Want to Grow Your Client Base? Try TikTok – Wealth Management

Wealth Management is part of the Informa Connect Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Nathan Liao | Oct 14, 2022
Social media video and audio marketing is the way to reach next gen investors  
With inflation here and a potential recession just around the bend, many financial advisory firms have likely seen their numbers of new clients each month drop. Those who were once interested in expanding their investment portfolios must now focus on budgeting for the sky-high prices of groceries, gas and other everyday essentials. That said, now it is paramount for financial advisory companies to focus their efforts on attracting more investors to stay ahead of their competitors.
In my own experience as the CEO and founder of CMA Exam Academy (a Certified Management Accountant exam review program), I have discovered a number of tried-and-true ways that financial firms of all kinds can gain more clients. Here are just a few of these strategies that will help firms grow their investor bases:
Focus on Marketing to Gen Z on TikTok
There’s no doubt that the TikTok social media platform has exploded in popularity over the past few years with the Generation Z crowd. From viral food recipes to fashion advice, to tips on fitness and entrepreneurship, TikTok has become the go-to place for Gen Z to get all their information and daily inspiration. On top of this, so many in Gen Z are now of age to invest in stocks and are interested in ways to grow their wealth (we all saw this year’s frenzy over NFTs). So does your financial advisory firm have a solid TikTok marketing plan?
There are so many ways for your company to reach Gen Z on TikTok. You can create helpful how-to videos for beginner investors or a weekly video recap of top trends in the stock market. Or, you can create videos showcasing major success stories about Gen Z investors. Remember though that it is important to be consistent with your video posting schedule and to use plenty of investment-related hashtags. This will help you grow your TikTok followers who may later become a part of your client base.
Have Company Executives Be a Guest on Podcasts
Just like TikTok, podcasts have become the go-to source for information on all kinds of industries. Podcasts related to investing in stocks and other ways to grow wealth are extremely popular with Gen Z and millennials, which makes them the perfect avenue for reaching those demographics. One way you can do that is by pitching your company’s executives to be a guest on various investment and stock market podcasts, where they can share their expertise on budgeting, investing mistakes to avoid, promising stocks to invest in, etc. They can then plug your company in each episode, which can help your business attract more clients.
This strategy will place your company in front of thousands, tens of thousands or more listeners who are already interested in investing and growing their wealth. Also, this strategy is so beneficial because it can help you grow backlinks to your business’s website, which is vital for boosting SEO and reaching even more potential investors. Many podcasts have their own websites that showcase each guest’s bio with a hyperlink back to their business. Therefore, every time one of your company’s executives gets booked on a podcast, they may get their own bio page and a backlink on that podcast’s website! 
You can locate podcasts related to wealth management, investing in the stock market, and personal finance by doing a simple Google search. Many of these podcasts have a guest submission page and dedicated email addresses for pitching guests — make sure to provide your company executive’s bio, a list of timely topics they can discuss and links to any past interviews they have done or expert articles they have written.
Managing a Robust YouTube Channel is Key
In addition to TikTok and podcasts, so many people turn to YouTube when they need quick, easy-to-process info on an intricate topic. Capitalize on this by managing a company YouTube channel chock-full of helpful info potential investors might need. You can create longer versions of the informational videos you would make for the aforementioned TikTok channel, on topics such as tips for investing beginners, weekly recaps of top stock trends, and common investing mistakes to avoid. Those who view your videos could decide your company is the right choice for their investing needs.
Implement an Effective Referral Program
Just like in any business, referrals are absolutely key for growing a client base. People trust the firsthand recommendations of their friends and family more than commercials and other advertisements. On top of this, those with an interest in the stock market and in other ways to grow wealth often ask other investment enthusiasts they know for advice on where to begin. Therefore, if you don’t have an effective referral program in place just yet, this can be a huge, missed opportunity for growing your company’s client base.
One way to do this is by offering your current investors a monetary reward every time they refer a new person to your business who later joins your client base. For example, you can offer a $50 Visa e-gift card for every new person they bring to your company. Or, you can even offer a certain amount of free stock to both the referrer and the new client(s) they bring to your business. Make sure your current clients know all about the referral program—you can send them a newsletter about the program and also remind them about it whenever you have an update call with them.
To Wrap It All Up
If you want to grow your financial advisory firm’s client base, you can do just that by prioritizing your TikTok marketing efforts. Also, have company representatives be a guest on stock and finance related podcasts to reach thousands of potential new clients. On top of this, managing an informational YouTube channel and implementing an effective referral program can help you attract many more clients. Try any of these strategies to grow your client base and help your company rise above the competition.
Nathan Liao is the founder of CMA Exam Academy, a top Certified Management Accountant exam review program.
More information about text formats
Follow us:


Leave a Comment

Your email address will not be published. Required fields are marked *