Written by Marcus Roth, Senior Director of Email Marketing, Automation, and Content at Simplicity Lone Beacon.
In today’s competitive financial advisory landscape, it is crucial to stand out by building meaningful connections with potential clients. One powerful method is leveraging the StoryBrand framework by Donald Miller. The core philosophy is simple yet profound: consumers do not merely buy products or services; they seek transformations. The advisor who conveys that transformation for their prospects and clients in the clearest, most impactful way in the form of a story is most likely to win the prospect’s business. Financial advisors who effectively tell the story of how their services will change their clients’ lives will build deeper connections and drive better results.
Understanding the StoryBrand Framework
At the heart of the StoryBrand framework is the belief that every great story follows a specific structure. The customer is the hero, and the advisor serves as the guide who helps them navigate their challenges. By positioning your client as the protagonist and your advisory firm as the wise mentor, you tap into a narrative that resonates with their core desires.
The StoryBrand framework can be broken down into seven steps:
- A Character (The Customer)
- The main character in this story is not you–not the advisor. It’s your prospects and clients. People think of themselves as the main characters in their journeys. Until you meet them there, you won’t be able to connect with them effectively. For financial advisors, the ideal prospect or client (“character”) is typically a high-income earner or retiree, aged 45 and above, seeking personalized guidance on wealth management, retirement planning, and investment strategies. They are often professionals or business owners with significant assets who value long-term financial security and personalized advice.
- Has a Problem
- Every client starts as a hero facing a challenge. For financial advisors, this could be clients worried about their retirement savings or navigating complex tax strategies. Reflecting your understanding of this problem back to prospects and clients is step one. It tells them you know what they’re concerned about on a comprehensive, even personal level. This is how you open the door for you and eventually your solutions.
- Meets a Guide (The Advisor)
- The financial advisor becomes the guide in this story, offering expertise and reassurance. Clients don’t want another hero; they need someone to help them achieve their goals. That’s you. You help them overcome challenges and achieve success. This means your messaging is not telling how great your firm is, but how your firm helps people like them, first and foremost.
- Who Gives Them a Plan
- The guide, which is you and your firm, provides a clear plan. This might include a comprehensive financial strategy or specific advice that solves the client’s pressing concerns you’ve demonstrated that you understand intimately. But the key here is not to overwhelm clients with too many options and details. At first contact, boil your comprehensive plan down to a phrase or key steps that focus on the benefit it provides. The details come later because the truth is that the confused mind says “no.”
- And Calls Them to Action
- Now, and no sooner or later you must call those heroes–your prospects or clients–to action. A clear call to action is essential. This could include encouraging clients to schedule a consultation or take the next step in their financial planning journey. Remember, your not selling kitchen knives, your selling your guidance with their life savings–that’s a huge decision. As such, it will take many steps and a lot of time to get them to make a decision to work with your firm. So, allow for that. Instead of asking all your prospects to become your client at each stage, give new prospects the option to learn more or attend an event. Then, once they’re in your system, you prompt them to schedule a meeting. They key is to encourage them along the journey to becoming your client.
- That Ends in Success
- Now, you need to paint the picture of what success truly feels like for them in their lives. Clients need to visualize success and envision a transformed life with your solutions. For example, with the financial security you offer, they can explore hobbies and passions they’ve always wanted, become the person they never had time to become, relax and connect with their family, the list goes on. But the common thread here is that these examples showcase the transformed life of the prospect or client.
- That Helps Them Avoid Failure
- The other picture you must paint is what it means for prospect’s lives if they don’t receive the benefits of your service–if they fail. The fear of failure is a powerful motivator. Highlighting the risks of not taking action with you—such as outliving retirement savings, stressing and struggling through retirement with no time and peace of mind to live the life they worked so hard to save for—can prompt clients to seek your guidance.
By following this framework, financial advisors can craft a compelling narrative that not only engages clients but also positions their services as the transformative solution clients are searching for.
Focus on Internal Problems
A key insight from StoryBrand is that customers are not just looking for solutions to external problems; they are more concerned with their internal struggles. For example, a retiree might be afraid of running out of money, but their deeper worry might be losing control of their financial future. Financial advisors must identify and address these internal fears to create stronger emotional connections.
Establishing Trust as the Guide
Establishing trust is paramount in financial services. Clients are often overwhelmed by choices, but they want to trust their advisor to make decisions on their behalf. To build trust, advisors can leverage four key elements:
- Testimonials – Sharing success stories from other clients helps to reassure potential clients that they are in capable hands.
- Statistics – Highlighting the success rates or number of clients served offers credibility and authority
- Awards – Industry recognition serves as a third-party validation of the advisor’s expertise.
- Logos – Featuring logos of notable partners or affiliations can further reinforce credibility.
Avoid Information Overload
One mistake many financial advisors make in their marketing is overwhelming prospects with too much detail that is not essential to the prospect’s goal: their own transformation. Potential clients don’t need to know every intricate step of the financial planning process upfront. Instead, they want to know they can trust their advisor to guide them. A useful analogy from the StoryBrand framework is to imagine someone entering a ballroom at a wedding. People don’t start counting every chair or table—they focus on what is useful, like finding friends, the bride and groom or close exits. Financial advisors should focus their marketing on the transformation they provide, not the intricate details of the process.
Conclusion
Incorporating the StoryBrand framework into financial advisor marketing allows for a clearer, more engaging narrative that resonates with clients on an emotional level. By positioning themselves as trusted guides who offer transformation, rather than just products or services, financial advisors can build stronger relationships and achieve better outcomes. Ultimately, the success of this approach lies in understanding that clients want more than financial advice—they want someone who will help them achieve their dreams and avoid pitfalls along the way.
About the Author: Marcus Roth is Simplicity Lone Beacon’s Senior Director of Email, Data, Automation & Content. Marcus has a unique experience in B2B and B2C start-up companies ranging from enterprise-level market research of Artificial Intelligence to self-defense eCommerce products. His experience in AI market research brought him, and his research, to INTERPOL, The United Nations, and Harvard University.
