Advisor Marketing Made Simple: Episode Summary

Title: Top Advisor Website Questions (Part 1): Should You Share Your Fees & More
Release Date: March 12, 2025
Hosts: Taylor Schulte and Kendra Wright

Introduction

In this insightful first part of their two-part series on advisor website questions, hosts Taylor Schulte and Kendra Wright delve into two pivotal topics: deciding when to redesign your website and determining whether to display your pricing or fees online. Aimed at financial advisors seeking effective marketing strategies, this episode provides practical advice to enhance website performance, attract qualified leads, and ultimately grow your advisory business.

1. When Is It Time to Redesign Your Website?

Understanding the Need for Redesign

Kendra opens the discussion by addressing a common frustration among advisors: investing time and money into a website that doesn't generate leads. Citing a 2024 Broadridge marketing study, she highlights that while websites are the most popular marketing investment among advisors, 62% report that their sites fail to generate leads (00:00).

Taylor's Perspective: Beyond Lead Generation

Taylor challenges the notion that a website's sole purpose is lead generation. He posits, “Your website does not have to generate leads” (01:21), suggesting that for some advisors, a website can function merely as an informational brochure. He emphasizes the importance of defining the website’s primary goal—whether it's to showcase services, provide resources, or generate leads.

Kendra’s Approach: Refresh Over Redesign

Kendra advocates for minimalistic changes rather than complete overhauls. She states, “I believe that it is rarely a good time for a complete full redesign, but it's often a great time to refresh or improve the website” (06:48). Her criteria for considering a redesign include significant niche changes, transitioning from a templated website to a custom one, or if the existing site is outdated and difficult to update.

Templated vs. Customized Websites

The hosts discuss the limitations of templated websites, which may suit new advisors but often restrict future customization. Taylor likens templated websites to robo-managed investment portfolios—suitable for many but not all (08:34). He shares his personal experience of using a templated website initially, acknowledging its cost-effectiveness but recognizing the need for more flexibility as his business grew.

Avoiding Common Pitfalls

Kendra warns against using website redesigns as a means to sidestep underlying marketing issues, such as unclear target audiences or insufficient traffic. She highlights the importance of first defining the ideal client avatar and addressing traffic generation before considering a redesign (09:17).

Quotes:

• Kendra: “Your website doesn’t have to generate leads. It could be a brochure, just sharing more about who you are and what you do.” (00:00)
• Taylor: “So your website does not have to generate leads. But today we're going to talk about some of the biggest website questions that we get from advisors.” (01:21)

2. Should You Include Pricing or Fees on Your Site?

Initial Hesitations: Avoiding Scare Tactics

Taylor recounts his early strategy of withholding fee information to avoid deterring potential clients who might not understand the value of financial planning. He explains, “I just wasn't convinced that consumers were educated enough to say, yeah, you know what, $15,000 minimum sounds about right” (18:02). This approach aimed to encourage conversations where he could demonstrate value before discussing fees.

Evolving Strategy: Filtering Qualified Leads

As Taylor’s business grew, the volume of leads increased, leading to inefficiencies in handling unqualified prospects. To streamline the process, he began displaying fees upfront, which significantly reduced the number of introductory calls but increased the quality of leads: “...we determined that adding more friction to the process, putting our fees front and center on our website... has now kind of gotten us down to closer to 50 to 60 introductory phone calls per year” (18:02).

Balancing Transparency and Lead Quality

Taylor underscores the importance of filtering leads based on their ability to pay, suggesting that fees should align with the advisor’s target demographic. He provides examples of alternative ways to display fees, such as linking them to client income or assets: “...we help tech professionals making over half a million dollars lower their tax bill and make work optional” (24:37).

Kendra’s Insights: Clear vs. Quiet Routes

Kendra introduces the concepts of the “clear route” and the “quiet route” for displaying fees:

• Clear Route: Directly listing fees, possibly on a standalone page like “Our Fees” or integrating them into broader content sections, which can increase transparency and attract the right clientele.
• Quiet Route: Subtly incorporating fee information within other pages, such as the process or services page, which can capture qualified leads without prominently highlighting costs.

She notes, “If you’re ready to be more bold about it... posting a standalone fees page can be very effective” (29:50).

Best Practices for Fee Transparency

Taylor and Kendra emphasize the importance of aligning fee structures with the advisor’s value proposition. Advisors competing on fees should highlight their affordability, while those offering premium services should focus on the value and comprehensive support they provide. The use of comparison tables can effectively illustrate the benefits relative to competitors, helping clients make informed decisions.

Quotes:

• Taylor: “A bad user experience is worse, I think than a poorly designed site.” (04:21)
• Taylor: “...your website should help filter people based on their ability to pay your fee.” (18:02)
• Kendra: “Great copy can save bad design. But great design will not save bad copy.” (16:42)

3. Common Questions and Scenarios

Defining the Ideal Client

Both hosts stress the necessity of understanding and defining the ideal client persona. Tailoring website content and fee structures to attract the right demographic ensures more efficient lead generation and higher conversion rates.

Filtering Leads Efficiently

Taylor shares his experience of modifying the call scheduling process to include fee acknowledgment, which effectively filters out unqualified leads: “... adding a box to check to ensure that they've seen our fees and understand what they are” (18:02). This strategy ensures that only serious prospects proceed to the introductory call.

Practical Examples

Kendra provides a real-world example from a client who previously handled 167 calls a year but streamlined the process by incorporating fee filters, resulting in a more manageable and productive advisor schedule: “... changing their call booking process to be similar to what you mentioned... and it's been remarkable” (28:24).

Tailoring Fee Presentation

Advisors can present fees in ways that reflect their unique value propositions. For instance, those competing on lower fees should highlight affordability, while those offering extensive services should emphasize the comprehensive value provided, as Taylor suggests: “...if you are competing on fees, it should be front and center blasted all over your website” (31:01).

4. Best Practices for Website Optimization

Prioritizing Copy Over Design

Taylor and Kendra agree that compelling copy is more crucial than aesthetically pleasing design. Taylor shares an example where excellent content outweighed a dated design, emphasizing user journey and clear communication of services: “...the content and the copy and the user journey that they created was phenomenal” (15:42).

Continuous Improvement

Both hosts advocate for viewing website management as an ongoing process rather than a one-time project. Regular updates and incremental improvements can sustain website effectiveness and adapt to changing business needs: “It should be a fluid, ongoing process... making updates to bring it up to speed” (14:05).

Collaboration with Designers

Kendra highlights the importance of collaborating with designers who can also assist with copywriting to ensure that both design and content are optimized for conversion: “...if you do choose to look at, you know, maybe refreshing or rebuilding your website, you need to be really clear when you talk to a designer, are you also gonna help write the copy?” (16:42).

Utilizing Design Elements Strategically

Kendra suggests leveraging design elements like footers to identify and connect with quality design partners: “...check out the footer because there's a lot of design agencies that will say, hey, design by, you know, xyz” (14:05).

Conclusion

In this episode of "Advisor Marketing Made Simple," Taylor Schulte and Kendra Wright provide financial advisors with actionable insights into optimizing their websites for better lead generation and client qualification. By thoughtfully considering when to redesign, how to present fees, and the critical role of compelling copy, advisors can enhance their online presence, attract high-quality leads, and ultimately grow their practices more effectively.

For more resources and to join future episodes, listeners are encouraged to check the show notes provided by the hosts.

Notable Quotes with Timestamps:

• Kendra [00:00]: “Your website doesn’t have to generate leads. It could be a brochure, just sharing more about who you are and what you do.”
• Taylor [01:21]: “Your website does not have to generate leads. But today we're going to talk about some of the biggest website questions that we get from advisors.”
• Taylor [04:21]: “A bad user experience is worse, I think than a poorly designed site.”
• Taylor [18:02]: “We determined that adding more friction to the process, putting our fees front and center on our website... has now kind of gotten us down to closer to 50 to 60 introductory phone calls per year.”
• Kendra [16:42]: “Great copy can save bad design. But great design will not save bad copy.”
• Taylor [31:01]: “If you are competing on fees, it should be front and center blasted all over your website.”

Note: Time stamps refer to the position in the provided transcript.