Broadridge Survey Shows Advisor Marketing Strategies Struggle with Time and Expertise Despite High Confidence

The intricacies of modern investment strategies require not only financial acumen but also a flair for effective marketing to attract and retain clients. Recent findings from the fifth annual Broadridge survey highlight key challenges financial advisors are facing in this domain. Notably, the number of advisors with a defined marketing strategy has plummeted to the lowest rate observed in the past five years, with only 20% in the U.S. reporting such a strategic framework in place.

Decline in Marketing Strategy Adoption Among U.S. Advisors

Despite the significant drop in the number of advisors possessing a concrete marketing plan, a juxtaposing sentiment prevails; there remains an unwavering confidence in meeting practice growth objectives. Such optimism persists even amidst the backdrop of an overburdened landscape where time constraints and lack of expertise emerge as the predominant obstacles hindering the development and execution of a competent marketing strategy.

Trends in Generative AI Utilization for Marketing

When it comes to the deployment of cutting-edge technology, such as generative artificial intelligence (AI) in marketing efforts, U.S. advisors seem reticent, with less than half currently employing or considering its use. In contrast, their Canadian counterparts exhibit a more robust inclination towards integrating generative AI, with 56% reportedly embracing the technology for bolstering their marketing strategies.

As a corporation specialized in providing vital communication tools and services for public companies, BR, also known as Broadridge Financial Solutions, remains a pivotal element in the equation. The expertise offered by Broadridge spans from the distribution of proxy statements and annual reports to advanced shareholder communication systems, including platforms to host virtual annual meetings. This suite of services underpins the connective tissue between public firms and their investors, thus playing a crucial role in the broader financial landscape.

Survey, Marketing, Advisors