Are you a business owner in the financial services space and have no idea where to get started to either build your new or update an existing website? With all of the various regulations and rules in place, it can be quite intimidating and seem like you’re walking on eggshells.
This post is going to give you a simple breakdown of what you’ll need to know before you get started so that you can make the best possible decision for your business.
Our Founder, Dan Bergano, has extensive experience working in the financial services space, specifically working in banking compliance and approving marketing materials that would be heavily regulated by the SEC, FINRA, and other local regulators. Dan earned his FINRA Series 99, 7, 63, and 24 to truly get an in-depth understanding of what is and isn’t allowed in the marketing world of financial services.
“What Are Some Common Pitfalls That I Should Avoid?”
- Testimonials – although testimonials act as a powerful trust factor in other industries and highlights to potential clients the excellent service you’ve provided, these should be avoided for financial services websites.
- Guarantees of Gains / Guarantees of Avoiding Losses / Showing Past Results – guarantees are another tool commonly used to show prospective clients that they have no risks to start working with your firm, but they are a huge no in the financial services industry and can lead to issues with the regulators. Some common examples that we’ve seen may include a financial advisor guaranteeing that if a client’s portfolio goes below a certain % he/she will pay the difference out of his/her own pocket and highlighting a rare example where one of your client’s portfolio was up 40% one year.
- Free Consultations – a lot of financial services firms that we’ve worked with have implemented this strategy in order to remove risk from potential clients – this is completely ok in terms of financial services regulations and rules and is a great way to get a better idea of what your potential client is looking for from your firm.
“What Should Be The Goals Of The New Website?”
It’s important to plan ahead of time and get an in-depth understanding of what you’re looking for from your updated web presence.
When we engage with clients, we send over a detailed questionnaire to get a better understanding of what makes their firm different and what’s their competitive advantage that keeps clients coming back.
A few items to consider before planning your site:
- What’s the main purpose of your website? Is it to educate visitors? Is it to show prospective clients your expertise in this field? Is it to have clients call for more info? It’s key to ensure the structure of this site is encouraging visitors to take a desired action that you plan ahead of time.
- How are you displaying your competitive advantage in this market? This can be challenging with the heavy regulations so previous experience in terms of years, certifications that you’ve earned, and mentioning news publications that you’ve appeared in can easily show your visitors your expertise.
“What If I Don’t Have Time To Make The Website Myself?”
At Norba Design, working with businesses in the financial services industry is one of our main specialties. We take away the headaches and frustration with these projects and set your business up to succeed.
Reach out now and we will gladly provide a free online presence audit to help highlight areas of improvement for your website, website rankings, and other key areas.
You’re just a quick call or email away from getting started now:
Email: [email protected]
Phone: (973) 922-0049
