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Growing Your Business with Lead Generation

Mike McGlothlin   |   December 2022   |   1-minute read
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The Story

A financial advisor needs leads to grow their business.

The Problem

Finding qualified leads is difficult — even for advisors with time and marketing knowledge. Hosting client seminars on Zoom, or at lunch and learns, was not producing results. John thought about using paid advertising but didn’t have a good offer to promote and needed a team to execute the campaigns. He needed to stop chasing dead-end leads and focus on prospects with the potential to become A-list clients.

Advisor Profile

John has a smaller practice and doesn’t have the creative resources to create content or manage ads.

But he is ready to:

  • Grow his book of business
  • Add value for long-term succession planning
  • Cultivate a growth mindset

Ash’s lead generation services work well for advisors who are great at nurturing prospects, but don’t have an extensive network to find new contacts.

How it Works

John used Ash Brokerage’s Retirement Readiness Calculator ads as part of his social media strategy. The month-long campaign returned qualified leads for John, who, in turn, was responsible to follow up and close the sale.

The process consisted of three steps:

  1. Used paid Facebook ads featuring the Retirement Readiness Calculator to obtain leads
  2. Reviewed calculator entries to understand the prospect’s current accounts, balances and the amount that their retirement income can be improved
  3. Scheduled meetings with the prospects to create a plan and win them as a client

Why Paid Ads Work as a Lead Generation Tool

A good lead generation program not only leads to increased business for the advisor — but it also solves a problem for a prospect. In this case, the campaign is answering the question of how much they can safely spend in retirement. Instead of indecisive leads, the advisor is matched with a prospect who is potentially interested in a new strategy for retirement income.

The Result

Over the one-month run, the campaign was able to deliver numerous leads at a reasonable cost:

  • $1,000 Facebook ad spend
  • 69 leads generated
  • $14.49 cost per lead*

For each lead who completed the calculator, John received real account balances, so he could start outlining next steps. In this case, he was able to work with $30 million in additional assets and schedule five appointments to help clients increase confidence in their plan.

*Cost of lead is calculated based on a $1000 ad spend. Each campaign also includes a management fee.

Mike McGlothlin
About the Author

Mike McGlothlin, CFP®, CLU®, ChFC®, LUTCF®, NSSA® is a bestselling author, industry-renowned speaker and expert in growth strategies for financial advisors.

Today as the Executive Vice President of Retirement for Ash Brokerage, he leads 65 direct reports who have grown a business line 300% in the last six years and is now one of the largest wholesaling teams in the Brokerage General Agency space.

As a professional guide he can help any financial advisor looking to create exponential revenue growth, to find new clients and better streamline their operations by incorporating his simple methodologies and proven models.