Wealth Management DAM Systems: Your Ultimate Guide

Brand consistency is a crucial factor to the awareness, reputation and success of wealth management firms. Unfortunately, maintaining a consistent identity across all materials and channels presents many challenges. For example, outdated materials and logos may get used, requests might be sent for assets that have already been produced, and what should be a quick turn-around oftentimes becomes a drawn out and frustrating process. While this may seem like just a mere inefficiency, it can actually result in a significant loss of productivity for your firm. In fact, searching for up-to-date files takes up an average of 30 percent of an employee’s day and could cost your firm millions in lost productivity. 

The good news is, your firm is not the only firm with these challenges. Hence the invention of the digital asset management (DAM) system! A DAM system offers a way to create a central location for all digital assets so your firm can save time and focus on high-priority tasks. At its broadest definition, a DAM system is a central hub for firms to securely store, organize, retrieve and review digital content such as white pages, pitch decks, head shots, graphics, PDFs, logos, videos and more.

These centralized digital libraries come in many different shapes and sizes and choosing the wrong option for your firm can be cumbersome and costly. We have worked with our clients to roll out DAM solutions and wanted to share what we have learned along the way.

When Do I Need to Invest in a DAM System?

While DAM systems certainly are beneficial, you may be wondering if it is the right time for your wealth management firm to take the plunge. To answer this question, we recommend thinking about how your firm currently manages its digital assets.

  • Is it resource-intensive to use your digital assets?

  • Is it cumbersome to access your assets where and when you need them?

  • Does creative collaboration often result in bottlenecks?

  • Are you unsure if your digital assets are secure?

If you answered yes to any and all of the above questions, then it may be time for your firm to invest in a DAM system.

Which Wealth Management DAM System Is Best for You?

Once your firm decides to invest in a DAM system, there are numerous options to choose from. There is no one size fits all. Despite all of these programs serving the same purpose, each specific software is unique – as is every wealth management firm.

We recommend first identifying the current challenges your firm faces in regard to your digital assets. Then, identify key users and discuss all the required features and functionality you hope your future DAM system will possess. Some common features that we have seen our clients search for include:

  • Support all file formats

  • Ability to assign roles and permissions to users

  • Directly edit and/or convert files in the system

  • Easy search tools

  • Notifications

  • Brand templates

  • Version control and history

  • Attractive user interface

  • Metadata integrity

  • Tracking and reporting

  • Customer support

Once you figure out what exactly your firm needs, it is time to evaluate specific DAM systems. Read reviews, speak to DAM providers, enlist in live demonstrations and trials, and take all of the necessary steps to ensure that the DAM system you select is the right one for you, your team and your firm.

The importance of participating in a free trial cannot be overemphasized. Nearly every DAM option offers a trial option, which is the only way to effectively grasp how the system works and whether it is a good fit.

The cost of a DAM system can creep into six figures very quickly; however, we don’t feel that our clients need to make that kind of investment to obtain the solution they need. Depending on what your firm’s individual needs are, FileCamp offers a great low-cost option starting at $350/year. Brandfolder, Bynder and Canto are also great options that range between $7,000 - $25,000 annually and offer additional custom benefits.

What to Consider When Shopping for a DAM System

Think about the following questions when evaluating your DAM system options:

How much storage do I need? We recommend 1 terabyte (tb). This will be plenty of storage but will not leave your firm stuck or needing to purchase additional storage at a premium. To put this in perspective 1 tb accommodates 2 million photos.

How many users do I need? This depends on the size of your firm and who will be using the DAM. In addition to employees, consider contractors, clients and industry colleagues. We recommend getting a program with unlimited users or enough to accommodate for your firm’s growth. It is crucial to identify admin users and light users in advance of selecting a DAM.

How long has the company been around? Many start-ups can be here today and gone tomorrow. You want to make sure that the company you are choosing is here for the long haul. Ask questions to make sure they are properly funded for not only now but also the future. The software will require future modifications to avoid becoming obsolete, and this will require proper funding/planning by the company.

Which companies use this software? The wealth management space has very specific and complex needs. A DAM system that caters to design firms or tech firms may not be a good fit for a wealth management firm. Ask your rep if comparable companies are using the software, and if so, how they are using it.

When is the best time to negotiate a DAM contract? Like many sales-oriented companies, DAMs are very goal-oriented. They typically are more inclined to offer discounts and promotions toward the end of the month or quarter. This can be beneficial to keep in mind to obtain the most economical price for your firm.

How Do I Get Started?

Now that you understand everything that you need to know about wealth management DAM systems, it is time to officially get started. However, with so many options to choose from, finding and implementing the perfect system for your firm can oftentimes be complicated and time-consuming. That’s where we come in. Contact our experienced wealth management marketing and communications team to get started today.

6 Wealth Management Marketing Resolutions for a Successful New Year

With a new year comes new opportunities for success. However, if your firm is hoping to achieve great success throughout 2019 and beyond, we recommend that you make some wealth management marketing resolutions. Whether your focus is on retaining your current clients or obtaining new ones, starting the year off with clear marketing objectives can help you accomplish your goals.

Here are six wealth management marketing objectives to make sure that you hit the ground running this new year.

Resolution #1: Understand Yourself

While this may sound rudimentary, being able to simply define what differentiates your firm from the competition is often no easy task - and this is largely due to many wealth managers not taking the time to properly brand themselves. This year, establish a clear and authentic brand that shows your firm’s values and illustrates why clients should work with you. Once your brand is established, it is time to clearly and consistently communicate it across all of your marketing channels.

Resolution #2: Understand Your Clients

Having a target audience is an essential part of getting and keeping clients. However, simply targeting high net worth clients is not enough. We recommend that you get to know each current and potential client you wish to serve as an individual in a personal and engaging manner. What are their demographics? Do they own a business? Are they struggling to preserve generational wealth? Do they live a flamboyant lifestyle or one that is more understated? These are some of the questions to consider asking yourself in order to develop long-lasting and successful relationships.

Resolution #3: Build a Comprehensive Website

In today’s digital world, your website often acts as the face of your firm, so it is essential that you build a professional and comprehensive website. Do this by making sure that the background, colors, fonts, and images match your firm’s brand and are visually appealing. Also, take the time to clearly and effectively communicate your mission statement, services, values, and provide a forum for news and thought leadership. By building a comprehensive website, you are able to boost your credibility with prospects and industry colleagues.

Resolution #4: Produce Engaging Content

With so much content produced and put in front of people all day every day, the necessity to produce engaging content that will interest clients and prospects is more important than ever before. Not only does engaging content get people to take notice, but it can also be used to boost brand awareness, strengthen loyalty, and build client relationships. Reap these benefits by ramping up your content efforts and go from simply producing content to producing effective content that connects and builds trust with your audience throughout the entire client journey.

Resolution #5: Build a Social Media Presence

Similar to content, social media is proving to be an important channel in wealth management marketing. While Snapchat and Instagram may not provide any value to your firm, LinkedIn, Facebook, and Twitter are all great platforms that can maximize your content and establish you as a thought leader in the financial industry. Get started by creating profiles that match your brand on all three channels and posting engaging content consistently. Just remember: despite the real-time interaction that occurs on social media, it is still crucial to follow all regulatory compliance guidelines.

Resolution #6: Utilize the Power of Events

One of the most effective ways financial advisors can network and initiate face-to-face conversations with potential prospects is to host events. While having your firm host its own event is ideal, attending and speaking at other relevant industry events can also be beneficial to your business and further establish you as a thought leader in your field. Regardless if it is your firm’s event or you are a featured speaker at someone else’s, always take the time to create a plan with well-defined goals and strategies to ensure you make the most out of each opportunity.

Interested in Learning More About Wealth Management Marketing?

Now that you have identified your objectives, it is time to achieve them. For more information about accomplishing your marketing objectives, or just to learn more about wealth management marketing in general, please do not hesitate to contact us. Our team of marketing, branding, public relations, and communications specialists has what it takes to provide you with the support you need the way you need it.

Content Marketing for Advisors: How to Differentiate Yourself

While content marketing for wealth advisors is not new news, it is taking over as a strategy to grow and build lasting relationships with families. With content marketing generating three times as many leads and costing 62% less than traditional marketing, financial advisors across the country are now recognizing the power of content. This has led to a flood of publishing, so it's critical to not only publish, but publish well. Effective content is timely, relevant and interesting to your audience...and a great place to start is to ask: "What are my clients asking me about?"

Take a look at these top 7 tips to produce content to differentiate yourself.

7 Steps for Effective Content Marketing For Advisors

Step 1: Identify Goals and Objectives

The first step for any content marketing strategy is identifying your goals and objectives. It is extremely difficult to successfully execute a plan without understanding why you are taking action and what goals you hope to accomplish. Do you want your content to build awareness? Generate prospects? Boost search engine rankings? Without defining your goals, it’s impossible to measure your progress and adjust as needed.  

Step 2: Define and Understand Your Target Audience

No matter your specific goals and objectives, to achieve them you must define and understand your target audience. Consider the type of clients and prospects you wish to replicate, and conduct research to figure out what is most important to them. Which topics can you bring a new perspective to? What questions are people asking that you can answer? Answer these questions to determine what type of content you need to create in order to resonate with the type of prospects you wish to attract. 

Step 3: Plan Your Content

After you have figured out your goals, objectives and target audience, you need to plan your content. Create a content calendar at least once every quarter and make sure that is complete with topics and dates. Try to balance and mix up the types of content you create by subject and point of client journey.  Also, it is important to note that your content calendar does not need to be set in stone – if you see a trending topic that you are knowledgeable about and that matters to your clients and prospects, jump on it.

Step 4: Create High-Quality Content

When it comes to content marketing for advisors, quality must always come before quantity. One quality piece that delivers truly valuable insights to your target audience is significantly more valuable than a new fluff piece posted daily. Ensure your content is nothing but the highest quality by always relating to your audience, avoiding complex financial jargon, backing up points with data, using proper grammar and spelling, and incorporating correlating images

Step 5: Utilize a Call to Action

A high-quality piece of content should provoke a response from your audience – take advantage of this by directly asking for a specific action. This call to action can be anything from scheduling an appointment for a planning session to an invitation to a seminar and everything in between. No matter what, you do not want to miss this opportunity to get one step closer to achieving your goals.

Step 6: Post and Promote

Once your content is complete, proofed and approved by compliance, it is time to post and promote. For compliance reasons, your website blog is typically the best central place for your content. After it is posted there, share the link in posts on your social media accounts and create an email campaign around it to be sent to your growing list of contacts.  

Step 7: Track and Optimize

The final step toward effective content marketing for advisors is tracking and optimizing. First, measure any progress and track all results from your content marketing campaign. What is working? What is not working? Could you change anything to better reach your goals? Answer these questions and then optimize all of your future content for optimal success.

There is no time like the present to start following these seven steps so both your content and your firm can cut through the clutter and stand out from the competition. Interested in getting started? Then contact our experienced and dedicated wealth management marketing team today.

Are You On The Website Naughty List? List of Top 5 Advisor Website Mistakes

“If you don’t show up on Google, then you don’t exist.”

I’m not sure who first spoke those wise words but they were right. In wealth management marketing, a website is one of the most critical pieces of collateral in an advisor’s arsenal. It can serve as:

·      a widely available and dynamic brochure to describe services and value prop;

·      verification for those seeking your firm, location or staff;

·      a source of information and thought leadership;

·      and a point of affirmation for those researching your firm.


In our marketing and communications work with wealth advisors, we complete a great deal of industry research and often look at websites all day long for competitive analysis and inspiration. While there are professional and perfectly beautiful advisor websites, more often than not, websites we see are less than inspirational. Most of the time, the wealth advisor websites we find are unprofessional, unattractive and uninformative. This is not only a missed opportunity, but can also act as a deterrent!

Knowing that the first step of vetting a firm is often a quick Google search, why would a wealth advisor not make their website amazing? A good website with informative content can score instant credibility! That said, simplicity is the key; less is more.

There are a few faux pas that I often see – here are the top five:

1.      No Website At All -

The most heinous mistake I see happens when I search for a firm - and find nothing. Even worse, when I search for the firm I am seeking, I'll incorrectly stumble on similarly-named competitors who have websites optimized for search. This can make it difficult for prospects to find your firm - even a client coming in for a meeting can be frustrated at not being able to find your address easily. Not having a website makes it seem like your firm is either non-existent or not professional enough to have one.

2.      Typos –

Websites that have grammatical errors and misspellings make the firm in question appear sloppy. Your website is a reflection of you and your firm – would you send client documents with typos? No way! Your website is the most widely available piece of collateral your firm produces. It needs
to be properly edited for mistakes.

3.     Poorly Structured Navigation -

Many times when I see a wealth advisor website, my first impression is that it is a jumbled mess, often with choppy navigation and many more pages than necessary. Our attention spans are getting shorter and shorter, and a prospect is not going to take the time to search through a confusing maze of sub-navigation pages to find the information they want. The content of your website should be written for your prospects – and less is more! A simple navigation structure and easy-to-read content makes it easier for the reader to understand your offering. 

4.     Out of Date content -

There is a reason we don’t wear clothes from high school. An out-of-date website leaves the impression that your firm is not current in technology capabilities and communication methods. Firms who embrace technology to benefit their clients should also make sure this forward-thinking approach is reflected in their public materials.  A website is not “set it and forget it”  - rather it should be refreshed every 3-4 years to ensure current design and technology standards.

5.     Basic Unattractive Look and Feel -

Why is a website often the most unattractive piece of collateral a firm has to offer? Your firm’s website should be the MOST appealing part of your marketing arsenal! In an age of digital marketing, the investor is constantly bombarded with images, information and shiny objects, so it is important to make sure your website is an appropriate reflection of your firm’s caliber of service. Keeping your website consistent with your firm’s brand standards help a reader seeking your website know they’ve come to the right place. In an era when there may be several firms with similar names to yours, it is critical to use visuals that are attractive and consistent with the rest of your firm’s collateral and brand.