Are you planning your growth or just hoping for it? The data reveals a strategic crisis in the RIA industry

Let me share a statistic that should concern every RIA principal: Only 27% of registered investment advisors have a marketing plan in 2025—down dramatically from 46% just one year ago.

Think about that for a moment. In an industry where growth is the #1 challenge, nearly three-quarters of firms are operating without a documented strategy for how they'll actually acquire new clients.

This isn't a minor operational gap. It's a strategic crisis that's costing firms millions in unrealized growth potential. And the most troubling part? Many RIA leaders don't even realize the price they're paying for this lack of planning.

The Alarming 41% Decline

The drop from 46% to 27% represents a 41% decline in marketing planning in just 12 months. This isn't a gradual erosion—it's a collapse.

What's driving this dramatic decrease?

Based on conversations with dozens of RIA principals, three factors emerge:

1. The "We've Always Done It This Way" Trap

When referrals are flowing, marketing feels unnecessary. Why invest time planning when clients keep coming? This thinking works—until it doesn't. Then you're scrambling to build systems under pressure rather than from a position of strength.

2. Compliance Concerns Overshadowing Growth

Marketing ranks 7th out of 9 strategic priorities for RIA firms, while compliance and cybersecurity rank significantly higher. The challenge? You can be perfectly compliant and still fail if you don't grow.

3. The Perception That Marketing Is "Selling"

Many advisors entered the industry to help people, not to "sell" them. But marketing isn't selling—it's education, visibility, and creating opportunities for the right people to find you. The best firms understand this distinction.

The Real Cost of No Marketing Plan

Let's talk about what this lack of planning actually costs. Not in abstract terms, but in real dollars and real opportunities.

Lost Opportunity Cost

Consider a typical growing RIA firm with $250M in AUM charging 1% fees:

• Annual revenue: $2.5M
• 5-7 new ideal clients could add $10M+ in AUM
• Potential additional annual revenue: $100K+
• Over 10 years with compounding: $1M+ in lost revenue

That's from just 5-7 clients you didn't systematically pursue because you had no plan for reaching them.

Expensive Hiring Mistakes

Here's a pattern we see repeatedly:

• Firm hires an expensive advisor or relationship manager
• No marketing plan to feed them leads
• New hire is expected to "bring a book" or generate their own leads
• After 6-12 months of minimal production, they leave
• Firm concludes "hiring doesn't work for us"

The data shows 66% of RIA firms plan to hire a financial advisor or relationship manager in the next 12 months. Without a marketing plan to support these hires, many will fail.

The real cost? $150K-$200K+ per failed hire (salary + benefits + opportunity cost + recruiting costs).

Reactive vs. Proactive Pricing

Firms without marketing plans tend to compete on the terms presented to them rather than the terms they set. When your only lead source is referrals, you:

• Have less negotiating leverage
• Attract more price-sensitive clients
• Can't segment and target high-value niches effectively

Firms with strategic marketing plans can target specific high-value client segments (like business owners, who 86% of RIAs serve) with specialized positioning and pricing.

Team Inefficiency and Burnout

Without a systematic lead generation approach, client acquisition becomes everyone's job and therefore no one's job. Advisors spend time on random networking events, sporadic social media posts, and inconsistent outreach—all with minimal returns.

A marketing plan creates clarity: who does what, when, and how success is measured.

What Having a Marketing Plan Actually Means

Let's clear up a common misconception: a marketing plan isn't a 50-page document that takes three months to create and sits on a shelf gathering dust.

A functional marketing plan for an RIA firm should include:

1. Ideal Client Profile (ICP) Clarity

Not "people with $1M+" but specific:

• Demographics: Age, location, profession, income sources
• Psychographics: Values, concerns, decision-making style
• Situation: Life transitions, business events, wealth events
• Current provider gaps: What they're not getting from current advisor

2. Differentiated Value Proposition

Why should your ICP choose you over:

• Their current advisor
• DIY investing
• Other RIAs in your market

This requires specificity. "Personalized service" isn't differentiation—everyone claims that.

3. Channel Strategy

Where will you reach your ICP? The data shows:

• 90% of RIAs use LinkedIn
• 67% leverage website/SEO
• 60% engage in community/charitable sponsorships

But using a channel and having a strategy for that channel are different things. Your plan should detail:

• What success looks like on each channel
• Content themes and cadence
• Resource allocation
• Integration between channels

4. Content Marketing Approach

What insights, education, or perspectives will you share that demonstrate expertise and build trust? This isn't about promotional content—it's about helpful, relevant information that makes prospects think, "This firm understands my situation."

For the 86% of RIAs serving business owners, this might include:

• Tax planning strategies
• Business succession planning
• Exit planning
• Key person insurance strategies
• Executive compensation optimization

5. Systematic Referral Generation

Notice the word "systematic." Referrals shouldn't be hoped for—they should be engineered through:

• Defined referral triggers in your CRM
• Regular touchpoint schedules with top clients
• COI (center of influence) partnership strategies
• Specific referral requests at appropriate times

6. Metrics and Accountability

How will you know if your marketing is working? Your plan should define:

• Lead generation targets by source
• Conversion rate benchmarks
• Cost per lead and cost per client
• Marketing investment as percentage of revenue
• Review cadence (monthly, quarterly)

7. 90-Day Action Calendar

What specifically will you do in the next 90 days? Who's responsible? What's the budget?

This is where planning meets execution.

Case Study: The Hidden Cost of "Winging It"

Let me share a composite example drawn from multiple RIA firms we've worked with:

Firm Profile:

• $300M AUM
• 8-person team
• 10+ years in business
• Strong client satisfaction
• Referral-only growth approach

The Situation:

Over three years, the founding advisor tracked where referrals came from:

• 15 clients generated 75% of all referrals
• 3 of those 15 moved out of state
• 2 retired and became less socially active
• 1 passed away

The Impact:

Referrals declined 40% year-over-year. With no other lead generation system in place, the firm:

• Couldn't maintain growth targets
• Delayed planned advisor hire
• Founder worked longer hours to compensate
• Considered lowering minimum to attract smaller clients

The Cost:

• $200K+ in unrealized revenue from slower growth
• $150K from planned hire delay (opportunity cost)
• Immeasurable cost in founder stress and team uncertainty

The Turning Point:

After implementing a marketing plan with just three strategic components (LinkedIn thought leadership, quarterly client appreciation events with +1 invites, and CPA partnership strategy), the firm:

• Generated 40% of new leads from non-referral sources within 6 months
• Reduced referral dependency risk
• Successfully hired the planned advisor with a pipeline to support them
• Founder reduced hours while revenue increased

The "I'm Too Busy" Paradox

The most common objection we hear: "I'm too busy serving clients to work on marketing."

This is the exact paradox that keeps firms stuck. You're too busy serving today's clients to build systems that would create tomorrow's clients—which means you'll always be in reactive mode.

Here's the reframe: A marketing plan creates leverage.

Instead of the founding advisor being the primary business development engine (which doesn't scale), a plan creates systems that:

• Generate leads without constant personal effort
• Can be executed by marketing staff or partners
• Work while you're serving clients
• Build over time through compounding visibility

The firms that break through aren't less busy—they're more strategic about where they invest time.

What Makes a Marketing Plan Actually Work

Not all marketing plans are created equal. The difference between plans that sit on shelves and plans that drive growth:

1. Integration with CRM

Your marketing plan must connect to your CRM system. Every lead source, every campaign, every touchpoint should be tracked. This creates:

• Visibility into what's working
• Accountability for follow-up
• Data for optimization
• Proof of ROI

Yet many firms have CRMs they barely use. This is why our 60-Day Program addresses both simultaneously—you can't execute a marketing plan effectively without CRM discipline.

2. Realistic Resource Allocation

A plan that requires 20 hours per week from the founder won't get executed. Effective plans account for:

• Who will actually do the work
• What budget is available
• What can be outsourced or partnered
• What technology can automate

3. Measurement and Iteration

The first version of your plan won't be perfect. But plans that include quarterly reviews and adjustment allow you to:

• Double down on what works
• Eliminate what doesn't
• Test new approaches systematically
• Build on learnings over time

4. Compliance Integration

Marketing in financial services has unique compliance considerations. Effective plans address:

• Review and approval processes
• Record-keeping requirements
• Testimonial and disclosure rules
• Social media governance

Compliance shouldn't prevent marketing—it should guide it.

The Competitive Window That's Closing

Here's what keeps me up at night on behalf of RIA firms: the window for easy growth is narrowing.

Right now, with only 27% of firms having marketing plans, there's a massive opportunity for firms that act decisively. You can establish thought leadership, capture search visibility, and build referral partnerships while most of your competitors remain passive.

But this window won't stay open forever. As more firms recognize the imperative for systematic marketing, competition for attention and visibility will intensify.

The firms that build marketing systems now will have:

• Established content libraries that build SEO authority
• Trust relationships developed over time
• Refined processes that improve with iteration
• Data on what works in their specific market

Those that wait will face:

• Higher costs to break through noise
• More sophisticated competition
• Harder to establish differentiation
• Playing catch-up instead of leading

Your Marketing Plan Minimum Viable Product (MVP)

If you're in the 73% without a marketing plan, here's your starting point—a minimum viable marketing plan you can create in 2-4 hours:

Step 1: Document Your Ideal Client (30 minutes)

Answer these questions:

• Who are your top 10 favorite clients?
• What do they have in common?
• What problems do you solve best?
• Who can afford your minimum?

Step 2: Choose Your Primary Channel (15 minutes)

Where does your ideal client spend attention?

• LinkedIn for professionals
• Local community for geographically focused practices
• Industry associations for niche specializations

Pick ONE to start.

Want expert guidance on implementation? Our 60-Day Program provides hands-on support for every step. Learn more →

Step 3: Define Your Content Theme (30 minutes)

What insights do you have that your ideal client needs? List 10 article topics you could write on.

Step 4: Create a 90-Day Calendar (45 minutes)

What will you publish and when?

• 12 LinkedIn posts (once per week)
• 6 longer articles (every 2 weeks)
• 3 email newsletters (monthly)

Step 5: Set Lead Generation Metrics (15 minutes)

What would success look like?

• Website visits
• Content engagement
• Consultation requests
• New relationships initiated

Step 6: Block Execution Time (15 minutes)

When will you actually do this work? Block 3-4 hours per week.

Total time investment: 2.5 hours to create a 90-day marketing plan.

Is your growth challenge worth 2.5 hours of strategic thinking?

The Partnership Advantage

This is precisely why Vantage Point and TE+A Marketing created our partnership. We recognized that RIA firms face a chicken-and-egg challenge:

• They need marketing to grow
• But they're too busy serving clients to create marketing
• And they lack expertise in both CRM systems and marketing strategy

Our 60-Day Program solves this by:

1. Implementing CRM systems that track every lead and opportunity
2. Creating marketing plans tailored to your firm's ICP and resources
3. Executing initial campaigns so you see results quickly
4. Training your team to maintain momentum after the engagement

You get the plan, the execution, and the results—without taking your focus away from serving clients.

Your Decision Point

Here's the reality: you're either planning your growth or hoping for your growth.

Firms that plan:

• Have diversified lead sources
• Can make confident hiring decisions
• Weather inevitable referral fluctuations
• Scale systematically

Firms that hope:

• Stay vulnerable to referral dependency
• Experience feast-or-famine cycles
• Struggle to justify marketing investment
• Wonder why growth is so hard

The data is clear: only 27% of RIA firms have marketing plans, yet growth is the #1 challenge. These two facts are directly connected.

The question is: which side of this statistic do you want to be on?

Stop Hoping for Growth. Start Planning for It.

Download our Marketing Plan Template specifically designed for RIA firms—including compliance considerations, channel strategies, and measurement frameworks.

Schedule a Marketing Strategy Assessment →

In a 45-minute consultation, we'll help you identify:

• Your highest-leverage marketing opportunities
• Quick wins you can implement immediately
• How the 60-Day Program could accelerate your results

The cost of waiting isn't zero. It's measured in missed opportunities, unrealized growth, and competitive advantage surrendered to firms that choose to act.

About the Partnership: Vantage Point and TE+A Marketing provide integrated CRM and marketing solutions for RIA firms. Our 60-Day Program helps firms move from referral-dependent to systematically growing in 60-90 days.

About the Author

David Cockrum  founded Vantage Point after serving as Chief Operating Officer in the financial services industry. His unique blend of operational leadership and technology expertise has enabled Vantage Point's distinctive business-process-first implementation methodology, delivering successful transformations for 150+ financial services firms across 400+ engagements with a 4.71/5.0 client satisfaction rating and 95%+ client retention rate.

• • • Email: david@vantagepoint.io
    • Phone: (469) 652-7923
    • Website: vantagepoint.io