What’s the best lead generation strategy for financial advisors?

For financial advisors, wealth managers, financial planners, CFP’s, RIAs and insurance agents lead generation is crucial to success.

To win clients, you need appointments. And to get appointments, you need leads.

So, the big question is:

How can you get a stream of new leads, high quality appointments and clients each month in your firm?

And how can you do this in a way that is automated, profitable and predictable?

This is where your lead generation strategy comes in!

Executive Summary

To generate exclusive financial advisor leads, you need to follow the five steps outlined in this video. By following these steps, you’ll be able to get leads with prospects who actually WANT to work with you (rather than getting leads who are not a good fit or who you constantly have to chase to get an appointment).

This is the same strategy that has worked for many of our financial advisor clients. We show you HOW the strategy works for free and we only charge if you want our help to do it. Otherwise, the video explains how it all works step-by-step.

After you’ve finished watching the video, keep reading the rest of the article to see why strategy works particularly well for financial advisors…

Free lead generation training

Click here to watch the free financial advisor training video.

Financial Advisor Lead Generation: The Old vs New way

When it comes to generating leads, many financial advisors rely on traditional marketing strategies such as:

  • Networking events
  • Seminars
  • Cold calling
  • Referrals

If you’ve tried one or more of these strategies, you’ll know they CAN work (especially seminars!)… But the problem is, they are very time consuming, often expensive and definitely not very predictable.

For example, with seminars, you have to constantly trade your time to win new clients (it’s not automated). Plus, hosting and organizing these seminars can be very expensive. Referrals are great, but not predictable. You don’t know how many referrals you’ll get each month.

And cold calling may have worked well in the past for financial advisors, but the reality is, the results are getting worse each year.

So, is there anything better you can do?


Here are 3 of the best online lead generation strategies for financial advisors:

Tactic 1: Financial Advisor Video Sales Letter Leads

A video sales letter is a short video presentation that explains to potential clients:

  • The problem they have
  • Possible solutions to this problem
  • Why your solution is better

If prospects like what they hear in the video, they can then click on a button below the video to schedule a call.

Here’s an example of a video sales letter presentation for one of our clients:

Financial Planner / Advisor Funnel Example

Does a video sales letter presentation work well for financial advisors?

The video sales letter replicates what works best for financial advisors in real-life: seminars! The only difference is that with the video sales letter, it’s online, which gives you a number of advantages. So yes, having a video sales letter presentation can work well for financial advisors.

The benefits of a VSL include:

  • Can be watched online 24/7 (unlike a seminar which people need to attend at a specific day/time)
  • Can build trust quicker than other financial advisor lead magnets (such as ebooks, free pdf guides, etc)
  • Can be used as a lead magnet to help you generate leads online
  • Can be used as content to help you convert leads into appointments and clients
  • Can pre-qualify leads so that you only speak to prospects who are definitely the right fit
  • Is a lot more automated. You only need to record the presentation once. You don’t need to deliver it live each week or each month.
  • Can increases your conversions. You can look at the VSL engagement stats and see areas of the VSL presentation that can be improved to help you get better results over time.

For financial advisors, we’ve tested all kinds of lead magnets including webinars, ebooks, free guides and more. We’ve found the VSL converts best.

Needless to say, the VSL is our no.1 choice for financial advisor lead generation.

To learn how to create an effective VSL, see ‘Step 2’ of our free training video by clicking here.

Tactic 2: Financial Advisor Webinar Leads

A webinar is one of the most popular online lead generation strategies for financial advisors. A webinar works well because it replicates real-life seminars financial advisors organize to get more clients.

Financial advisor webinar

The financial advisor webinar lead generation strategy works very similar to the video sales letter strategy (see tactic 1 above).

The benefits of using a financial advisor webinar funnel to generate leads include:

  • Less expensive than financial advisor seminar marketing
  • Allows you to get high quality leads & appointments
  • Takes less time to host compared to seminar marketing
  • Often produces similar results compared to seminar marketing

The disadvantages to using a financial advisor webinar funnel include:

  • Most webinars are not automated which means you need to record it each week (or each month)
  • Leads have to watch the webinar at a specific day or time (this causes a lot of leads to miss out on watching your webinar)
  • Webinar content is often longer than a video sales letter (see tactic 1 above) which makes it harder to keep people engaged all the way through

Webinar vs Video Sales Letters (VSL): Which is best for financial advisors?

What affects the conversion rate of ANY video content is what you SAY in the video. Both webinars and a video sales letters (VSL) can convert well for financial advisors if you communicate HOW you help your potential clients in an effective way.

However, in our tests, we’ve found video sales letters convert slightly better than webinars in most cases because:

  • A VSL is shorter than a webinar (so more people watch it)
  • A VSL is on-demand whereas a webinar is not (It’s like watching a film on-demand via Netflx, Hulu, etc vs watching it on TV at a certain day on time… Most people prefer to watch video content on-demand these days)
  • A VSL is much easier to record and plug into a marketing funnel compared to a webinar
  • A VSL is more automated compared to a webinar

For those reasons, most financial advisors are starting to move to the video sales letter funnel lead generation strategy, rather than the webinar strategy. But again, both can work well IF the content in the video is GOOD!

Tip: Since COVID-19, people are less inclined to meet up in person… But this can actually be a GOOD thing. Why? Now many people are a lot more open to speaking to you virtually (over the phone or via Zoom). This allows you to expand and get clients from more locations (if you’re open to it of course!).

Tactic 3: Buy financial advisor leads

Another popular marketing strategy for financial advisors is to buy leads from major lead generation companies. However, when you buy leads it can have very mixed results.

Buy financial advisor leads

The biggest advantage to buying financial advisor leads:

  • You don’t need to spend any time on marketing to get leads (new leads arrive in your inbox on auto-pilot)

The problems with buying financial advisor leads are:

  • Leads are more expensive. Whenever you pay lead generation companies for leads, they are often generating the lead themselves at a lower cost. You’re paying a premium for a lead that you could generate yourself at a lower cost.
  • You’re not in control of your marketing. I’ve spoken to potential clients who have told me they were at one time buying leads from lead generation companies and the company could no longer deliver the leads. So they had instantly lost their only source of new leads.
  • Low quality leads. Financial advisors have reported that the lead quality from leads they have bought from lead generation companies have been low. Often they are chasing the lead just to get an appointment with no response. The leads are not really interested in working with you (so they are cold leads rather than warm leads).
  • Shared leads. Some lead generation companies will sell shared leads instead of exclusive leads. Shared lead cost less, but it means you’ll be competing with other advisors for the same leads. If you do decide to buy leads, I would strongly recommend making sure they are exclusive leads only.
  • Lead lists. Not all leads are the same. This is probably the worst type of leads you can buy are lead lists. These are leads from some kind of database. These leads are very cheap, but you get what you pay. It’s very unlikely you will be able to convert any leads from the leads list.
  • There are better alternatives to buying financial advisor leads. Alternative FREE ways to generate advisor leads include Google SEO, YouTube SEO and LinkedIn outreach. See step 4 of this video to learn how to do this.

As you can see there are pros and cons when you buy leads, but in many cases the cons outweigh the pros. That’s not to say buying leads does not work. It can work in some cases. But it’s important to be aware of all your options.

See also: Should you buy leads? (Pros and Cons)

Get your own EXCLUSIVE financial advisor leads!

After weighing the pros and cons of buying advisor leads, many financial advisors decide to get their own leads instead. They would rather be in control of their lead generation and get leads at-cost, rather than rely on a marketing or lead gen company to sell leads to them.

Many lead generation companies will buy leads themselves (e.g. through Facebook ads) and sell you the lead for a premium with their mark-up on top.

For example: A marketing company might pay $10 per lead via Facebook ads and sell this lead to other financial advisors for $50.

Selling leads to financial advisors is something I used to do myself so I know how it works quite well. But after speaking with many financial advisors I found that they would prefer to get their own leads at cost and be in more control of the marketing process. That’s why now I help financial advisors to get their own exclusive leads. Watch this video to see how it works.

The advantages to getting your own leads are:

  • Lower cost per lead
  • Higher quality leads
  • Exclusive leads
  • More control over your marketing

With the right strategy you can also position yourself so that you only get sales appointments with leads who definitely want to work with you (saving you time and money).

Should Financial Advisors Buy Online Leads?

Going back many years in my business, I used to SELL leads to financial professionals (and a few other industries) as part of my done-for-you lead generation services.

But I quickly realized that this wasn’t what was best for the client.

I knew clients would get much better results if they generated leads themselves.

That is why I switched my business model from reselling leads, to helping clients get their own exclusive leads at-cost (without paying a marketing company a premium for leads).

If you’re curious why I stopped selling leads, watch this video I recorded:

Top tip: If you’d like to learn how financial advisors get 10, 15, 30 or more predictably high quality sales appointments each month without relying on networking, referrals or word of mouth then click here to watch my free masterclass training where I show you how it all works.

The three stages of financial advisor lead generation

To generate exclusive advisor leads, there are three stages that all financial advisors need to master:

  • Stage 1: The Strategy (building a strong foundation)
  • Stage 2: Generating Leads (choosing the right lead gen channels for financial advisors)
  • Stage 3: Converting Leads into Appointments & Clients (and doing this on autopilot!)

All of these parts need to work together well if you want to get high quality exclusive advisor leads with your ideal clients.

Stage 1: Financial advisors marketing and sales funnel

This video explains in detail what strategy we use.

But in general, to create a successful funnel for financial advisors, you’ll need:

  • A high converting marketing funnel
  • A Video sales letter (VSL) to convert leads into appointments
  • The right messaging (say the right things in your ads, landing pages, etc)

Because we’ve already worked with lots of financial advisors, we already know what funnel works best, what kind of video sales letter works best and what to say in your various marketing materials.

This means can give you a battle-tested and high converting system designed to generate high quality sales appointments each month with people who actually WANT to work with you. We already know what to do and say to get you RESULTS straight away.

This will save you years of mistakes and potentially thousands of dollars in wasted advertising costs. You can see how the strategy works in this video.

Why most financial advisors fail to generate leads

The hardest part of financial advisor lead generation is knowing what to say in your landing pages, ads, automated follow up emails, etc to get conversions.

It can normally take many months – sometimes even years – of testing to find what works!

And this is why many financial advisors who try to generate leads online through digital marketing channels such as Google, Facebook Ads, LinkedIn or YouTube don’t get any results.

They either don’t have the right strategy OR they don’t know what to say to get results.

Fortunately, because we’ve worked with a lot of financial advisors, we already know what works.

We can save you  time and money from making costly mistakes and set up a system from the beginning that generates leads and converts these leads into high quality sales appointments.

And best of all, once it’s set up, most of it all runs on autopilot.

You no longer need to keep following up and chasing leads. Leads will be chasing to work with you. All you need to do is focus on having high quality sales appointments with prospects that are actually interested in being your client. Click here to see our case studies and success stories from other financial advisors

Stage 2: Financial Advisor Lead Generation

After you have a marketing and sales funnel up and running, now you need to get potential clients into the funnel. Prospects won’t magically find you. You need to be proactive with this stage.

There are two main ways you can get leads into your funnel:

  • Free or low-cost ways (Google SEO, YouTube SEO and LinkedIn outreach)
  • Paid ways (paid advertising or buying leads)

How to generate free financial advisor leads

An easy way to start getting new clients as a financial advisor is to generate leads using free or low cost digital marketing strategies.

Financial Advisor Digital Marketing

What are the best free or low cost lead generation strategies for financial advisors?

Here are the channels we’ve found work best:

Google (SEO): This is where your website will appear at the top of Google for people searching for your services. Chances are you found this article through Google – which is proof that the strategy we use to rank higher no Google works really well!

YouTube (SEO): This is where your videos will appear at the top of both YouTube and Google search for questions related to services that people are searching for.

LinkedIn Outreach: You can generate leads on LinkedIn (without ads) and automate most of the work.

See ‘Step 4’ in this video for more information on how to generate leads for free.

How to generate financial advisor leads with paid ads

If you want faster and more results (compared to what you can get using the free or low cost lead generation strategies above) then paid advertising would be the way to go.

The most popular marketing channels for paid advertising are:

  • Facebook Ads (includes Instagram ads)
  • Google Ads (includes YouTube ads)
  • Adroll (allows you to advertise on thousands of non-social media websites)

For our clients, we’ve found that Facebook ads combined with Adroll ads work best when running financial advisor lead generation campaigns.

Financial Advisor Lead Generation with Facebook ads

To generate advisor leads on Facebook ads, you first need to have a marketing funnel ready to go. We recommend using an automated appointment funnel. See ‘step 3’ in this video to learn how to do this.

Next you can start running ads on Facebook.

But remmeber, what you say in your Facebook ads can make or break a campaign.

So you want to make sure you have a good hook / offer in your ads. This is something we can help you with.

After spending $1,000 to $2,000 on Facebook Ads, Facebook will tell you your cost per lead and cost per appointment. Once you know your cost per lead & appointment, you can then decide how many leads & appointments you want every month.

For example, if your cost per appointments on Facebook Ads is $100 then if you pay Facebook $1,000, you will get 10 appointments ($100 x 10 appointments = $1,000).

Facebook Ads

The great thing about Facebook Ads is that you’re in complete control of your marketing and you can get as many leads and appointments as you like each month on-demand.

Although you can use any paid advertising channel to generate leads, we’ve found Facebook Ads works best for targeting seniors and is an excellent lead gen channel for financial advisors.

See this video for more information on how to generate leads on Facebook Ads.

Stage 3: Convert leads into appointments and clients

Generating a lead is NOT the same as winning a new client (but it IS the first step to getting a new client).

After you generate a lead, you need to nurture the lead until they convert into an appointment and into a client.

Lead nurturing primarily involves building trust with your leads, educating them over time and helping them see why you are the best solution for a problem they have.

For most financial advisors, the buyer journey can sometimes be a long one (6 to 12 months or more). In other words, the majority of your leads will not convert into clients straight away.


It’s because you need to build up a lot of trust with a potential client before they decide to work with you.

How to get financial advisor sales appointments

Let me know if the following sounds like you:

  • Do you start each month wondering where that next client is going to come from?
  • Are you tired of chasing leads? Wouldn’t it be better if leads chased you instead?
  • Are you tired of buying low quality leads that you can never seem to get hold of from a lead gen company?
  • Are you tired of using traditional lead generation strategies – such as referral marketing, networking events, seminars, etc?
  • Do you believe marketing is important, but everything you’ve tried just hasn’t worked very well and you can’t figure out why?

Many financial advisors find that the biggest challenge with lead generation is getting leads to convert into sales appointments and clients.

Why do financial advisor leads not convert into appointments?

The most common reason advisor leads do not convert into sales appointments is because the leads are not interested right NOW in working with a financial advisor.

And most financial advisors do not follow up with leads for long enough until they convert.

When doing lead generation it’s important to note that only 3% of people in your target audience are interested in buying right now.


For example, imagine you’re at a business networking event or a dinner seminar. There are 100 people in the room. Are all 100 people going to buy from you? No. Statistics show that only 3% (or 3 people) are looking to buy from you. And from those 3 people who want to buy from you, it’s possible only 1 or 2 will actually decide to work with you.

You could theoretically go round the room speaking to every person until you find the 3 that are actually interested in your services. But wouldn’t that be a big waste of time?

What if there was a way to only speak to the 3% (or the 3 people) that are actually interested in working with you?

If you could do this, you would:

  • Save time (only speak to qualified leads)
  • Save money (not waste time speaking to the wrong kind of people)

That’s what out lead generation strategy allows you to do.

Financial Advisor In-Market Data

We automatically filter out the leads that are NOT interested in working with you (at least right now) so that you ONLY speak to leads who WANT to work with you.

This means you can can finally STOP wasting time chasing leads and speaking to people who are not interested in working with you. Instead, you will ONLY speak to people that are excited to work with you.

When we talk about “lead generation” we believe quality is better than quantity.

It’s better to speak to a few really good quality prospects, than speak to a hundred people who are not going to be a good fit and just waste your time.

What about the 97% that hasn’t converted yet?

Just because only 3% of people in your market are interested in your services right NOW, does NOT mean the other 97% are not going to convert. They will convert eventually – when the time is right for them.

So it’s important you follow up with them regularly with helpful content, so that when they decide to work with a financial advisor YOU are the first person they think of.

The key thing is you want to follow up with leads the RIGHT way.

The wrong way to follow up with leads:

  • Constantly text them asking for an appointment
  • Keep calling them asking for an appointment
  • Non-stop emails asking for an appointment

Not only is this a complete waste of time, it can also annoy your leads so that they NEVER want to speak or work with you.

A better way to follow up with leads is to share helpful educational content each week via email

This allows you to:

  • Position yourself as an expert/authority
  • Build trust with leads
  • Help leads better understand how you can help them

Following up with leads each week is part of our lead generation strategy.

So, this is something we can help you with. This video explains how it all works in more detail.

Our philosophy for an effective lead generation strategy for financial advisors is simple: focus on getting high quality appointments with potential clients that actually want to work with you (rather than try to generate random leads with anyone).

For over 10+ years, we’ve been helping clients generate exclusive leads, appointments and clients in their business in a way that is predictable, profitable, automated and scalable.

In summary: How can financial advisors build trust with leads?

Financial advisors must implement two simple – yet powerful – strategies to build trust with leads:

  • Retargeting: This is a very cost effective way to stay top of mind with your potential clients
  • Email Marketing: This is where you provide helpful content to your potential clients on a regular basis

These two strategies can also be automated.

This means your leads can be nurtured every day, week and month – automatically!

Financial advisor warm leads

And whenever the time is right for THEM to work with you, they will reach out and schedule a call in your calendar. That way, you only speak to people who already WANT to work with you.

This allows you to generate appointments and clients each month without you needing to spend any time manually chasing leads yourself. Instead, leads will be chasing to work with YOU.

Next Steps?

If you want to learn more about generating quality leads for your firm, the next step is to watch a video that will walk you through how the strategy works step-by-step. Click here to watch the video and see how it all works in action.

If you like what you hear on the video and want our help to set this up for you, you’ll then have the option to schedule a call and we can go through how it all works in more detail and answer any other questions you might have.