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As a financial professional, you build your business on trust. Clients seek guidance on their most important life decisions, and that relationship is founded on more than just numbers. It’s about connection.
What if you could deepen that connection, expand your reach and strengthen your team while making a tangible difference in your community?
Strategic community engagement offers a powerful way to do that. It’s about aligning your firm’s values with meaningful action.
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The benefits go far beyond a simple tax deduction. When done right, giving back can boost brand recognition, drive referrals and foster a company culture that top talent wants to be a part of.
Let’s explore how real advisers are turning community spirit into business growth.
Build your brand by building your community
In a crowded marketplace, a strong brand helps you stand out. Community involvement is an authentic way to show your firm’s values.
Instead of just telling people about your causes, demonstrate them through action, creating a reputation that marketing dollars can’t buy.
Just ask Rob Russell of Russell Total Wealth and Wellness. His Dayton, Ohio, firm decided to move beyond sporadic donations and focus its philanthropic efforts on four core pillars:
- Supporting military veterans and first responders
- Mentoring local youth
- Improving community health care
- Boosting Dayton’s business reputation
By becoming a lead sponsor for such organizations as Big Brothers Big Sisters, the Russell name became highly visible at local events.
This strategic approach didn’t just feel good; it helped elevate the firm’s profile and showed the community who they were.
Turn authentic connections into client relationships
Many advisers find their best clients through referrals, which are built on trust. Community engagement is a natural way to build that trust on a wider scale.
When potential clients see you and your team volunteering or passionately supporting a local cause, they see you as more than just an adviser. They see you as a neighbor.
This is exactly what the team at Russell Total Wealth and Wellness experienced. The firm’s deep community involvement led to referrals, including a client who likely would have never attended a traditional seminar. These clients were drawn to the firm’s genuine commitment to the community.
David Brooks of Retire SMART found a similar path to connection, with a different method. His calls strategy involves re-engaging past prospects with timely, relevant information.
By reaching out with a thoughtful message tied to current events, he turns a cold lead into a warm conversation.
This approach, focused on personal connections, helped bring in a substantial number of assets in a single year. It proves that focusing on people first pays off.
Strengthen your culture and engage your team
A strong company culture is essential for attracting and retaining great employees. People want to work for a company with a purpose beyond the bottom line.
Involving your team in community initiatives can increase morale, foster teamwork and create a shared sense of pride.
Chad Slagle of Slagle Financial saw his employees become more engaged — and more grateful to work for a company with heart — by shifting to a service-oriented mission. Spurred to action by the death of a local police officer who left behind a wife and daughter, Chad founded Teaming Up for Good, his firm’s philanthropic wing.
The initiative, which supports first responders, the military and children, gave his team a powerful cause to rally around. It transformed their workplace into a community of people making a difference together.
Create a legacy of lasting impact
While the business benefits are clear, the most profound outcome of community engagement is the positive change you create. By addressing local needs, you can help build a legacy that lasts.
Slagle’s support for the Tyler Timmins Memorial Foundation, created in honor of the fallen officer, shows how a firm can help heal and strengthen its community in a time of need.
Similarly, Josh Bradley of Capital City Financial Partners hosted educational events with FBI agents to teach clients about elder fraud and cybersecurity. By providing this vital service, his firm became a trusted advocate for its community’s most vulnerable members.
Actionable steps to get started
Ready to harness the power of giving? Here’s how you can start:
Define your mission. Identify causes that align with your firm’s values and resonate with your team. What are you passionate about?
Plan with purpose. Start small. You don’t need a massive budget to make a difference. Choose one or two initiatives, and do them well.
Involve your team. Ask your employees what causes they value. Giving them a voice will increase buy-in and engagement.
Partner for impact: Collaborate with local nonprofits or community organizations. They have the expertise and infrastructure to help you make a real impact.
Share your story. Let your clients and community know what you’re doing. Share updates in your newsletter, on social media or at client events. This inspires others and reinforces your brand’s commitment.
Ultimately, integrating community engagement into your business model is a win-win. You’ll build a stronger business, a more engaged team and a better community. It’s a powerful reminder that doing good truly is good for business.
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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.
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