Greentarget

Greentarget

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Your high net worth clients can take their assets anywhere at any time. To attract and retain their business, your firm needs to be positioned to win. 

As an executive in this highly competitive and fragmented landscape, you know there are four essential ingredients to attract registered investment advisors (RIAs) and their clients to your platform:

  • Access to investment alternatives that will yield higher returns
  • High-touch client service 
  • Banking services to complement wealth management services
  • Attention from a broader team who can take over the book of business if and when the lead RIA leaves or retires

But since excellent service and performance are mere table stakes, these four elements might not be enough to achieve and maintain a winning standard. Your wealth managers must offer a fifth fundamental ingredient: authority.

Greentarget is a PR firm serving clients in a variety of professional services industries. As such, we regularly talk to wealth managers about the challenges they’re facing. Here’s a look at what we’ve heard from them — and why we think carving out unique positions of authority is key to transforming your industry challenges into growth opportunities.

Challenge 1: Investor Demographics Are Shifting 

Now more than ever, wealth managers play a personal role in their clients’ lives. As people live longer, face the effects of long-term inflation on their assets’ purchasing power, and experience increasingly fragmented family lives, it’s common for RIAs to become confidantes and friends to the clients they serve. 

In light of this, wealth managers also have the opportunity to become trusted authorities on the issues that matter most to their changing clientele. 

What do we mean by the word authority? As we explain in our Manifesto, authority is different from thought leadership. Whereas thought leaders share ideas, authorities know. They draw on their distinct perspective and proven experience — and then deliver clear, succinct insights that are supported by fact, narrative, and cutting-edge data. 

How could your wealth managers become true authorities who are not just heard, but also heeded and implicitly trusted by clients? Here are a few examples of ways your RIAs could make their mark:

  • Put resources in place to support older women and protect them from manipulation and abuse.
  • Help clients of all ages plan for their post-retirement lives, including navigating the nuances of moving to a continuing care retirement community or otherwise making provisions for future long-term care.
  • Offer business succession planning for family-owned businesses to transfer ownership from one generation to another.
  • Create an avenue to serve HENRYs (high earners, not rich yet) and help them grow their wealth from the ground up.

The world is changing fast. Women in particular are an underserved demographic who need advice specific to their circumstances. And if your firm is not taking steps to carve out unique points of view on the issues that matter to your changing clientele, someone else will. 

Challenge 2: Emerging Technologies Like ChatGPT Threaten Disruption

At first glance, the rise of emerging technologies — especially generative AI — presents a formidable challenge to the wealth management industry. But while it’s true that AI-powered tools like ChatGPT can develop a diversified portfolio in seconds, many clients are reluctant to rely solely on AI-generated recommendations. 

This isn’t surprising when you consider the demographic shifts we’ve discussed already. Clients — especially older audiences — don’t want to be served by an algorithm. They want a personalized touch that only humans can provide, particularly when it comes to managing their wealth. So as AI continues to evolve, wealth managers must strike a delicate balance between automation and personalized service to meet sky-high expectations while remaining efficient and competitive.

In addition to ChatGPT, the proliferation of robo advisors and the digitization of assets further complicates the wealth management landscape. Robo advisors offer a low-cost alternative to traditional wealth management, making it more challenging for human advisors to compete. The digitization of assets, on the other hand, introduces complexities related to security, compliance, and data management. Wealth managers must adapt to these digital advancements by incorporating them into their service offerings, all while ensuring that clients’ assets remain safe and that their financial goals are met.

So how can your wealth managers stay ahead of the technology-related curve? Again, they must become authorities on these issues and solidify a unique point of view that differentiates them from all the other voices clamoring for attention. 

A forward-looking, creative POV on emerging technology and its role in asset management can drive interest and goodwill among current and potential clients.

Challenge 3: Economic and Security Concerns Have Investors on High Alert

As you well know, investors continue to be highly concerned about their assets as a result of the extended period of economic uncertainty we’re all experiencing. Even so, this macro-level financial insecurity and banking industry turmoil comes with an opportunity. 

While big-name brands like Wells Fargo and FTX continue to suffer from the far-flung ramifications of serious reputational crises, your financial services firm has the chance to build a highly respected and trusted reputation. 

To build your growing firm’s brand, your wealth managers must demonstrate:

  • Integrity. Can clients trust that your firm will do the right thing at all times?
  • Stability. Especially in the midst of industry consolidation through mergers and acquisitions, do your clients know your firm is stable? 
  • Security. In an age of cybersecurity attacks, phishing schemes, and scams galore, is your asset custody platform strong and impenetrable? 
  • High-touch service. Since big-name wealth management firms struggle to offer proactive, intentional communication, are there ways you can position your firm to stand out by offering ultra-personalized, excellent service?

You may not be able to build the kind of solid, unimpeachable brand reputation JP Morgan enjoys overnight. But with time and intentional, proven PR strategies, you can create a name for your firm that becomes synonymous with integrity and excellence.  

Invest in PR to Position Your Wealth Management Firm for Success 

Trust is the currency on which your firm is built. So when it comes to staying ahead of the competition in an industry like yours, positioning your wealth managers as trusted authorities becomes its own kind of ROI.

But in your fast-moving industry, it can already feel challenging to keep up with the daily demands of managing the assets of high-net-worth clients. Establishing and articulating unique positions of authority via owned media and earned media channels is unlikely to rise to the top of your wealth managers’ priority lists — unless they have expert help. 


That’s where Greentarget comes in. We’ve worked with hundreds of professional services firms to build their brand, hone authoritative positions, and overcome their particular industry challenges. We’d love to help you, too. So let’s talk.

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As industry leaders and senior professionals look for sophisticated guidance on influential and complex topics, they are increasingly turning to podcasts as a quick way to absorb timely information. In fact, 43% of U.S. decision-makers regularly listen to podcasts for business-related news and thought leadership. Yet few are leveraging this growing medium to reach them.

Only a third of B2B content marketers have used podcasts within the last year, for example. And, according to Greentarget’s 2022 State of Digital & Content Marketing Report, C-Suite executives and in-house counsel rank podcasts at the bottom of the content they prefer to consume, indicating a significant lack of elevated and engaging content.

This should be a wake-up call for professional service firm marketers, especially as the influence of podcasts can often be stronger than other media channels. According to the Pew Research Center, 36% of podcast listeners have tried a lifestyle change because of a podcast they listened to, and more than half have followed the social media account of a podcast or its host. At Greentarget we’ve seen this firsthand, spearheading podcast campaigns that have reached thousands of executives and sparked impressive engagement across LinkedIn and Twitter.

As the number of podcast listeners grows, it’s critical that professional service organizations seize the opportunity. When used in tandem with a solid digital media strategy, podcasts can spur conversations between key decision-makers, drive up the number of visitors to companies’ owned channels, and generate new business development.

Below, we outline a few benefits—and how marketers can achieve them.

Drive Organic Traffic to Owned Media Channels

To some extent, podcasts are self-selecting. By choosing to play your podcast, listeners have already raised their hands to say that your content’s subject matter is what they are interested in. It should come as no surprise then that 80% percent of people who start a podcast listen to most or all of the episode.

That increased focus gives professional service organizations the opportunity to steer listeners to other relevant owned content on their website. For instance, Greentarget has been able to craft bylines and owned blog content based on several conversations that podcast hosts have had with their guests.

And because that content is more likely to coincide with their interests, it can be valuable tool in driving newsletter subscriptions, report downloads and organic traffic. Once you have drawn listeners into your marketing pipeline, they are more likely to reach out and enlist your services.

Reach an Audience That Matches Your Target Demographic

Research shows that most podcast listeners are educated, tech-savvy, affluent and diverse, and the medium is known for reaching on-the-go professionals of all ages. While the majority of monthly podcast listeners are between the ages of 12 and 34, 43% of monthly podcast listeners are aged 35-54—an increase from 39% in 2021. These segments of the U.S. population largely align with the demographics of professional services organizations, meaning a podcast has greater potential to reach them over traditional media channels.

What’s more, podcasting is quickly becoming a global medium. Monthly downloads for podcasts around the world ballooned by millions in the first quarter of 2023, and experts anticipate the number of podcast listeners will reach over 500 million by 2024. As reaching a global audience becomes increasingly important for growing professional service organizations that work across borders, podcasting can help overcome the regional limits of traditional news outlets.

Position Authorities as Authentic and Trustworthy

According to the Edelman Trust Barometer, consumers trust business more than any other institution globally. Listeners trust industry leaders who weigh in on important issues. As organizations face increased scrutiny around the credibility of the information they produce, podcasts offer a way to deliver those perspectives in an authentic, believable way. The nature of the medium enables thought leaders to showcase not only their knowledge but their personalities and unique voices.

Generate Networking Opportunities

Authorities also stand to make personal connections with the wide variety of industry experts featured on their show. This can open up better networking opportunities, and in some cases, lead to a beneficial partnership between organizations.

Take our podcast partnership with Berkeley Research Group (BRG) , for instance. Through the firm’s Insights from the Top podcast, host Dr. David Teece was able to build strong relationships with law firm leaders in the U.K. and as far as South Africa. Other podcast hosts at the firm have appeared as guests on podcasts hosted by close acquaintances, and vice versa.  

A Small Investment Can Yield Big Rewards

Creating a podcast takes little in the way of capital investment. Nowadays, a hundred-dollar microphone, earbuds, a quiet room and simple software are enough to produce a high-quality listening experience for your podcast audience. And now that the pandemic has habituated listeners to the audio quality you might expect in a Zoom call, the bar to entry is lower than ever.

Best Podcasting Practices

If you’re convinced that podcasting might work for your professional services organization, here are a few rules of thumb that will guide you on your journey to launching your very own podcast series.

  • Stay the course: Since anyone can throw their hat into the podcasting ring, it can take more than a few one-off episodes to rise above the noise and gain a diverse and dedicated following. This is often why more than three in four podcasters give up on a show within 12 months of launch. So, it’s important that professional service organizations make a long-term commitment to a podcast with the expectation that they are unlikely to garner a substantial following in the first few months. The most influential professional services podcasts out there today—The McKinsey Podcast, Deloitte’s Global Insights, you name it—invested significant time and resources before gaining traction.
  • Integrate podcasting into a holistic communications plan: Podcasts can be repurposed in the creation of other content that can be shared across different platforms, such as infographics, blogs and newsletters. Conversely, podcast episodes can center around insights and findings outlined in other forms of content, e.g., research reports, whitepapers, etc. Professional services firms should use these strategies to extend the shelf-lifeand expand the reachof existing content.
  • Be candid: Podcasts bridge the gap between informal, authentic communication and measured thought leadership. Since a podcast can always be edited after a recording session takes place, authorities and their guests can—and should—speak frankly about today’s most pressing issues. They can rest assured that they will always get the right message across to their audience—even if it’s in the editing room.

There Has Never Been a Better Time to Dive into This Growing Medium

As stakeholders continue to shift from traditional to owned media channels for their information, it’s crucial that professional services firms evolve alongside them. In our hyper-saturated media landscape, people are often bombarded with opinion-based content—from the moment they sit down at their work desks to when they nod off to sleep, phone in hand.

Podcasts offer an unusual respite from this barrage of information. They are played in the car, at the gym, or on an evening walk. And because a listener gets to decide what they listen to, they are more open to the views expressed on a podcast than say, an algorithmically curated TikTok video or an op-ed shared by a colleague on Facebook.

With over three million active podcasts out there and counting, professional service organizations can’t afford to ignore this rising—and very personal—content medium.Greentarget knows how to develop a podcast from front-to-back. Whether it involves pre-episode storyboarding, audio production or digital promotion, we have the tools to position any podcast for success—so let us help you jump into this frequently overlooked medium.

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As Western law firms that spent years growing their footprints in China either exit or retrench, the reason global firm Dentons cited for doing so stands out for its directness.

In a memo to clients, Dentons said it ended its tie-up with Beijing Dacheng Law Offices “in response to an evolving regulatory environment for Chinese law firms in China—including new mandates and requirements relating to data privacy, cybersecurity, capital control and governance.”

As conditions in China become increasingly challenging, how a firm communicates a decision to withdraw need not be left to the last minute – indeed, firms should have plans in place now, especially as the prospect of greater conflict in the region looms. The unlawful Russian invasion of Ukraine and Hamas’ more recent incursions into Israel signal the importance of having risk management and corresponding communications plans in hand before the next geopolitical crisis, which many believe will be Chinese President Xi Jinping’s inevitable attempt to take Taiwan.

The pullback among foreign law firms is the latest evidence that the Chinese government’s heightened focus on national security and related geopolitical tensions is impacting the ability of professional services firms to do business there. The Big Four auditing giants have also shut down legal affiliations with local firms in China, according to Law.com. Meanwhile, Chinese authorities earlier this year probed operations at China offices consulting firms Bain & Company and Mintz Group, and detentions of foreign executives are adding further chill to the business climate.

As one anonymous Dentons partner told The American Lawyer, “It wasn’t really a corrosion of our relationship [with Dacheng]. It’s more that it’s become impossible to serve our clients properly, those that have China links.”

Worsening Economic and Geopolitical Conditions Raise the Communications Stakes

The changes global law firms made to their Chinese platforms in 2023 are part of a longer-term trend. The number of foreign law firm offices in China has been in decline for five consecutive years, falling by 16% to 205 as of the end of 2022, according to Chinese Ministry of Justice data, with U.S.-based firms leading the withdrawal. More firms will likely be queueing up behind Dentons and others heading for the exits as China’s economic downturn deepens, limiting business opportunities while trade tensions slow cross-border investments.

These developments come as heightened tensions between China and Taiwan once again fan speculation around a possible Chinese invasion. Affluent Taiwanese are transferring wealth abroad or shifting money into portable assets. Multinational companies are taking force majeure clauses one step further and inserting provisions into contracts specifically tied to China-Taiwan tensions. Meanwhile, America’s military and political leadership are discussing deterrence and timelines of a possible Chinese invasion amid growing economic and diplomatic pressure.

Coupling these conditions with the increasingly aggressive Chinese regulatory stance toward foreign firms, leaders of professional services organizations must consider the possibility that a conflict in Taiwan could further compromise their business and compel them to communicate their position on Chinese aggression – operationally and philosophically – with clients, employees, regulators, and the public.

Recall the weeks following Russia’s invasion of Ukraine. Hundreds of global companies shut down Russian operations within a few days. Professional services firms were slower to react than other organizations and their responses varied widely—from resigning clients based in Russia to taking no action at all, perhaps reflecting the difficulty of giving up work when it can be done from anywhere. 

Given the difference in the size of the Chinese and Russian economies and levels of foreign direct investment, we would expect even greater difficulty unwinding from China than from Russia despite China’s lackluster economic outlook. The International Monetary Fund last year ranked China the third most prominent destination for foreign direct investment, totaling $3.6 trillion in 2021. (This doesn’t count Hong Kong, which received another $1.9 trillion.) Russia isn’t even in the top 10.

As we saw after the invasion of Ukraine, intensifying Chinese aggression toward Taiwan would likely be followed by swift international condemnation and calls for Western firms to withdraw or to limit activities that could be said to support the regime. Other complications, from head-butting between the Chinese and U.S. militaries to stepped-up regulatory actions against foreign firms operating in China, could elicit similar responses, highlighting the need for firm leaders to be prepared for such eventualities.

In a Volatile World, Organizations Need a Proactive Communications Strategy

It is critical that firms have a clear framework for whether and how to respond to such crises, beyond the compulsory need to communicate regarding local staff who may be in harm’s way.  As a starting point, we recommend the process we developed to help leaders decide whether and how to respond to social and political issues since the murder of George Floyd. 

The Conference Board is aligned with our process. It recommends considering the issue’s alignment with the following:

  • Your organization’s core values
  • The requirements and expectations of internal and stakeholders
  • The connection between the issue and business
  • The significance of the issue to society
  • The incremental impact your organization may have

Firms should choose how prominent a leadership role they wish to play and be transparent with stakeholders about the criteria and process they employed in deciding whether and how to respond. (Firms structured as vereins, with members and affiliates in different parts of the world, should take note of this last point.)

And as consulting giant McKinsey points out, you should also consider adjusting your corporate narrative with an eye to shifting geopolitical risks. If you have an early handle on how you would respond if a specific crisis occurred, consider whether that is aligned with how the firm talks about itself today. If that narrative conflicts with your anticipated position, shifting your narrative early can avoid confusion among internal and external stakeholders down the road. 

Engaging with us in a rigorous scenario planning process can bring significant clarity. That’s especially the case if the process is conducted before the crisis occurs and urgency overtakes the opportunity to be thoughtful. We’ve helped clients navigate the invasion of Ukraine, the repeal of Roe v Wade, and the Oct. 7 attacks on Israel. Reach out if we can help you, too.

About the Executive Positioning Practice Exemplifying Greentarget’s commitment to being a trusted advisor to clients, Greentarget’s Executive Positioning team provides c-suite executives (managing partners, CEOs, executive committees, and boards) with insights to anticipate, understand and respond to important global and social developments, analyzing key issues that can impact reputation and compel leaders to communicate.

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According to a study by LinkedIn and Coalition Greenwich, institutional investors research potential partnerships and investment managers by looking for useful, authoritative content online — particularly on LinkedIn. In fact, 79% of institutional investors use LinkedIn weekly, and 90% take action at least once a month after viewing a wealth manager’s content. 

Are you creating the kind of content these potential clients and strategic partners are looking for?

These findings came as no surprise to us. That’s because Greentarget collaborates with the Zeughauser Group to produce the annual State of Digital and Content Marketing Report, which tracks the content consumption and decision-making habits of general counsel and C-suite executives. And though our research hasn’t touched directly on the financial services sector, our findings are in line with what LinkedIn/Coalition Greenwich’s Investing in the Digital Age report shows. 

Put simply, well-educated professionals — regardless of industry — behave similarly online and are attracted to the same types of content. And because we know what those buyers are searching for, we can help you tell your institutional story in a way that will secure new business and drive your firm’s growth. 

3 Insights Into How Institutional Investors Consume Content

So what does the research say about the types of content your audience is hungry for? 

When it comes to information that decision-makers value most, our survey of 200 executives found that the clients of professional services firms still look to traditional media and other trusted, editorial-filtered sources. But the pandemic also accelerated the digital shift =, as COVID-19 disrupted in-person networking events and pushed more interactions online. 

We took a side-by-side look at the LinkedIn/Greenwich report and our 2022 State of Digital Report and uncovered three commonalities that should inform your owned media marketing strategy.

1. LinkedIn Is a Highly Trusted Source of Content 

Many professional services firms allocate the majority of their PR and communication spend on working to obtain earned media coverage. And that’s undoubtedly important — 79% percent of the executives we surveyed for the State of Digital Report said traditional media is still the information source they value most. 

But LinkedIn wasn’t far behind, with 69% of participants saying they value the platform highly. In fact, LinkedIn’s popularity has surged among  executive decision-makers.. Leaders are also increasingly visiting websites and blogs and maintaining heightened interest in webinars and other types of virtual events, a trend many expect to continue.

That means your firm as a whole and your individual wealth managers in particular should be active on LinkedIn while also maintaining an intentional role in authoring content for your firm’s blog, website, and other owned media channels. Sharing self-published content that highlights your expertise and unique positions of authority plays a critical role in reaching institutional investors and compelling them toward action. 

2. Personalization and Relevance Are Essential To Cut Through the Digital Noise 

Although institutional investors respect LinkedIn over other social media platforms, that doesn’t mean they value every piece of content equally. They want deep subject matter education from experts who provide timely, personalized insights.

Institutional investors decide which asset managers’ content to consume based on the following factors:

  • Personalization. Investors and executives prefer to read content written by an individual rather than a company or organization.
  • Novelty. Your subject matter experts should add to the conversations that matter to your audience, not merely repeat what everyone already knows. Often, the smaller and narrower the angle, the greater the potential to find something novel to say. 
  • Relevance. C-level executives want research that is in-depth in scope and technical in nature. But an interesting perspective isn’t enough. It should also provide actionable advice leaders can put into practice.
  • Timely topics. Although providing evergreen advice is important, institutional investors and C-suite executives want expert authorities to provide their unique insights on the topics that matter most in the world. In fact, 67% of investors reported they chose content based on a news-driven topic. 
  • Length. When it comes to establishing authority, longer content wins out over short items, and articles are the preferred content type.

Post-pandemic, 23% of investors report being willing to spend 30 minutes or more to consume a piece of content if it’s useful and relevant to them — up from just 9% in 2018. Fifty-seven percent will spend between 15 and 30 minutes. And when it comes to absorbing complex subject matter, investors prefer digital formats. 

3. Your Firm’s Authority Is The Ultimate Factor Driving Buying Decisions

Building your firm’s overall brand — or, in our lexicon, developing your ultimate position as an authority — is the most critical factor in attracting institutional investors and driving growth. Investors look at where content comes from — and who authored it — when deciding what to act on.

That’s why building your unique positions of authority through a strategic owned media program is so important. Showcasing your team’s credentials and regularly publishing your experts’ best thinking is a vital part of convincing executives and investors to engage your firm. 

But remember: the more your experts spark conversation and invite feedback — especially on platforms like LinkedIn — the better. That’s because true authorities don’t just disseminate their expertise. They skillfully participate in uncontrolled situations and allow others to iterate on their ideas. This involves soliciting a response, considering opposing points of view, and being willing to adapt and pivot a viewpoint when needed. 

Let’s Create a Smarter Content Strategy at Your Financial Services Firm

Even in a cluttered digital landscape, reaching the institutional investors your firm wants to attract is possible. But to do so, you need a savvy owned media and content strategy that uncovers and showcases your experts’ unique points of view. 

Greentarget has been studying the digital content landscape for more than a decade. We know what types of content your audience wants to consume. But even better, we know how to work with your team to create that content and publish or share it in all the right places. 
We’d love to help your asset management firm skillfully blend your knowledge with the accuracy and storytelling methods of traditional journalism. Together, we can match your business goals with your audience’s needs. So when you’re ready to start directing a smarter conversation at your firm, let’s talk.

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In times of economic uncertainty, client retention is of paramount importance. After all, when there’s less new business to be had, focusing on retention protects crucial month-to-month revenue and becomes a strong foundation on which future growth is built. 

Of course, focusing on client service will also yield valuable dividends no matter the economic circumstances. That’s why at Greentarget, we’ve spent several years defining the brand promise we deliver to clients. As a result, “The Greentarget Way” has become an integral part of our team culture. Every employee knows what it takes to live out our ideals when working and collaborating with clients.

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ChatGPT can’t replace the kind of thought leadership that true authorities are capable of producing. Its prose is still too wooden, unoriginal, and full of jargon to meaningfully convey your expertise. 

But as a marketing leader at a professional services firm, reading the output ChatGPT generates should make you wonder: Is my firm’s marketing content truly any better? Are we saying something new and insightful? And are our subject matter experts providing content that’s genuinely useful to our audience?

AI can help you strengthen your content strategy and reach your audience more effectively — if you learn how to make it work for you. ChatGPT might not be able to write your content for you. But you can use it to spin up user-focused topic ideas, see what others have said about an issue to uncover a unique POV, and discover what your firm can add to the conversation.

Check out our ChatGPT Article Roundup to discover more ways to make AI the useful tool it has the potential to be.

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