$1.8 Million AUM Client from Facebook Ads

In this blog I want to discuss Facebook advertising for Financial Advisors. If you’re trying to get investments and asset management, retirement  planning clients, then you’re going to find this article quite interesting.

Recently I had a chat with two advisors. So one advisor is a client and is part of our program and another advisor set up a meeting to discuss with me how he can grow his practice this year.

And coincidentally, both the advisors work for the same firm. They in fact are in the same geographic market. We talked exclusively about Facebook ads.

I know a lot about Facebook ads because I’ve been using that platform to grow our own business in the last five years.

Both the advisors had a different view and reality of Facebook Ad platform.

This advisor who is looking to grow his current $12 Million AUM book is getting clients primarily with cold calling methods. He enjoys it and loves it and is one of his main methods. I do have a lot of respect for people who do cold calling and I certainly have done that in the past.

He didn’t believe that Facebook is a good platform to get high net worth retirement clients. His belief system is that “it simply does not work” and for some reason he was very convinced with that understanding.

I explained to him our process of inbound lead generation and what we find as the outcome of running facebook ads for retirement leads for financial advisors. He started to open up a bit and give some serious thought to this.

And then in the evening, I ended up talking to another advisor client to discuss his 2023 planning. We discussed his Facebook Ads that he was running in the same market as the previous advisor and works for the same firm.

Few months back, he had no knowledge about Facebook ads and he did not even know that was a thing. He came looking for some LinkedIn help and we have a great process for that platform too that we use daily.

He has been running Facebook Ads and LinkedIn and honestly he loves Facebook Ads because it is “inbound lead generation” – who doesn’t like leads coming to you while you are working on other things. Pretty cool.

Now we use “metrics focused marketing process” which is a scientific way to look at your marketing.

I asked him to give me his facebook ad metrics data. Here are his numbers.

  • Daily budget: $20
  • Total no. of Ads: 5
  • Total spend so far: $2500
  • Total no. of leads (name, email, phone, investable asset value) – 65
  • % leads with over $500K investable asset = 80% (based on response)
  • Total no. of 1st meeting – 7
  • Total no. of clients – 3
  • Total AUM: $1.8 Million
  • Total Commissions: $22,000 (he has higher commission rate in early years)
  • Total annual recurring revenue: $12,000

So he had a very strong ROI on his $2500 investment.

These 2 advisors, living in the same city and working for the same firm, had totally different views of the world of Facebook Ads.

This is how real life is. It comes down to how open you are and are you able to look at things from a logical perspective.

Saying things like “Facebook Ad doesn’t work is really naive”

The right thing to say is “Does Facebook Ad work?”

Then find people who are running ads and validate it with them.

Then you can concluded that – Facebook ads work (or doesn’t if that is what you discovered)

Then comes the most important questions – “How can I make it work for me?”

Then find someone who you can trust to lead you down the path.

Get to work and most likely you’ll find progress and some good results.

Like the advisor who ran the ads did.

We have countless stories of high quality leads that came from Facebook ads, one of the leads had a net worth of $100 Million dollars, crazy.

So  if you’re thinking, what does this Facebook ad look like?

So basically there are three main parts of Facebook ad.

#1 – The ad with image and text that people see on Facebook

#2 – Lead Magnet – a document or video that people can learn something good from (this is key)

#3 – Email and Phone call to see if they need help and then book the 1st Meeting.

Hope this helps and my advice is to consider putting a strategy like this in place in your practice.

We call this “evergreen retirement or insurance” campaign.

This allows you to drive leads anytime and all year round.

A strategy very different from one time seminar or webinar type event.

I believe in today’s netflix world, people expect “on-demand” knowledge and this campaign allows us to do just that.

Below is a blog video that I also made on this topic.

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