Online advertising for wealth managers: the 2024 guide

Online advertising for wealth managers

Am I allowed to advertise online as a wealth manager?

Am I allowed to advertise online as a wealth manager?

Spoiler: the answer is YES. Within the conditions that come with advisory work. 

In practice: avoid guarantees you cannot keep, and always state that investing money carries risk and that anyone starting out has to be aware of it.

In this article, we go deep into how a wealth manager advertises online in 2024:

Two ways for a wealth manager to advertise online

There are two effective methods for advertising online as a wealth manager. The first is paid search, known as SEA. By investing in sponsored ads on search engines such as Google, you quickly increase your visibility and attract potential clients searching for specific services, such as drafting deeds, handling estates or property transactions.

The second method is to make use of social media. By creating engaging, informative content on platforms such as LinkedIn, Facebook and Instagram, you build a solid online presence and interact directly with your audience, which strengthens your reputation and retains your clients. Sharing advice on everyday subjects such as authenticated deeds, wealth management or changes in the law establishes your expertise and brings in new clients.

Respect the ethical rules

As a wealth manager, respecting the ethical rules on advertising is essential. Every communication has to be measured, informative and free of any overly commercial tone. Comparative advertising is strictly forbidden, and you always have to favour clear, factual information for the public. Advertising must never damage the image of the profession.

In short: yes, a wealth manager can advertise online, provided it is done within the rules and the ethics of the profession. Use modern tools while preserving the integrity and rigour your work demands.

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Advertising on search engines with SEA

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Google Ads is the main tool for building SEA campaigns and buying keywords. Bing Ads and Yahoo! Gemini are alternatives, but we will focus on Google Ads because it is the most widely used platform. A few recommendations before you start:

Online advertising: the budget

The way Google Ads works rests on cost per click (CPC). You only pay when someone clicks your sponsored ad, which is an advantage: you pay only for real visitors. Costs climb fast, though, so it matters to set your budget and put a cap on Google Ads to avoid nasty surprises. Every keyword carries a cost set by an auction system. Keywords that are heavily searched and in high demand cost more.

The goals of your advertising

What is your campaign for? More visitors to your site? More appointments? Collecting contacts? It matters to quantify your goals so you can adjust the strategy. How you define your goals directly shapes how the campaign is set up.

Target the right audience and pick the right keywords

Choosing keywords rests on several criteria. Use tools such as Ubersuggest, Semrush or Ahrefs to identify the most relevant keywords:

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• Your audience: What does your target clientele actually search for? Match their vocabulary. Avoid legal terms that are too complex. Use keywords that match your goals. If you want more appointments, pick keywords that convert well.
• Search volume: A keyword with low search volume is of little use. Go for keywords with meaningful volume.
• Keyword difficulty: Some keywords carry a high difficulty. Competition is fierce, which makes ranking more expensive.
• Your budget: Build a list of keywords that matches your budget. You can go for expensive keywords with high volume, or several cheaper ones with lower volumes.

Assess the results

Unlike SEO, which takes time to show results, SEA delivers immediate ones. Watch how your keywords perform and adjust the strategy accordingly. If a keyword does not work, drop it to avoid wasted spend. If a keyword performs, put more behind it.

A tip: do not bid on your own name. Avoid ranking on your own name. Clients searching for your name will find you easily without you paying for it.

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Build dedicated pages for your ads

SEA generates traffic to your site and raises your visibility, but that is not enough to convert your prospects. However much you spend, if your site is not optimised or attractive, you lose the whole point of the campaign, and the money with it.

The landing pages you build for one campaign are extremely effective. They are not a general showcase, they present a precise offer matched to the audience targeted by your ads. Picture the frustration of a prospect who clicks an ad promising a free consultation and lands on a generic home page. Where is the offer? Lost and disappointed, they leave straight away.

Raise the odds of conversion

A well-built landing page takes the prospect straight to what they came for, which raises the odds of conversion. Every offer and every campaign should have its own landing page. Why? Because every prospect has different needs and expectations. A dedicated page lets you tailor the message, clarify the offer and simplify the path to conversion. It is your space to answer your prospects' questions precisely, reassure them about the value of what you offer and prompt them to act.

Optimise and test

Testing different landing pages for the same offer is how you improve results. Vary the design, calls to action and the headlines, then look at performance. Which page converts best? Which message lands with your audience? This is what sharpens your strategy and gets the most out of your campaigns.

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Advertising for wealth managers on Instagram, Facebook and LinkedIn

Meta (formerly Facebook) is one of the most powerful advertising platforms on the market. It lets businesses reach billions of users worldwide, through precise targeting tools. Current trends show a strong preference for video formats, in particular vertical video and stories. Optimised for mobile viewing, these formats hold attention and produce higher engagement rates.

Producing the creative, stills or video 🎥

The creative plays an important role in the success of your Meta Ads campaigns. You have to build several versions of your ads, test them to find what works best, then improve and iterate on the results.

What works best for wealth managers

Meta (Facebook and Instagram) now favours the vertical format. For our clients, videos that present a service by telling a story work particularly well. For those who would rather not go in front of the camera, we also produce high-quality motion design videos. These formats hold the audience and produce better engagement rates.

Which wealth managers is this for?

Wealth managers whose clients are individuals or young businesses get the most out of Meta Ads.

What to take away: the more your target is a niche, the harder it is to reach with Meta Ads, because unlike Google Ads, you cannot target extremely precise keywords. The best way to find out whether it works for you is to test with a limited budget.

How to target a qualified audience

Custom audience

You can target a specific audience by interests, location, age and so on. That tailors your message and reaches precisely the people most likely to benefit from your services.

Lookalike audience

If you already have a qualified audience, use Meta to reach a lookalike audience. This widens your reach while staying relevant to new prospects.

Measure and optimise 📈

As with any advertising campaign, it is essential to measure the results of your Meta Ads. Use the analytics tools to track how each ad performs and adjust accordingly. For example:

• Click-through rate (CTR) : clicks / ad views
• Conversion rate : conversions / clicks on the ad
• Cost per acquisition (CPA) : cost of acquiring a client / amount spent on advertising

These metrics show you what works and what needs adjusting.

Send people to an optimised site 🌐

Effective Meta Ads are an excellent first step, but it matters just as much to send prospects to a quality website or custom landing pages. The user experience on your site largely determines whether they convert. Dedicated landing pages, built to answer exactly what your audience expects and needs, considerably raise your chances of turning visitors into clients.

Using LinkedIn Ads as a wealth manager

LinkedIn Ads is another platform, particularly effective for reaching professionals and businesses. For wealth managers, LinkedIn makes it possible to:

What LinkedIn Ads brings

• Reach decision-makers : you can reach professionals by job title, company and sector.
• B2B advertising : ideal for wealth managers whose clients are businesses or specific professionals.
• A range of formats : use ad formats such as Sponsored Content, Message Ads and Text Ads.

Targeting strategies on LinkedIn

• Demographic targeting : select your audience by job title, sector, company size and so on.
• Lookalike audience : as on Meta, you can build lookalike audiences from your existing contacts.
• Engaging content : share articles, case studies and professional videos to catch the attention of your target audience.

By bringing LinkedIn Ads into your advertising strategy, you reach a professional audience precisely and efficiently, which complements what you do on Meta Ads.