The Marketing Mindset Formula

Are you getting the marketing results you want? Do you continue to chase shiny “marketing” objects and not getting introductions/referrals?

About the author

Paula Carlson

20+ years of experience in driving high net worth client acquisition and retention for wealth advisors and firms across the country.

Are you getting the results you want from your marketing? Do you continue to chase shiny “marketing” objects but not getting better results?

 Over the last 20+ years of working with wealth advisors whoserve the HNW (high net worth), those who get the best results from their marketing invest intentional thoughtfulness, time and dollars into the strategies and initiatives they implement. At Momentum we call this

The Marketing Mindset Formula: Thoughtfulness + Time +Dollars = Introductions.



Thoughtfulness is all about perception versus reality. Whatyour clients want is your reality, not what you think they want. Momentum has conducted 100+ surveys of wealth advisor clients. We have our wealth advisors and their teams complete the same survey from the viewpoint of their clients. When comparing the results, what the clients want only overlaps what the wealth advisor thinks they want by only 23%. Our most successful advisors hover around 71% but didn’t get there overnight. Start increasing your PVR (perception versus reality) today:

1.   First you need to know who your best clients are. Print out a list of your best clients with their annual revenue. Staple onto the top of a file folder for every team member to keep on top of their desks and top of their minds.

2.   Make walking in your client’s shoes a value that you and your team to embrace. Educate your team on the importance of thoughtfulness versus simply getting something done.

3.   Have you and your team drop value add ideas and articles into the folder that relate to something your best clients have visited with you about.

4.   Whether prepping for a meeting with a best client or brainstorming on a marketing event, challenge each other to come up with strategies, initiatives and activities from the client’s point of view.

5.   Set aside time in a team meeting to review the contents of everyone’s folder and determine what should be implemented.



Instead of implementing the current marketing fad or doingthe same thing they enjoy over and over again, exceptional wealth advisors invest a significant amount of time in determining their marketing strategies and initiatives. Typically they begin in October with a client survey in order to have the results by November. November is their business planning month including meetings with leadership only and meetings with their entire team. Including the entire team is paramount to understanding your clients as a whole as they learn important things about your clients while servicing them throughout the year and these must be considered while deciding upon marketing strategies and initiatives. Since the last part of December is a slower time, it is spent on nailing down the who, what, where and how on their service model, experience, touches and events. This is also the time to finalize how much you are going to spend on your marketing efforts. Get started today by scheduling time in your calendar as follows:

1.   October: Annual formal survey.

2.   November: Leadership and team planning sessions and nailing down your client service model and experience.

3.   December: Finalize touches and events.


How much do our exceptional wealth advisors invest (notspend) on marketing? Those in growth mode spend 7 to 10% of their gross revenues. Those maintaining invest approximately 3 to 5%. Spending anything less than 3% and you’ll have no chance of keeping up with your competition. When considering your marketing investment:

1.   Get out your client segmentation list that includes each client’s annual revenue.

2.   Calculate the annual gross revenues for each segment.

3.   Calculate the five year revenue for each client (or your average length of HNW client tenure).

4.   Calculate what your investment in marketing will be at a 5%, 7% and 10% level.

5.   Determine how much you will spend on each segment and each client.

6.   Not only will this help you identify the amountof dollars to spend on each client and segment, it will help you identify where you and your team should be spending your time.

Now that you know the secret sauce we use when working with wealth advisors who want to increase introductions and referrals from their best clients:

The Marketing Mindset Formula: Thoughtfulness + Time +Dollars = Introductions

Want to learn more? Reach out to me at 612-803-9554 (call ortext) or paula@momentum-driven.comto schedule a Discovery Call.

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Paula Carlson
Chief Momentum-Maker
4951 W 77th St. Ste 29
Edina, Minnesota 55435
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