eventually leading to appointments or client engagements.

This article discusses six powerful lead magnets that can capture the attention of potential clients seeking the services of a financial advisor. These include video sales letters (VSLs), automated webinars, live webinars, eBooks and guides, local seminars, and free consultations.

While lead magnets require creating high-quality, audience-tailored content, they are a cost-effective marketing strategy compared to traditional advertising. Each lead magnet has its unique benefits and challenges. However, they all provide value by building trust and establishing relationships with potential clients.

At Skyline Social, we focus on helping financial advisors attract high-intent leads and clients with lead magnets and other strategies. Watch our free masterclass training to learn how.

Frequently Asked Questions

What exactly is a lead magnet?

A lead magnet is a valuable resource you offer for free as a financial advisor in exchange for a potential client’s contact information (like an email address).

It can be an ebook, webinar, video, or other resource that educates potential clients on a financial topic and shows the advisor’s expertise.

How can I measure the success of my lead magnet?

Measure success by tracking metrics such as the number of downloads, sign-ups, webinar attendees, and consultations booked. You can also keep track of the conversion rate from leads to clients to assess the lead magnet’s impact on your business growth.

Do lead magnets work for all financial advisors?

Yes, you can tailor your lead magnet strategy to work for different financial advisory services. All you have to do is structure the content to address your target audience’s specific interests and concerns.

Can I use multiple lead magnets?

Yes, you can. Using a variety of lead magnets can attract a wider range of potential clients with different interests. However, I recommend you first focus on creating and launching one successful lead magnet. Then, you can add a second, a third, and so on.

Which lead magnet is best for my financial services?

A video lead magnet (such as a video sales letter) is usually best for financial services businesses. Finance is a high-trust industry, and videos let prospects see and hear directly from you, creating a stronger connection than text content alone.

Also, VSLs are easily sharable. You can embed them on your website, share them across social media platforms, or include them in email marketing campaigns to expand your reach.

Ashley Davis

Ashley Davis (or ‘Ash’ for short) is the CEO & Founder of Skyline Social. For over 15 years, Ash has been helping business owners get high-quality leads, appointments, and clients each month. He has extensive experience working with B2B & B2C industries in finance, insurance, marketing, sales and beyond. Learn more about the author here.