last Updated 8 May 2024

Mastering Facebook Ads for Financial Advisers

In the buttoned-up world of financial advising, the leap into the bustling, emoji-filled realm of social media advertising can feel like trading a tailored suit for a Hawaiian shirt. But here's a revelation: Facebook, with all its vacation photos and viral cat videos, is also a potent tool for the astute financial adviser.

Scepticism is natural, especially when the platform seems more attuned to sharing memes than market analysis. Yet, beneath the surface of likes and shares lies a treasure trove of potential clients. Facebook Ads offer a unique opportunity to connect with an audience that, while scrolling for the latest family updates, might just be in need of financial wisdom.

This article aims to bridge the gap between the casual social media user and the professional insights of a financial adviser. We'll explore not just the 'how-tos' but also the 'why bother?' of Facebook Ads, tailoring our advice to the distinct challenges and opportunities that financial advisers face in this digital age.

The Facebook Ads platform: More than just posts and likes

Here's the thing: Facebook's not just a social platform anymore; it's a goldmine for professionals like you. With over 2.8 billion monthly active users, imagine the reach you could have. And it's not just about the numbers – Facebook's targeting capabilities are incredibly precise, allowing you to zero in on your ideal clients based on their demographics and behaviours. This kind of targeting is a game-changer, something you don't often get with traditional advertising.

Plus, Facebook is more than just ads; it's a space to build your brand, engage with clients, and establish trust. And actually, compared to traditional advertising avenues, Facebook is remarkably budget-friendly, offering measurable results.

So, are Facebook Ads a good marketing strategy - Absolutely!

First things first - Facebook Ads types

The platform offers various ad formats, each with its unique strengths. If you want to keep things simple, you can choose an image or carousel ad. But here are two ad forms that can be particularly useful to financial advisors:

Video Ads: Video ads present a unique advantage for financial advisers, especially in showcasing client testimonials and simplifying complex financial concepts. 

They are one of the best-kept secrets of successful marketers, many of whom only pay a fraction of a penny for each video view. Of course, not all ad campaigns are going to benefit from video ads, but for those who do, the effects can be amazing. People on social media are all about self-gratification. They don’t want to do a lot of hard work – they’re on social media to relax or because they are trying to put off doing some real work!

This is why video ads work so well – because they require minimal effort on the part of the viewer. They don’t need to read anything. All they have to do is hit the play button (if they haven’t set it to auto-play), sit back and watch your video! There’s no wall of text to read, no tiny fonts to squint at. And they get your message just by watching a few seconds of video!

Some marketers say that while video ads are terrific for engagement rates, this doesn’t translate directly into sales. Well, that may be true, but it really depends on the kind of products and services you’re offering – not to mention your audience, your video ad presentation, and so many other factors.

The point is that with video ads, it is possible to get 1,000 views for £1 or £2! There’s probably no easier way to achieve this kind of exposure for such a low cost, either on Facebook or on any other advertising platform!

Financial Adviser Email Marketing - Mastering Facebook Ads for Financial Advisers

Lead Ads: Particularly useful for financial advisers, these ads enable potential clients to sign up for more information, webinars, or consultations directly through Facebook, simplifying the lead generation process.

This means that when someone clicks on your ad, they're presented with a form that's pre-populated with information from their Facebook profile, such as their name, email, or phone number. Since the form is integrated within Facebook and pre-filled with the user's information, it typically sees higher engagement and completion rates compared to traditional online forms.

Discover How to Use Facebook Ads to Generate High-Quality Mortgage Leads
(without spending a fortune) here.

If you’ve decided which ad type would work best for you, let’s move on to how you can reach your potential clients.

Identifying your target audience and tailoring messages

Knowing your audience is half the battle won. For financial advisers, pinpointing the right demographic is not just about reaching more people but reaching the right people.

Are your client's retirees, young professionals, or families planning for the future? Each group requires a different financial approach and a different advertising strategy.

Consider using Facebook's 'Lookalike Audiences' feature, which identifies users similar to your existing clients. This is a powerful way to reach new people who are likely to be interested in your services. In order to provide this data, gathering client information from online forms is more important than ever.

Once you know your audience, the next step is tailoring your message. For younger audiences, focus on long-term financial planning, whereas retirees might be more interested in wealth preservation. Your messaging should address their specific financial concerns and aspirations. Using relatable language and scenarios makes your ads more effective and engaging.

How to create effective Facebook Ads

Creating ads that stand out in the bustling world of Facebook is about striking the right balance between being informative and engaging.

Your headline is the first thing potential clients see, so make it count. It should be attention-grabbing yet relevant to your services. Next, the ad description should succinctly convey the value you offer. Avoid jargon and focus on clear benefits. A good description might read, "Personalised investment strategies to fit your unique life goals."

And finally, end your ad with a strong CTA. This could be an invitation to schedule a consultation, sign up for a webinar, or download a financial planning guide. Make it clear and easy to follow.

Financial Adviser Email Marketing - Mastering Facebook Ads for Financial Advisers

Budgeting and cost management

When planning your Facebook Ads campaigns, start by zeroing in on what you want to achieve. Are you aiming to boost your brand's visibility, reel in leads, or secure new clients? Once you've pinned down your goals, it's time to set your budget.

Your budget needs to reflect your immediate objectives without losing sight of the bigger picture. Remember, it's all about striking a balance – your investment should match the outcomes you're hoping for.

Now, let's talk about how Facebook Ads actually work. It's a bidding game where you're competing for ad space. You must get familiar with concepts like cost-per-click (CPC) and cost-per-impression (CPM). These are the two main ways you'll pay for your ads, depending on whether you want to pay per click or per thousand views.

Next up is choosing your bidding strategy. You can play it two ways: manual or automatic. If you like having control and know your numbers well, manual bidding lets you call the shots. But if you prefer to let Facebook's smart algorithms do the heavy lifting and optimise your spending, automatic bidding is your friend. Keep an eye on how your audience responds and how your ads perform – this will guide your decision on which bidding style suits you best.

Strategies for enhancing ROI for ad spend

Getting the most out of your ad spend on Facebook isn't just about setting it and forgetting it. Regular check-ins on your campaign's performance are a must. If an ad isn't pulling its weight, don't hesitate to hit the pause button. There's no point in pouring resources into something that's not working.

Now, think of your ad campaign as a testing ground. Mix it up with different ad styles and target different groups to see what sticks. Maybe a video ad resonates more than a carousel ad, or perhaps a certain age group engages more with your content. It's all about finding that sweet spot where your message meets your audience's interest.

And watch out for ad fatigue. If you bombard your audience with the same ad repeatedly, they'll tune out. Keep things fresh and engaging.

In the end, effective budget management and a strategic approach to ad placement and bidding can significantly enhance the ROI of your Facebook ad campaigns. It's about making sure every pound you put into your Facebook ads comes back as a solid contribution to your financial advising business.

There are viable ways to minimise Facebook ads costs - some relatively easy to implement and some that need a bit of effort. This has also intrigued me for a while, so I decided to write a book on it.

7 Common mistakes to avoid

As someone who has been closely involved in the world of Facebook advertising for financial advisers, I've observed a pattern of common mistakes that many in the industry tend to make. But hey, part of getting better at something is learning what not to do, right? So, let's chat about some of these common mistakes I've come across and, more importantly, how you can sidestep them to make your Facebook Ads shine.

1. Not defining clear objectives:

One of the most frequent missteps is jumping into Facebook Ads without clear goals. Whether lead generation, brand awareness, or client retention, every campaign needs a specific objective. Advisers should define what success looks like for each campaign and tailor their strategy accordingly.

2. Ignoring Facebook's Ad policies:

Financial services are a highly regulated industry, and Facebook has strict guidelines for advertising. Advisers should familiarise themselves with these policies to avoid having their ads rejected or their accounts suspended. You need to review Facebook's advertising regulations and ensure all your marketing efforts and messaging are compliant.

3.Targeting too broadly or too narrowly:

While Facebook's targeting capabilities are powerful, they can be a double-edged sword. Targeting too broadly can waste ad spending on irrelevant audiences while targeting too narrowly might miss potential clients. Find a balance and continuously adjust targeting criteria based on campaign performance.

4. Underestimating the power of visual content:

Often, financial advisers may rely heavily on text-heavy content. However, visual content like images and videos can significantly increase engagement and convey complex financial concepts more effectively.

5. Neglecting the landing page experience:

The journey doesn't end with a click. The landing page where users arrive after clicking the ad should be relevant, easy to navigate, and aligned with the ad's message. A poor landing page experience can lead to high bounce rates and low conversion.

6. Failing to track and analyse data:

Not using Facebook's analytics tools to track ad performance is a missed opportunity. Regular analysis helps understand what's working and what's not, allowing for data-driven optimisations.

7. Overlooking retargeting opportunities:

Retargeting users who have already interacted with your website or Facebook page can lead to higher conversion rates. Advisers often miss out on this potent tool for re-engaging interested prospects.

By avoiding these common pitfalls, financial advisers can create more effective, efficient, and compliant Facebook ad campaigns, ultimately leading to better results and a stronger online presence.

Financial Adviser Email Marketing - Mastering Facebook Ads for Financial Advisers


Whether you're looking to widen your client base, boost your brand, or just get the word out about your services, Facebook ads are a tool that's hard to beat in terms of cost, reach, and effectiveness.

As you've seen from this article, there's a lot more to Facebook Ads than first meets the eye. For mortgage brokers who are serious about using Facebook marketing to generate low-cost, high-quality mortgage leads, I've put together what I believe is the only Facebook advertising course that's tailored exclusively to the needs of UK mortgage brokers. 

About the author 

David Miles

As a digital marketing consultant, author and trainer, I specialise in helping businesses in the financial services sector use the internet to get more enquiries and increase profits.

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