Advice firms’ growth is being hindered by tight marketing budgets and reliance on “outdated” tactics, new research has found.
The research by adviser directory Unbiased found that 44% of advisers said limited budgets are their biggest marketing challenge today, while 12% said they still rely on old-fashioned techniques like newspaper adverts and direct mail.
Meanwhile, 28% of advisers said they struggle to generate enough client leads. Almost a third (31%) said they rely on client referrals to attract new business.
|
Responses |
Percentage |
|
Limited marketing budget |
44% |
|
Generating enough leads |
28% |
|
Optimising return on investment (ROI) |
16% |
|
Keeping up with the impact of AI on marketing |
5% |
Source: Unbiased
Matt Cockayne, Chief Revenue Officer at Unbiased, said: “Financial advice firms face growing pressure to scale while keeping costs down. Traditional methods like referrals can help, but they often lack the consistency and reach needed today.
“Many firms are stuck in a cycle of tight budgets, low lead volume, and missed opportunities.”
