EVENT PLANNING

Turning Events Into Assets: The New Paradigm for Financial Services Events

By Elyse Stoner and Angela York

Events have been a marketing tool in financial services for years.Traditionally perceived as an important tool to show appreciation, deepen relationships, and increase the likelihood of referrals, events are often those programs we feel we need to do because our coaches and partners encourage us to do them and/or because we see other “successful” advisors having events. Historically, financial services event planning followed the shampoo bottle method: “Lather, Rinse, Repeat.”

Today’s successful events break that cycle.They are based on your business goals, have their own connected metrics, and are intentionally designed with feedback and follow-up opportunities that seamlessly link to your business activities.  

What does all this mean? The best way to explain it is by sharing questions we hear from advisors around the country and providing our answers, which are based on our extensive event experience. There are also examples you can implement in your 2025 marketing plan.

Let’s start at the beginning.

Q: Why host client events?

A: Hosting client events is a vital marketing tactic for financial advisors, as these gatherings focus on cultivating strong and lasting relationships. By creating interactive sessions and engaging activities, regardless of the venue (in person, virtual, or hybrid), advisors can foster meaningful two-way conversations with clients, as well as naturally create client communities encouraging relationships among clients. When clients feel a personal connection to their advisors, they are more likely to exhibit loyalty and refer others, strengthening and naturally growing the advisor's network. The memories forged during these events play a crucial role in enhancing the overall advisor-client relationship, making it less transactional and more relational.

Moreover, client events serve as strategic opportunities for business growth. They allow advisors to gather valuable feedback and insights directly from clients about their services and what matters most to them. This information is essential for refining service offerings and driving innovation, ensuring client satisfaction. By creating positive emotional memories through tailored experiences, advisors can deepen trust and loyalty. In turn, these meaningful experiences align with clients' interests and values, reinforcing the critical bond between clients and advisors.

Q: What kinds of events should we start with and how many should we do per year?

A: When considering the types of events to host, start with a balanced mix of social and educational events that cater to your ideal clients’ interests and logistical needs. A good starting point would be to incorporate events focused on financial education that are of interest to your clients, as these provide valuable insights for them. Additionally, client appreciation events like luncheons or networking mixers can help foster stronger relationships. As for the frequency, we always recommend quality over quantity. If your clients only want (and will attend) one event then just host one. If they will attend more, then shoot for four (one per quarter and a mix of two educational and two social). Also, if you tailor your events by segment you may have quite a few so each segment has the right amount of quality engagements—keeping clients engaged without feeling overwhelmed. It's important to assess client feedback and engagement levels to fine-tune the event strategy as you move forward.

A few examples:

Client Appreciation

Education

Q: Why don’t my events work? I often have low attendance and rarely get new clients afterward.

A: The statement “my events don’t work” is often a result of measuring the wrong thing. As business owners ourselves, we get it; event ROI is not as cut and dry as we’d like it to be, which further complicates things. Of course every expenditure requires a success measurement so through our years of experience we created the Return on the Moment (ROM™) approach. Leveraging ROM™ involves measuring the event objectives against the actual outcomes, focusing on specific measurable outcomes rather than a simple comparison of “I spent x and made y.” Here are three strategies to elevate your ROM™:

  1. Align Events with Client Interests
    Advisors should craft events that reflect the passions and preferences of their ideal clients rather than following a generic formula. For instance, if the target client demographic ranges from young professionals to retirees, the events should cater to their differing interests. Never make assumptions. Always ask your clients about their personal and financial interests and align your events accordingly.
  2. Foster a Collaborative Atmosphere
    Creating a collaborative environment encourages more meaningful connections among clients and advisors. Incorporating breakout sessions or workshops can foster dialog and idea-sharing. Advisors can also encourage clients to share insights with each other; this not only enhances the event experience but also positions the advisor as a community builder, further solidifying their role.
  3. Use Events for Strategic Feedback
    Client events can serve as valuable forums for obtaining feedback on services or new initiatives. Advisors can take the opportunity to present new ideas or services and gauge client reactions in real-time. This feedback can be integrated into ongoing strategy development, ensuring the advisor’s offerings resonate with client needs. Also use post-event feedback as a tool to learn more about your clients. For example, if you host a wine tasting event, ask which wine was their favorite, input that in your database and send that wine to the client as a holiday gift or partnership anniversary marker. This is FAR more impactful and creates more positive emotional memory versus simply asking if they like the wine!

Q: Do I have to spend a lot of money for an event to be memorable?

A: Creating a memorable event doesn't always require a substantial financial investment. The right strategy can help mitigate costs while maximizing impact. There are numerous affordable venue options that can still provide a unique and memorable experience for your clients. Additionally, virtual events have become increasingly popular and can be an excellent option for engaging long-distance or busy clients without incurring significant costs associated with traditional in-person events.

It's important to remember the key to creating a memorable event lies in the thoughtful planning, meaningful content, and engaging activities that resonate with YOUR ideal clients, rather than the lavishness of the venue or setting.

Tips

Affordable Venue Options

Virtual Event Options

Conclusion

Hosting client events is a powerful tool for financial advisors seeking to strengthen client relationships with a business growth goal. By embracing strategic event planning that prioritizes client engagement and feedback, advisors can create memorable experiences that foster loyalty and trust. It’s essential to move beyond the formulaic event approach countless firms currently employ and instead focus on what truly resonates with clients, ultimately paving the way for a successful and sustainable advisory practice. 

As the financial landscape continues to evolve, the personal connections forged through these events will be more critical than ever. So the question remains: Are you ready to take the plunge and host your next strategic client event? The potential rewards—both for your business and your clients—are well worth the investment.

Elyse Stoner and Angela York of Event Advisors blend expertise in event marketing and financial services to transform client relationships. They emphasize the Return on the Moment (ROM™), delivering innovative strategies that enhance event success and drive growth for financial professionals. They can be reached at Hello@event-advisors.net.

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