Mobile Apps Boost Advisor Consideration

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Whether due to the increasing reliance on technology, the desire to reduce marketing costs, better segmentation or a combination of all of these, it’s clear that asset managers are streamlining their advisor marketing efforts. Continuing a trend we observed last year, the number of advisor marketing touches across all financial services providers has declined. In a recent study of over 1,200 financial advisors, advisors indicate that they receive an average of 95.7 marketing touches from financial providers each month, down from 100.9 in 2017 and 110.1 in 2016.

This decrease in touches is an overall trend rather than the scaling back of one specific medium. With the exception of social media outreach and road show invites, advisors report a continued decrease in the number of touches from email, webinars, internal and external wholesalers and print mailings. Given these facts, with fewer opportunities to reach advisors, it’s imperative for providers to maximize the impact of each touch. Continue reading

Advisor Marketing Volume Strikes a Five-year Low

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Providers appear to be easing up on the volume of advisor communications. This year, advisors report receiving an average of 101 monthly touches from providers. True, this may seem like an overwhelming volume of content to sift through, but it is significantly lower than the 110 monthly touches reported in 2016 and a dramatic shift from the 126 monthly touches reported in 2013. This decline is nearly systemic and can be seen across all types of touches except email.

Providers should seek to match their marketing strategies to the way advisors prefer to be communicated with and in a positive sign, this year firms appear to be hitting the right frequency and touchpoint. 57 of the average 101 monthly touches are emails and 56% of advisors cite email as the most effective way to reach them. However, in what appears to be an unmet opportunity, nearly one-quarter of advisors prefer external wholesaler visits, a touchpoint that has seen a decline in frequency since 2015. Continue reading

New Advisor Segments Unlock Optimal Communication Strategies

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Cogent Reports’ advisor segmentation model, Cogent Advisor Segments™, debuted in 2014 and continues to offer providers the ability to go beyond the traditional advisor channel and AUM demographics to target advisors based on their unique communication preferences.


When indexed to the average advisor, the 4 proprietary segments display distinct differences that enable providers to further hone their targeted outreach, and consequently maximize their brand consideration and revenue potential. For example, when selecting a single preferred method, Insight Enthusiasts embrace a variety of communications, the less-tenured Data Vaulters welcome support and education from external wholesalers, Digital Devotees prefer tailored information from wholesaler calls and social media, and the more-tenured Selective Oracles prefer pulling in data from emails and websites when time permits.

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Social Media Gaining Momentum for Financial Advisors [Infographic]

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Historically, there hasn’t much in the way of estimating the value of social media platforms for mutual fund, ETF and variable annuity (VA) providers. However, new tools from Cogent Reports are changing the game.

The Media Consumption™ Advisor and Advisor Touchpoints™ portals are powerful tools that track engagement on different media outlets and how advisors are using them to grow business. Despite significant barriers to use, not the least of which is the compliance office, it appears that advisors are now jumping in and using social media. Continue reading

Digital Outreach Delivers Impressive Results

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7K0A0664With the exception of face-to-face visits from a wholesaler, digital approaches deliver the biggest lift in financial advisors’ provider consideration levels across nine types of marketing outreach. Specifically, advisors exposed to the mobile apps, websites and webinars of leading asset managers have brand consideration levels that are at least 36 percentage points higher than those reported by advisors who have not had such exposure. According to Cogent Reports Advisor Touchpoints™ portal, the average lift achieved across the nine touchpoints it tracks ranges from a low of 15 percentage points for news recall to a high of 42 percentage points for mobile apps and websites in Q1 2015.

On average, more than three-quarters (76%) of advisors exposed to asset managers’ proprietary mobile apps indicated they are likely to increase business with the firm, compared with only 34% of advisors who were not exposed (a 42-percentage-point lift). Similarly, two-thirds (68%) of advisors who visited an asset management website said they are likely to increase investments with the company, compared with just one in four (26%) advisors who did not visit those same websites. Continue reading

Advisor Mobile App Use Set to Explode

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Mobile App Usage

Mobile apps are on the cusp of becoming an integral part of advisors’ professional routines, according to the results of our newly released Advisor Touchpoints™ study. Provider mobile apps considered best-in-class spawn an average of 5.8 advisor visits each month, while the more traditional best-in-class provider websites garner a comparable pull with an average of 7.1 advisor visits per month.

Advisors largely seek similar types of information from the two mediums—including product information, client-ready marketing, economic information, portfolio analysis tools and thought leadership—making the case that provider mobile apps and websites are interchangeable, underscoring the need to create and maintain an integrated approach to content and design across both platforms. Continue reading