Advisor Products and Constant Contact are now powering video email newsletter campaigns for advisors with educational FINRA-reviewed scripts and slides derived from economist Fritz Meyer’s research. For $400 a quarter (one-year commitment), API-CTCT will:
- Provide you a three-minute FINRA-reviewed video script
- Record you over the phone reading the script
- Add your narration to graphic investment news update videos
- Post your video to your YouTube Channel
- Write a 300 world article about the economy related to the video
- Layout article, embed your video, and post it to your blog
- Write, design, and brand an email campaign featuring your video
- Upload your contact list to Constant Contact
- Send the email campaign to your contact list
- Review your analytics with you to improve results every quarter
For more information, call 888 274 5755 or contact us .
The main components of a powerful new client portal for financial professionals is now live on production servers. It’s integrated with:
- MoneyGuide Pro
- Advent Axys
- Advent APX
- Schwab PortfolioCenter
We’ve added interfaces to performance reporting and financial planning apps to AdvisorVault 3, a secure client vault for RIAs. A Redtail CRM widget goes live in March.
Data from MoneyGuide Pro, Advent Axys, Advent APX, Schwab PortfolioCenter, AssetBook, and Albridge show up in a client financial dashboard. By placing a client’s MoneyGuide Pro Plan Confidence Ratio above portfolio performance, you relegate performance to a less importance place.
If you’re using AdvisorVault’s interfaces with SchwabPortfolioCenter, Advent Axys, Advent APX, AssetBook, or Albridge the client dashboard is free. Instructions about how to add the widgets are in the video below.
If you are an AdvisorVault user and you also use MoneyGuide Pro, you’ll need to map your MoneyGuide Pro plans to each client’s vault. Call us at 516 333 0066 x235 and ask to set up an appointment to learn how to map client vaults. The MoneyGuide Pro interface costs $300 to set up and $200 a year.
A widget feeding your blog posts into the client dashboard is expected at the end of the first quarter of 2015.
The other unique aspect of this client portal is its seamless integration with the Constant Contact email newsletter campaign system. An RIA can send a Constant Contact email campaign to all its clients telling them to read the firm’s Form ADV and link to the document in your client vault. Constant Contact tracks who clicked on the link and AdvisorVault tracks who opened it as well. This can be a great way to systematically show your form ADV to clients.
Advisors can use Constant Contact’s autoresponder to automatically remind recipients to view their Form ADV, automating and systematizing a manual process of delivering this required disclosure document,a nd creating an audit trail to prove receipt. If you’re an AdvisorVault user and want to work with me on a Form ADV email campaign, please email me at sales at advisorproducts dot com.
Constant Contact (CTCT), a world leader in online marketing tools, shared a booth with Advisor Products at Schwab IMPACT 2014, and we used the occasion to launch a concierge marketing service for financial advisors.
From the left to right: Steve Gordonson, CTO of Advisor Products since 1997; Trevor Moore, a financial advisor marketing consultant at API; Tim McNamara, head of sales for North America and Europe at Constant Contact; and Mindy Cohen, a Constant Contact specialist in financial advisor marketing.
At the conference, Advisor Products and Constant Contact launched a concierge marketing service that enables advisors to outsource a strategic program for online engagement marketing. With the concierge marketing service, you get a complete online marketing solution, customized to your strengths and niches.
Email key performance indicators measuring each monthly campaign’s results are used to refine your marketing strategy and make campaigns more effective by identifying financial planning topics that engage individual contacts.
Constant Contact Certified
With the API-CTCT concierge marketing service, a Constant Contact Certified Solution Provider (CSP) sends email campaigns to your contacts monthly. CSPs are independent consultants, who have been trained on an accreditation curriculum covering Constant Contact’s suite of online engagement-marketing tools as well as marketing best practices.
How Concierge Marketing For Advisors Works
With the Advisor Products/Constant Contact concierge marketing service:
- You and your CTCT marketing coach design an online marketing strategy aligned with your niche markets.
- Timely new campaigns written by Advisor Products are posted to advisor websites every month.
- A CTCT Certified Solutions Provider sends the campaigns and helps you manage your contact list.
- Monthly analytics are reviewed with your coach to reveal contacts to call
- Based on which links in your emails your contacts click on, you tag your contacts to create lists aligned with your niches
By combining Advisor Products financial news content and websites with a Constant Contact Certified Solution Provider who implements your campaigns and strategic guidance from a Constant Contact coach based on objective analytics, the concierge marketing service provides a comprehensive solution for advisors to engage clients, prospects, and centers of influence.
For more information, contact us (888) 274-5755.
Advisor Products and Constant Contact have teamed up to provide financial professionals a concierge marketing service.
- Outsource all your marketing to pros
- High-touch, high-tech service
- Timely educational campaigns monthly
- Analytics to measure return on every marketing dollar you spend
- A marketing coach dedicated to your success
- Executed by a Constant Contact Master Certified Solutions Provider
Concierge Marketing For Advisors is for you if you can’t ever find the time to send an email newsletter. You and your Constant Contact coach design a strategic marketing plan based on your unique strengths. Then, a Constant Contact Master Certified Solutions Provider implements your plan using our integrated content marketing platform. You and your coach refine your list and tag your contacts’ based on their “financial focus areas” to craft strategical email campaigns month after month for a year.
With Concierge Marketing For Financial Advisors, you get:
- A marketing plan, calendar, and metrics to determine your success
- Uploading, segmenting, and completely managing your contact list
- A monthly professionally crafted email to engage your audience
- List growth tools designed to reach your audience via multiple channels
- Sharing through your social media networks
With TV, social media, and financial news portals relentlessly undermining advisor relationships and bombarding investors with a confusing cacophony of wealth management tips, regularly reinforcing good investor behavior is the right thing to do for your clients, and it also happens to be the smart thing to do for yourself.
So we’ve literally made it effortless for advisors to reinforce good behavior once a week. We’ve added a new feature to the weekly update email that allows advisors to send their contacts a message every Friday at 6 p.m. ET that gently reinforces best practices that are aligned with a financial professional’s perspective. The new version of the weekly update includes two links to leading financial news sites, as always, but now the third link in the update is an email campaign integrated with advisor websites.
The weekly email update is a way to fight back at financial noise. It allows you to send your contacts timely, authoritative content for UHNWIs. UHNWIs need content about investing, retirement income and tax minimization; they don’t care whether you write. The just want concise intelligent ideas. Providing quality content enhances your credibility and demonstrates a commitment to education, satisfying basic requirements of successful Internet marketing.
Advisor Products weekly email update has long been popular with advisors. Since September 2001, we’ve summarized the performance of major indices and linked to three articles about the week’s investment news.
The new feature adds a link in an advisor’s weekly email update newsletter to articles on advisor websites, which are written by Advisor Products with the aim of reinforcing good financial habits.
After stock prices swung wildly several consecutive days last week, Friday’s email update included an article by Advisor Products reporting that the correction had occurred in the face of strengthening economic data. The FINRA-reviewed article lists positive economic data released in September and October. It’s a reminder to your contacts that a change in investor sentiment can cause corrections and even bear markets, but that economic fundamentals matter most to investors in the long run, and that fundamentals were strong when the correction hit.
Addressing the financial headlines in your weekly email newsletter makes people more likely to click on a link in your email and read the article on your website — where a call to action offers a free video whitepaper on retirement income, social security, estate planning, or college investing. This is classic email marketing made effortless, and you can measure the results and optimize it.
Your contact list is managed in Constant Contact, and you can view analytics to see who opens each email — down to each reader’s name and which links they clicked. Constant Contact and Advisor Products last July signed a long term strategic pact to provide financial professionals with email marketing. Constant Contact is bundled into Advisor Products’ Financial Advisor Communications System, along with unlimited coaching from Constant Contact.
While last week’s email update addressed the correction, a range of other focus areas will be covered in the months ahead. Over time, advisors can determine which focus areas each contact is interested in and build separate lists in each focus area. Those lists become a way of targeting information to each contact, engaging them.
Content for the weekly update is based on continuing professional education webinars presented by thought leaders in the financial advice profession weekly via Advisors4Advisors, an affiliate of Advisor Products. Advisors can preview the email newsletter at 6 p. m. ET Fridays, but most advisors send the weekly update automatically. It’s a totally unique way of educating advisors about best practices aligned with a marketing platform.
Since January, we have been developing a new client portal for advisors.
The new client portal is built into AdvisorVault, which is used by hundreds of RIAs. AdvisorVault is a highly customized version of Microsoft SharePoint explicitly designed to meet the needs of financial advice professionals.
We are replacing traditional Windows Explorer folders used to navigate vaults with a Windows 8 and Apple design aesthetic — a major leap forward in the look of our client vaults. More important than the look, however, are new data feeds into AdvisorVault of popular performance reporting, financial planning and CRM apps used by RIAs. The data feeds transform your client vaults into a client portal — a single place for UHNWIs to go to manage their wealth in collaboration with a financial professional.
Data fed by your CRM, planning, and portfolio accounting apps show up as “Web parts” or “widgets” in a client dashboard. Settings for which widgets are displayed in your client dashboards, and where, are controlled by you.
One widget fed by your portfolio reporting app will display a client’s asset allocation by asset class (utilizing asset classes you’ve set in your portfolio management software (PMS) system). Another widget displays total returns. Point is, an app can feed multiple widgets.
At the end of October, we will enable widgets displaying data from portfolio reporting apps — PortfolioCenter, Advent, AdvisorsAssistant, and AssetBook, followed by Albridge two- to four-weeks later.
At the end of November, you’ll be able to display a widget showing a client’s MoneyGuide Pro “Plan Confidence Meter” along with a net worth bar chart.
At the end of December comes the widget most special: You’ll be able to display a list of tasks (activities) in Redtail CRM that will populate widgets in your client dashboard. From Redtail, you’ll share clients’ to-dos. They automatically feed client dashboards. No uploads or imports needed — it’s a Web service using Redtail’s application programming interface.
Advisors can assign clients tasks, like, “Please send me your 1099,” or, “Please fill in this risk profile.” In the widget, tasks assigned clients are listed as “incomplete” until the client responds, at which time you use your Redtail CRM to mark the task as “Completed.” Anytime you add, comment on or complete a task in Redtail, the client is emailed a link to the update in his portal. The portal is displayed in HTML5, making it viewable on any device.
You can display “Completed” tasks in a client’s dashboard. That’s incredibly powerful! Listing all of the tasks you completed for the client in the last year presents a clear statement of the value you provide to each client.
Assigning clients tasks and tracking them in their personal portal is a new, highly transparent way of practicing for financial professionals.
In the first quarter of 2015, widgets will let you display Advisor Products videos and articles in client portals, feeding clients with financial ideas consistent with best practices articulated by thought leaders. The potential to educate clients and prospects continually is an exciting and humbling goal we share with you.
The integration of Advisor Products content with Constant Contact is boosting advisor email campaign open rates by nearly 100% over the average advisor’s open rate, according to data from users.
Advisor Products integrates Constant Contact’s email marketing tools and analytics into financial advisor websites, and the first users of the integrated app provided their email “key performance indicators,” which are tracked in Constant Contact.
Advisors using Advisor Products with Constant Contact are experiencing an open rate nearly double that of the average financial advisor using Contact Contact, as summarized below.
Constant Contact publishes email KPIs for 38 types of small businesses, including financial advisors.
Email KPIs are universally accepted metrics of effectiveness of email marketing. Email KPIs are a familiar concept to investment advisors because they are akin to the benchmarks advisors use to measure investment performance and put it in proper context.
While I am pleased that Advisor Products content drives much higher email KPIs than the average advisor, Advisor Products is engaged in a long-term strategic effort to leverage Constant Contact to help financial professionals educate investors to market to them. As Constant Contact begins to coach users of advisor websites by Advisor Products about how to refine their contact list, and as Advisor Products aligns content to optimize advisor’s outreach to clients and prospects, you can expect improvements on these very promising early figures.
Keep in mind, it’s all about content. Ideas do matter. Advisor Products content for UHNWIs is derived from presentations made by thought leaders at weekly continuing professional education webinars produced since 2008 by Advisors4Advisors.
Financial Advisor Communications System bundles Constant Contact’s unique abilities to engage you with Advisor Products unique abilities in content marketing.
After Working Together For Months, Constant Contact And Advisor Products Announce Strategic Partnership
In mid-February 2014, Tim McNamara, who heads sales at Constant Contact, the world leader in online marketing, called Steve Gordonson, a partner in Advisor Products. Since then, we’ve worked intensely with the leadership team at Constant Contact, including Alec Stern, the sole co-founder of Constant Contact still working at the company. The partnership establishes a way for advisors to get email campaign open rates nearly 100% higher than the average financial advisor using Constant Contact.
Tim had spent five years in business development and operations at Schwab and then 10 years as an advisor at UBS, Morgan Stanley and Wachovia. He’s been an internet entrepreneur, having built the nation’s first online divorce platform. A year ago, Tim became the head of business development for North America and Latin America at Constant Contact.
Tim had been a reader of my column in advisor trade publications since the mid-1990s. During our first phone call, Tim said he had been a “raving fan” of mine for years. Tim had stumbled into Advisor Products integration with Constant Contact and was impressed. When he tracked down its source, he was thrilled to learn it was me.
You Can’t Make This Stuff Up
The head of business development for the largest email marketing tools company on the planet understood what Advisor Products is doing to help financial professionals reach UHNWIs and he valued it. Tim showed it to Alec, who confirmed that Advisor Products’ integration with Constant Contact was as seamless as he had ever seen, and he said that our content struck exactly the right tone and message for engaging UHNWIs. These guys got it!
Since that first phone call in February, Advisor Products and Constant Contact have worked intensively together. On July 1, we signed a multi-year strategic partnership that is a big win for us both and, more importantly, a win for advisors.
Advisor Products has bundled Constant Contact into its advisor websites. Constant Contact comes with Financial Advisor Communications System.
The integrated system gives you the strengths and unique abilities of both companies: Constant Contact’s ability engages you, to make you use your email newsletter. Advisor Products unique abilities in creating content for UHNWIs derived from thought leadership continuing professional education about wealth management. The result is measured by comparing your email key performance Indicators versus the average advisor using Constant Contact.
Constant Contact coaches are calling Advisor Products clients to be sure you know about all of our exciting news and be sure you know how to use all the tools and analytics as well as the benefits of Advisor Products content marketing system for advisor websites. .
The joint press release makes it all official, but we are well on the way toward providing financial advisors a best-in-class content marketing system that includes a client portal integrated with the best apps used by advisors.
Email marketing is the most effective marketing tool available to financial advisors but not all email marketing platforms perform the same. Fortunately, performance measurement of the efficacy of email marketing platforms comes down to a few well-defined key performance indicators—email open-rates, click-throughs, delivery rates, and adoption of campaign-tracking technology.
Aberdeen Group, an independent research firm, in an April 2011 Research Brief, evaluated major email campaign platforms based on email marketing KPIs including:
- Email open-rates
- Click-through rate
- Delivery rate
- Adoption rate
Aberdeen research is respected. It studies the experience of practitioners across industries to produce “fact-based analysis based on a proprietary framework independent of outside influence.” Its process identifies “Best-In-Class” providers. In email campaigns, Constant Contact is best in class, according to Aberdeen’s study. Aberdeen’s authoritative study of email marketing KPIs — summarized below — is instructive to financial advisors, especially Advisor Products users currently being contacted about upgrading to our powerful new platform, which integrates seamlessly with Constant Contact for email campaigns.
“Constant Contact users demonstrate better results than users of other email solutions in several key performance indicators that are critical in measuring email marketing effectiveness,” according to Aberdeen, “with 36% (open rate) and 60% (click through rate) better marketing activity rates.”
Of the 600 executives surveyed in Aberdeen’s study of email campaign software, 286 were companies with fewer than 100 employees. Here are highlights of Aberdeen’s study of the performance of email campaign platforms over a one-year period:
- Email open-rates of Constant Contact users improved by 5.6% versus 3.1% for users of other email marketing systems.
- Click through rates of Constant Contact users improved by 5.4% versus 2.2% for users of other email marketing systems.
- Delivery rates of Constant Contact users improved by 7.4% versus 4.1% for users of other email marketing systems.
- Revenue generated by Constant Contact users 5.8% more revenue over the one year period versus 2.1% for users of other email marketing systems.
- Constant Contact users were 38% more likely to have a process for updating their database by removing opt-outs
- Adoption of technology to track, measure, and report on email marketing activities is 77% higher among Constant Contact users.
That last bullet is most significant. Adoption of analytics for tracking the effectiveness of email campaigns was 77% higher among CTCT users than the average user of the other email marketing platforms, according to Aberdeen. The report concluded that companies that develop a formal process for tracking analytics outperform those that do not, specifically, by generating 32% higher growth in revenue from email campaigns.
Advisor Products is working with senior leadership at Constant Contact to engage financial professionals in conducting measurable email campaigns. Advisor Products now bundles Constant Contact into its content marketing solution for advisors, the Financial Advisor Communication System.
Email newsletters are enjoying a renaissance and remain the most effective marketing tool available to financial advisors.
“Email newsletters, an old-school artifact of the web that was supposed to die along with dial-up connections, are not only still around, but very much on the march,” says media columnist David Carr in The New York Times. “Bloomberg, Fast Company, The New York Times, Politico and many other news organizations are finding that they can grab attention — and readers — in the inbox.”
According to Carr, readers drowning in the flood of information on the Internet yearn for organized information to bring order to the chaos. “At a time when lots of news and information is whizzing by online, email newsletters — some free, some not — help us figure out what’s worth paying attention to,” Carr says.
So I am pleased that Constant Contact, the world leader in email marketing, has partnered with Advisor Products. As a result of this partnership, advisors are able to conduct educational email marketing campaigns with content that UHNWIs actually value. While Advisor Products has had an email newsletter since September 2001, integrating Constant Contact is a game-changer for our users.
Our email newsletter content combined with Constant Contact’s technology, templates, analytics and personal coaching gives our users new marketing capabilities to attract new assets and communicate with clients regularly.
Here, in his own words, is the story of Trey Byrnes, CPA-turned-wealth manager and the founder of Inverness Financial Group of Newburyport, Mass. Since late 2008, Byrnes has been sending contacts a branded newsletter created by Advisor Products, and he shares his experience of those five years. Keep in mind, he’s not yet benefited from the Constant Contact integration.
I go to my website and sign a couple of people up for my email newsletter every month – referral sources and prospects. About 10 of the approximately 140 people I signed up to receive the newsletter over the last five years became clients. Many are people I barely know. This is the best marketing tool I have ever used.
This quarter, someone became a client who I met five years ago and added to the email newsletter list way back then. It’s a $1 million client if it all works out over the next few months. She sold a piece of real estate in early June. She had been receiving my email newsletter every Friday afternoon since I added her to the subscriber list five years ago. She called me two weeks before the closing, scheduled an appointment, and signed up as an advisory client shortly thereafter. I never had a single conversation with her in that five-year period other than sending her the weekly email. She lives in another state.
Earlier this year, a local prospect signed up for the newsletter. After receiving the newsletter for about three months, he called and set up an appointment. At our first meeting, he decided to become an advisory client and transferred $400,000 in assets. He also mentioned the effectiveness of our newsletter.
How do I explain the success of this email newsletter? It’s just a touch, a weekly touch on Fridays. But people love it. To the best of my knowledge, fewer than 15 people unsubscribed in five years — and most of those were people changing their email addresses. That’s unheard of! Everyone gets so many emails every day, but people love the market recap grid at the top of the email, the weekly news coverage and concise presentation.
Clients don’t realize the email newsletter is automated. So I get emails asking me why I am at the office late on a Friday night. It’s an amazing tool to remind people I am here. It has also proven to be a very easy way for subscribers to make a referral by simply forwarding the newsletter to a friend or colleague that might be interested in my services.
It will be interesting with constant contact because I will be able to see which articles each person reads.
I’ve hired consultants for marketing, and I’ve done mailings, and I even led a series of webinars a few years ago, but nothing I’ve ever done has been as effective as the Advisor Products weekly email newsletter.
Advisor Products is so far ahead of everyone else in the space. I was with AdvisorsSquare before API and was disappointed. While my BD at the time was promoting other vendors, I switched to API anyway. It is more expensive, but for me it has been worth every penny. After comparing products over the years, I feel API is a in whole different league than its competition.