Targeting Wealth Advisors and Insurance Producers with Facebook Ads and AdvizorPro

Email campaigns, conferences and Google Ads are a few of the marketing tools you can use to get your message out to your target market. Facebook Custom Audiences are another less common tool used by many of our clients to effectively reach wealth advisors and insurance producers. 

Combining AdvizorPro’s database with the Facebook Custom Audience advertising tools built into Meta is an effective marketing strategy for those looking to market to wealth advisors and insurance producers with precision. Meta’s custom and lookalike audiences are some of the most powerful advertising mediums available. 

What are Facebook Custom Audiences and Lookalike Audiences?

A Facebook Custom Audience reaches a specific group of people who have already interacted with the brand and who are loaded into the platform. A lookalike audience is a way your ads can reach new people who are likely to be interested in your business because they share similar characteristics to your existing customers. It is curated by identifying similar users to those in the custom audience lists through Meta’s advanced algorithms. While these audiences are not as targeted as a custom audience, the lookalike audiences allow for scale when trying to reach a broader target audience.

Combining these with AdvizorPro’s database of wealth advisors and insurance producers can allow groups like asset managers, tech platforms, and recruiters to create hyper-targeted lists of financial professionals and start an outreach program to create leads and develop powerful nurturing programs to stay top of mind with warm prospects.

How Does it work?

AdvizorPro’s tools allow users to easily pull prospect information such as email, location, industry, or interests for financial and insurance professionals. Let’s say for instance an asset management company would like a list of financial advisors in the Scottsdale, Arizona metropolitan area with a CFP® designation. AdvizorPro will automatically generate this list, giving a concise and targeted prospect list. These prospects can then be loaded into Meta’s custom audiences to develop a targeted ad campaign. Meta will then serve ads to these prospects on their Facebook and Instagram accounts, increasing visibility and connection to the brand.

Facebook’s custom audience advertising campaigns give the user the ability to reach the precise targeted audience based on their email address. By utilizing AdvizorPro’s database, users can curate highly refined lists of prospects, like the Scottsdale, Arizona CFP® list. Those lists can then be integrated into Meta’s Custom Audience feature. Think of it as blending the ingredients for a perfect marketing mix, creating an incredible ability to  advertise directly to the financial professionals who could benefit from working with your company. 

Of course, Meta has specific policies and guidelines related to privacy, and staying compliant to them is important. The rules are laid out here, but generally, it requires allowing people to opt-out of the custom audience list.

What to Expect

Let’s bring it back to the asset management company targeting financial advisors with a CFP® in the Scottsdale, Arizona metropolitan area. This company (let’s call them XY Assets) wants to make financial advisors aware of a new investment product offering which is best suited for retail investors. To do this, they’ve decided to host a networking event in Scottsdale. 

XY Assets first pulls a list from AdvizorPro of financial advisors in the metropolitan of Scottsdale, Arizona with a CFP® designation. Their team goes through the list of roughly 400 professionals who fit this search to find those they have personal relationships with to invite to this event. In addition to this, XY Assets loads the list they originally pulled from AdvizorPro into their Meta Ads Manager to create a custom audience. They then build out an advertising campaign to promote this event which includes the details for the time and location. 

By serving the ads directly to the highly targeted prospects who work near the event, not only are they more likely to increase the number of attendees to their event, they’re also more likely to bring awareness to their product and company beyond the single event. 

Putting It Into Practice

To learn more about putting these simple tools into place you can reach Facebook’s tutorial on how to create a custom audience here and a lookalike audience here

Facebook’s custom audience and lookalike audiences, in combination with AdvizorPro’s RIA database, is a remarkable marketing tool for pulling highly targeted prospect lists, communicating with those audiences, and then finding them where they are. This transforms marketing campaigns into specialized, potent outreach programs that are backed by Meta’s powerful technology.