FEE-ONLY MARKETING
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Powering the Fee-Only Movement: The Role of Your Online Visibility
By Allan Slider
I believe the momentum of the Fee-Only movement lies in the collective online visibility of individual advisors and firms. By adopting a straightforward online marketing framework, starting with simple website changes, Fee-Only firms can elevate their own businesses while growing awareness of the importance of transparency and unbiased advice for investors. As a result, consumers will likely pursue financial planning and investment management services with advisor compensation and the fiduciary standard top of mind, reshaping industry perception for the next generation.
An Army of Ants, Not David Versus Goliath
Lead generation websites, matching services, broker-dealers, mega fee-based firms, and "top 10" lists are dominating internet real estate and consumer eyeballs through sophisticated content strategies, sponsored articles, targeted ad campaigns, and even gray hat search engine optimization (SEO) techniques. Consider the collective marketing power, the budgets, the tech stacks, and the C-level involvement of these campaigns collectively. For advisors, it is hard to fathom successfully competing against that but it is the reality. For consumers, it is confusing, overwhelming, and even frustrating.
Despite what may seem like daunting competition, true fiduciary and Fee-Only advisors have a unique and powerful collective arsenal at their disposal. Consider that within NAPFA alone, there are around 4,500 Fee-Only advisors across 2,500 firms. Your combined online presence is substantial:
- 50,000+ media mentions
- 20,000+ professional profiles on association and designation websites
- 15,000+ LinkedIn profiles (including employees of Fee-Only firms)
- 15,000+ advisor directory profiles
- 2,500+ websites
- 100,000+ blog posts
- 2,000+ X (Twitter) and Facebook accounts
- 100+ podcasts
However, simply having an online presence is not enough to shift consumer mindset. A more unified strategy is needed to amplify the visibility of Fee-Only advisors. This collective effort not only benefits individual firms but also contributes to a broader shift in industry perception, promoting transparency and the fiduciary standard.
The Ripple Effect of Individual Efforts
Every aspect of your marketing, no matter how small, can alter decisions and have a significant and collective impact on the industry. By making small improvements to your online presence—starting with your website—you attract more prospects while educating consumers about the concept and value of Fee-Only advice and the fiduciary standard. As consumers shift from confusion to clarity of the Fee-Only model, they will begin to seek out advisors who adhere to these principles regardless of when, where, or how they ultimately choose a financial advisor. This shift in consumer mindset will put pressure on the industry to adopt more transparent and client-centric practices, ultimately leading to better outcomes for investors—and you.
Explaining Fee-Only and Fiduciary is Critical
As part of the FeeOnlyNetwork service, I've reviewed over 3,000 Fee-Only firm websites during one-on-one consultations to brainstorm simple changes to content, linking, and user experience that can improve SEO, conversion rates, and online presence. It is safe to say that I have seen the spectrum of advisor websites—from single-page GoDaddy sites to sophisticated agency-managed platforms with content personalization and integrated social media campaigns.
Regardless of a website's budget or complexity, I've noticed one universal opportunity for improvement that applies to nearly every firm: effectively communicating the Fee-Only model and fiduciary commitment. Many firms either undersell this distinction with a brief mention or overcomplicate it with dense language and tired analogies.
The sweet spot lies in clear, authentic communication that educates without overwhelming. This explanation is crucial; it helps prospects understand the difference between Fee-Only fiduciaries and commission-based alternatives. The prospect's journey might not end at your door right away but what you say and how you say it can make a difference in where they end up.
A Checklist for Explaining Fee-Only and Fiduciary
Give It a Dedicated Page
This content is worthy of its own page! It signals to potential clients that you prioritize transparency and are committed to educating them about your service model, setting you apart from advisors who may not emphasize these important distinctions or can not even mention them.
Consider a page name like: "website.com/fee-only-fiduciary-advisor." This SEO-friendly URL improves search engine visibility, boosts click-through rates, and clearly signals the page's content to both users and search engines. It makes the link more shareable for you, and potentially increases the likelihood of others sharing it as well.
Share! Share! Share!
Post about this page on your social outlets. Share the link with prospects early on in your process. If you reject a prospect, share this page and encourage them to only seek out Fee-Only advisors. If a prospect rejects you, share it and encourage them to only seek out Fee-Only advisors. If a client leaves you, share it and—you guessed it, encourage them to only seek out Fee-Only advisors!
Include a Personal Quote That Stands Out
Content about the fiduciary standard will be boring to most. Including a personal, conversational quote adds a human touch and highlights its importance. You'll be able to better express why you're passionate about this model. A relatable quote can share your motivation, highlight client benefits, or simply show your dedication to their financial well-being. This personal insight helps visitors connect with you as a person, not just a service provider.
Add a Video—Short-form is Fine (and Preferred)
Adding a short video can significantly boost engagement and information retention. A brief, well-crafted video allows you to explain Fee-Only and fiduciary concepts in a more dynamic and accessible way. It caters to visual learners, adds a personal touch by letting clients see and hear you, and can convey complex information quickly and memorably. Even a one- to two-minute video can effectively summarize key points, show your personality, and make the page more interactive and shareable on social media platforms.
Provide an Overview of Your Fee Structure and Link to Details
Briefly outline your fee structure (percentage of assets, flat fee, hourly rate, etc.) to show how it aligns with the Fee-Only model. This overview satisfies casual browsers while allowing interested prospects to explore further through a prominent link to more details and a call-to-action where you can explain your fees in a meeting. Transparency builds trust and helps potential clients understand your pricing upfront, setting clear expectations from the start.
Conclusion
I hope these recommendations provide you with inspiration and ideas for enhancing the Fee-Only section of your website, which plays a crucial role in establishing credibility, educating, and connecting with potential clients. By optimizing your online presence, you'll contribute to the collective visibility and impact of the Fee-Only financial planning movement.
Allan Slider is the founder of FeeOnlyNetwork.com and an advocate for Fee-Only financial advisors. FeeOnlyNetwork.com's mission since 2012 is to put Fee-Only financial advisors at the front and center of the internet—individually and collectively. Learn more at FeeOnlyNetwork.com/learn-more.
image credit: Adobe Stock Images
