How financial professionals can leverage increasing demand for their services

March 20, 2024

Three professionals in a discussion

The skies are looking bright in the finance world. For financial professionals, the U.S. Bureau of Labor Statistics anticipates 13% employment growth between 2022 and 2032 — a figure that’s significantly faster than the average for all occupations.1 

The bureau also indicates that this growth is likely from the aging population and the prevalence of individual retirement accounts largely replacing traditional pensions.1

As a financial professional, your services are going to be needed for quite some time. How can you meet the demand and stand out from the crowd?

Make yourself irreplaceable

Staying home to work, for Zoom appointments, and to have dinner delivered — all these self-services have become the new normal. Could people also be looking to artificial intelligence (AI) or algorithms for financial advice instead of a fellow human being?

The reality is yes, many people will search for more automated ways to help with their investments. That’s why it’s important to offer something that people can’t get from technology.

Relate to your clients and prospects on a personal level. A computer doesn’t know the emotional toll of working two jobs to help pay for a child’s college education. A software program doesn’t know the background of why someone is nervous about investing in the stock market. But you can hear these stories and have these complex discussions to learn people’s unique perspectives and give them the individual guidance they need.

Embrace technology without overreliance

Standing above the fray and offering people something they can’t get from technology doesn’t mean you have to shun advances. In fact, a lot of new tech provides ways to take care of mundane tasks while giving you time to dedicate to more thoughtful and rewarding work.

One of the most important technologies for keeping your business book organized is customer relationship management (CRM) software. This keeps your client information in order and, just as the name suggests, makes it easier to keep track of the relationships you have with them.

Other technologies you can use for better operational efficiency include:

  • Risk tolerance programs
  • Financial planning software
  • Scheduling applications
  • Retirement calculators
  • Video conferencing applications

While these are useful for helping you provide exceptional service, they shouldn’t be used to replace your service. Your knowledge, experience, sincerity, wisdom and personability remain essential. 

Adapt to change

The old cliché is true: Change is the only constant. One of the most important lessons of the last few years is that everything can change in an instant. You must be ready for almost anything.

Prepare yourself for industrial, economical or world shifts. First, it’s important to have a flexible attitude and approach. Enter the ring ready to roll with the punches. Next, keep your finger on the pulse of the financial industry. Attend webinars and conferences. Read the latest news from financial and market publications. Don’t necessarily chase trends, but at least be aware of them.

This goes for your client interactions, too. Maybe you and a client worked out a stable budget for the next year, but since your last appointment, they’ve encountered a significant medical cost that’s thrown a wrench into the plan. Be ready with ways you can help them adjust their planning to account for this and any other change that might come their way.

Hone your marketing strategy

The key to growing your business is bringing value to the right people, and the key to getting your message of value to the right people is understanding who they are and where to find them.

Who’s most in need of your services? What drives them? What worries them? Are there certain demographics that best match your specific expertise? What are their financial goals? Find your niche and a few key reasons that are motivating people to seek financial help, and make it known that you have the answers.

For starters, have a visible presence online. Aside from asking friends or family for recommendations, people are likely going to look up financial professionals themselves and see who’s right for them. Just make sure you’re following all regulations as well as your own firm’s protocols with social media interactions and marketing.

We mentioned attending webinars and conferences, but webinars are also something you can consider presenting yourself. An inexpensive or free high-level educational webinar might be a convenient way for potential clients to learn more about not only what you do but what they actually need.

Examine your current marketing strategy and see what’s working and what needs changing. Establish benchmarks for success. Set realistic metrics and goals, but allow for plenty of room to adjust on the fly.

Additional resources

We encourage you to bookmark our Resources page and learn the tools we have available to help you grow your business and improve your performance.


1 U.S. Bureau of Labor Statistics. Occupational Outlook Handbook - Personal Financial Advisors. 2023, September 6