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10 Mistakes Financial Service Firms Make That Sabotage Their Success

In today’s competitive landscape, success hinges on more than just financial expertise. It’s about building trust, establishing authority, and effectively communicating with your ideal clients. 

While mastering the market or the IRS’s many curve-balls is (obviously) crucial, savvy financial service firms understand the importance of crafting a compelling brand identity and creating a user-friendly online presence. 

Here are ten common mistakes that can hinder your firm’s growth, and how to avoid them:

1️⃣ Hero Complex

Remember, it’s not about you; it’s about your client’s needs. Sure, you’ve got the financial know-how, but your clients need a partner, not a superhero. In fact, the Storybrand marketing framework is all about telling the story of your client. With the help of their trusted guide (YOU!) who navigates the complexities of the financial world alongside them, they overcome their challenges and struggles. 

2️⃣ We vs. You

You want to know a quick way to tell if you’ve got the hero complex mentioned above? Review your website and take note of how often you say “WE” versus how often you say “YOU.” If your marketing materials are filled with “WE,” you might be falling into the mistake of telling your brand’s story instead of your client’s. 

If you need more convincing that YOU is better than WE when it comes to marketing, check out this blog post. 

3️⃣ Authority Isn’t Enough

Sure, you’re an expert, but that’s just the table stakes. Great marketing emphasizes not just a brand’s authority, but also its empathy. Remember, you are the guide. You need to deeply understand your clients’ challenges and anxieties. Show them you’ve been there, and you’re here to help them overcome those hurdles.

4️⃣ Burying the Treasure

Spare your prospective client from having to wade through jargon. Speak to real people in plain language. Clients want clear, concise information about how you can solve their problems. Imagine your website as a treasure map – guide them to the valuable info they seek, ditch the jargon, and make everything easy to understand.

5️⃣ Acronym Soup

Define the terms. Speak plainly, or lose your audience. The financial profession is filled with jargon and acronyms that can confuse normal folks. Always explain what you mean in clear, simple language. Your clients will appreciate your effort to make financial concepts accessible.

6️⃣ All Words, No Design

A text-heavy website is like wading through mud. Your customer will absorb the information you’re sharing when it’s broken up with visuals, headers, and white space. 

A visually appealing website is not just aesthetically pleasing – it keeps visitors engaged and wanting more.

7️⃣ Stiff Stock Photos

Authenticity matters. You’re in the trust business. Your prospective clients want to see some real smiles, not just stock images of models or static overly-smiley people looking at their phones. Use real photos of your team, your office, and your community involvement. Let your personality shine through. Bonus points if you can include photos that contextualize your services to the communities and cities you serve, like a city skyline in the background. 

8️⃣ The Great Wall of Text

People scan; they don’t deep-dive into text oceans. In today’s fast-paced world, nobody has time to wade through a sea of text. Break information down into bite-sized pieces. Use bullet points, subheadings, and short paragraphs to make your content easily digestible.

9️⃣ Plain Jane Brand

Stand out! Being boring is a crime in marketing. Your firm’s brand should reflect its personality and values. If you’re blending in with every other financial service firm, you’re missing out on a chance to connect with potential clients. Think outside the box and make your brand memorable.

🔟 Under-Using LinkedIn

LinkedIn is not just a resume dump—it’s where you can connect with peers, share insights, and build a network. Be active: comment on posts, share your expertise, and engage with your community.

Check out our posts on the value of LinkedIn for businesses here and here.

Champion Your Brand Story

Don’t just advocate for your clients—advocate for your brand. Cut the jargon, bring in personality, and make your marketing as compelling as your financial advice. A well-crafted brand story can set you apart from the competition and attract the clients you want to serve. 

Closing argument

By avoiding these common pitfalls and positioning your client as the hero, you can establish your financial service firm as a trusted guide and voice in the often-complex world of investment professionals, CPAs, and the like. Remember, your ideal clients are out there – make sure they can find you and see the value you offer. 


Not sure if your firm has a brand story?

 Or maybe you’re unclear on how to implement it in your marketing materials? 

Set up a call. We’d love to build your marketing roadmap to establish your brand as the trusted guide you are.

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