Do Sites Matching Prospects With Financial Advisors Work?

Monday, June 06, 2011 07:11
Do Sites Matching Prospects With Financial Advisors Work?

Tags: marketing | prospecting | Search Engines

Over the past decade a bevy of prospecting matching sites have arisen. Do they work?

This Website Is For Financial Professionals Only


I just came across another one of theese investor/advisor matching websites. This one seems more oriented toward insurance sales.


I have long been skeptical about the efficacy of these sites.


I don't think clients will use them because they don't trust the information.


Paladin Registry was making an effort to have membership requirements for getting listed in its directory. That seems to be a step in the right direction. But I have not heard about how effective this has been.


The FPA has such a directory and so does NAPFA. The NAPFA referral system used to bring in valuable leads and many advisors built businesses on this. But I have heard that its leads are not as good as they used to be. And I don't think I ever heard of an advisor say he or she built a relatoinship from the FPA's directory.


Any thoughts from A4A members? Are investor mathcing services good for advisors?



Comments (3)

Good? Maybe. Worth the expense? I don't think so. We've received referrals more from NAPFA than other servies, even paid. The paid sites charge too much, making them a poor ROI. The sites are a good resource, just poor ROI. The best strategy is to focus on creating a great web site because most people just search for an advisor in their hometown right from a search engine.
cfp4lf , June 06, 2011
I agree, the website is important. FPA's directory is worthless. Paladin works for me. Is it a fabulous gold mine? No. But it does produce more than enough quality leads for me to make it worthwhile. The other paid sites I've tried on occasion, such as wiseradviser, are worthless. Anyone looking to build their business from these sites better think again. They are at best an adjunct to all your other marketing methods. I've never had any luck with mailings or seminars either. Referrals and personal observation are still best.
vguettlein , June 06, 2011
I did not have a good experience with Paladin or with others; the few people that came through were tire kickers. My best referral sources are my clients and NAPFA. There is NO site that can guarantee that the advisors are more competent than other advisors; that kind of feedback comes from other clients' experience with an advisor.
Patricia , June 13, 2011

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