PR tips for financial advisors: How to secure earned media coverage 

Key takeaways:

• Earned media is a powerful way for advisors to elevate their brands and grow their businesses.
• When undertaking a PR effort, be sure to craft messaging to reflect the types of clients served and what makes a practice different from other advisors.
• Media welcome insights from CFP and advisors.  Consider media training to make the most of interview opportunities.

“Can you get me on CNBC?”  

We get this question from many advisors and financial experts who want to get on TV despite the fact that most advisors can’t or won’t talk about the public company stocks that are the subject of financial TV news.

We’ve also heard many variations of the question, “How can I get my local paper to quote me?”

Savvy advisors realize that earned media attention is a cost–effective way to build their personal brand. And in our experience, reporters covering personal finance generally like to quote smart financial advisors who can help them navigate topics such as saving for retirement, tax planning or saving for college.

If you are thinking about PR to grow your practice, here are a few pointers geared to CFPs and advisors:

Media pointers for financial advisors   

Understand your niche and build your message. Many advisors build a practice serving like audiences – pre-retirement professionals, divorced women, former military professionals, etc. If you’ve built a particular expertise, build your brand messaging to demonstrate your specialty. Create a message triangle that describes what makes you different as an advisor and keep your key messages in mind when doing interviews. Once you are known as an expert, it can help generate media and or speaking opportunities.

Hang your hat on the news. Being available and connected to the news cycle is the quickest way to get quoted in the media. Have a timely quote about the gyrations of shares of a well-followed local company? Understand the personal finance implication of a recently passed tax law?  Raise your hand! There is no better way to get quoted than to be available as an expert on breaking news.

Walk a mile in a reporter’s shoes. If there is a publication you hope to be mentioned in, follow it closely and become familiar with the topics the reporters cover—and don’t cover. If you are trying to get in front of local media, show up at your local business publication’s networking event. This can be a great opportunity to exchange cards with the reporter covering the finance beat.  Increasingly, reporters looking for sources post on social media. Follow selected reporters, engage with their posts, and follow up should you have something to say.

Become a thought leader. Many advisors want to become “thought leaders,” but few understand how to write the prose that will garner interest from the media. Thoughtful content is a very effective way to get your name into the media – especially into specialty and trade publications that are hungry for articles targeting their niche readers. Effective thought leadership stands out by offering a viewpoint that hasn’t been widely shared. Position yourself as an expert on an area you know well – sustainable investing in 401(k) plans or helping business owners prepare for ownership transition. Keep your audience in mind and write articles that are educational, not promotional. What it shouldn’t be is an advertisement for your business.

Get engaged. Many advisors build a local practice serving people in their community and, due to referrals, end up with a practice focused on a certain type of client – pilots, dentists, physicians, etc. Target media serving that niche to share insights or story ideas from your experience serving this group.

Up your game. Since the pandemic, more people can be guests on financial news programs from the comfort of their home offices and Zoom connections. While this is good news, the downside is that some are immortalized onscreen looking everywhere but at the camera. Invest in good lighting and think ahead about your background.

Get training. If you haven’t had media training, take the time to learn how to be more effective doing both remote and in-person interviews. You’ll learn how to prepare for interviews and craft and deliver a concise message. It can also help you prepare for broadcast interviews so you can feel more comfortable and understand how to sit and where to look when you are in front of the camera. You’ll also learn how to work your messages into your answers and how to navigate difficult questions.

Use your designation . CFPs, CPAs and CFAs often have an edge getting into media given their designations.  The associations representing their designation have journals that rely on the smart people holding the relevant designations. And if you happen to have both a CFP and CPA, you have instant credibility on any topic related to tax or business planning.

Don’t forget old–school tactics . Receive an award? Growing your team of advisors? Land a coveted spot as a speaker at an industry event? Write a news release to post to your website and share on social media. Email a copy to your local financial reporter. Some may cover the news. Others may save the news release and reach out at a later date when they are looking for local sources. We also encourage our clients to use low cost paid news release services to elevate selected news and drive further attention across the web, as these results may turn up when people are conducting searches about you or your firm.

Stay compliant. Check in to make sure you understand your firm’s policy on talking with the media.  As with any potential promotional activities, there are FINRA and SEC rules related to your public comments. You don’t want to inadvertently run afoul of the rules.

Don’t let it be one and done. In today’s multifaceted media landscape, any media coverage you earn is fleeting. While the number of people who read the article in which you are quoted may be small, that media coverage is just the opening volley. When you are quoted in the media, be sure to post the coverage to the news section of your website. Have your company share it on its social media platforms and be sure to share it on your own. Include a link in client communications or your quarterly e-newsletter.

Hire a PR partner. There are a few PR firms like ours that work with financial advisors, understand the landscape and have long standing relationships with reporters who write about personal finance, retirement planning, taxes or investments. We know the financial news media and understand what makes a good story.

To learn more about our media relations services, send us a note.