What clients find on Google: What’s a financial advisor?

Most people search for products and services online, and financial advice is no exception.

But not everyone who posts about financial advisors sees them in a positive light, so chances are some prospects come away with skewed perceptions of what you do.

Case in point: these are the top 10 results people get when running a search for, “What is a financial advisor?” (search results may vary):

Results analysis:

Results #1

Analysis: Investopedia isn’t 100% reliable. This page in particular says financial advisors must carry the Series 65 license, which requires they take the NASAA’s Uniform Investment Adviser Law Exam. That’s only applicable in the U.S.

Result #2

Analysis: This June 2013 CNBC article mentions some advisors scam investors, and points out anyone can claim they’ve gained the credentials needed to offer financial advice. Be sure to quell these potential fears early on.

Result #3

Analysis: This page is provided by a B.C.-based collaborative family law firm, which only serves clients going through divorce. The firm also says advisors help with mediation, tax planning and budget preparation. If you don’t have expertise in these areas, tell prospects up front so they don’t expect extra services.

Result #4

Analysis: This article gives tips on finding the right advisor. Prospects could pose the questions it suggests, so prepare answers for each one.

Result #5

Analysis: This Wall Street Journal piece is aimed at U.S. investors (it references the American CFP Board and NAPFA), and says there’s a clear distinction between professionals who provide financial planning, tax advice and insurance products. If you offer all three, you’ll stand out.

Result #6 and #7

Analysis: These pages are aimed at job applicants, not prospects. They also focus on UK and U.S. residents. For example, page #6 uses the acronym IFA (independent financial advisor), which is specific to the UK.

Result #8 and #9

Analysis: These two pages are offered by WiseGeek, a questions-and-answers website based in the U.S. Though it references organizations like NAPFA, it also claims people go to advisors primarily for retirement planning. Further, its distinction between financial advisors and consultants is unclear.

Results #10

Analysis: This article is also targeted toward U.S. prospects, and the reporter negatively equates financial advisors with salespeople. She also argues clients these days aren’t protected via a fiduciary standard (thus, the unsettling picture of the shark). So, make sure you explain your value proposition in the first part of the meeting.

Key search terms

When using search engines to find out more about financial advisors, Canadians use terms like:

• Advisor
• Financial services
• Financial planner
• What is a financial planner?
• What is a CFP?

Google Adwords’ keyword tool says the first term is used, on average, more than 1 million times a month in Canada. The others are used between 50,000 and 100,000 times a month.

To learn how to best use these keywords to drive your site traffic, read: Help clients find you online

For more, read:

OSC faces backlash on fiduciary standard

Don’t take a client for the wrong reasons

How to handle insults

Do your clients know your value?

IIAC to regulators: clients trust advisors

What clients aren’t telling you