Financial Institutions: Your audience needs you now.

Since being plunged into the pandemic we have all been trying to successfully navigate through these indeterminate and unpredictable times. These feelings of uncertainty have been felt across the board, one area, in particular, is in personal finance.

Research from Columbia Threadneedle published in FT Adviser reported that 57% of investors were concerned about the long-term impact of the crisis on their investments and 46% were worried about their retirement income. These figures clearly illustrate the feeling of unease people have regarding their personal finance, subsequently leading to them relying heavily on finance intermediaries.   

COVID-19 has uncovered just how valuable the role of a financial intermediary is and the value they provide, particularly in uncertain times. When people have needed reassurance, they have been able to turn to financial intermediaries who have in turn provided them with expert advice and helped them to make informed decisions regarding their finances. The need for this specialist advice is set to persist throughout the pandemic and is likely to continue long after this.

As a result, financial intermediaries are receiving an influx of business as the demand for professional advice continues. Financial Reporter published research from Independent Analyst AKG which states that 52% of advisors believe they will attract more business from existing clients and 48% expect more business from new clients.

At a time when people are actively seeking financial advice, it’s crucial that finance businesses take this opportunity to engage with the intermediary market. Research from FundsNetwork published by Financial Reporter shows that 55% of IFA’s predict an increase in the demand for financial advice.

As the demand for financial advice grows so does the need for intermediaries to be armed with all the relevant information to successfully advise their clients. Financial institutions need to be marketing to this audience. Now is the time for businesses to ensure that intermediaries are aware of what their business has to offer and the benefit using them could bring to their clients.

Although we are still in relatively uncertain times it has been proven that sustained company growth correlates with sustained advertising spend strategy, this includes periods of downturn. So, although we are still navigating our way through this pandemic, finance businesses should continue to market themselves to financial intermediaries for continued growth.

If you need support reaching your financial audience, feel free to get in touch.