5 Considerations for Wealth Management Firms Hosting Events (with examples!)

With an increased focus on organic growth and lead generation, many wealth management firms are turning to in-person events.

And it’s no wonder…events are a powerful channel to provide value for attendees and get high-impact face time with prospects.

Planning an in-person event does, however, bring with it a host of considerations . . . from venue selection to timing, seating charts, and more.

As with many business problems, data can help marketing teams narrow down the choices and build an event that provides a top-notch experience for attendees and generates quality leads.

1. Choose the Right Venue

To help drive turnout and event satisfaction, venue selection that matches your ICP (Ideal Customer Profile) is critical.

A firm in California had been hosting a yearly customer appreciation event at a local golf course but was unhappy with the attendance rate. After the firm used Catchlight to analyze the interests of their clients, they learned that a large portion of their clients were interested in wine. So, the firm acted on the data and changed the location of the event to a local vineyard. This data-driven decision increased attendance and satisfaction rates, resulting in more leads and more engaged customers.

After choosing your event venue, you should plan a time that works for your audience. For seminars, consider having them after work hours or on a weekend so that working professionals can attend. If your seminar is more focused on retirees, ensure the venue is accessible with plenty of parking.

2. Registration and Communication

It’s best practice to create an online registration process to capture registration information when hosting an event. This will allow you to send promotional, confirmation, and follow-up emails to registrants. A marketing automation platform will make this much easier, but it’s possible to hack it together using simple free tools.

When launching an event, consider the following communications:

• Promotional emails: These emails help spread the word about your event and convince your audience why it’s worth their time to attend. If you are unsure what to send, consider using generative AI to help write emails specific to your target segment. If you are hosting a seminar on retirement strategies, narrow down your targeting to households who are 1-2 years from retirement. Don’t invite the 30-year-olds in your CRM to a retirement seminar! Save their event invite for something more relevant.
  
  

• Confirmation: When registering for an event, people expect to receive a confirmation that has all the event details – or at least sets the expectation for when details will be shared. In your confirmation email, include a calendar invite or instruct the recipient to add the event to their calendar. This is also a great opportunity to link out to social media channels or your website so the user continues to explore your brand. Registration emails are a must; don’t forget this impactful detail!
  
  
• Pre-event emails: As you prep for the event, be sure to send at least two communications to your registrants. Send a reminder at least a few days out to build excitement and continue to sell your contact on why the event is a good use of their time. Also, send a reminder the day before. Reminders should include location, time, and parking details so they are easy to find.

3. Seating Chart Importance

The seating chart is an easy detail to overlook with events. Seating charts provide structure for attendees. They don’t need to overthink which seat to choose because it’s already assigned – we all know that if you leave it up to attendees, no one will sit up front.

Designing the seating chart is also a great opportunity to group similar people together and create networking opportunities. Seating people together by estimated asset range or age is one simple way to do this, but sophisticated firms are using data to make more strategic choices.

Perhaps you seat business owners or people who are interested in charitable giving in a shared section. These groupings are less obvious but are an opportunity to create memorable moments of connection for your attendees. It has the potential to transform the event into a more interactive format.

Below is an example of a seating chart you could create with the help of insights and data from Catchlight.

There are other important seating chart details that are easy to overlook. For example, ensure everyone can see and hear clearly. Will arranging seats in a U-shape or classroom style be better? This attention to detail with your events strategy can help manage group dynamics and bring your event from good to great.

4. Event Topic & Format

Choosing the right topic starts with having a clearly defined ICP (Ideal Customer Profile). You need to have a clearly defined target audience so you can tailor the content to that group.

If you don’t know where to start, consider who your dream prospects are or the people that you serve really well today. These may be different. Do you have a specialty or are you an authority on a specific area? (Check out this blog for more on building an ICP). Once you have your ICP developed, you have the foundation for choosing a topic that will resonate with the crowd.

You must step inside the minds of your clients when deciding on your event flow. This will vary depending on who is invited. If your ICP is older folks who are already retired, perhaps a shorter event, mid-day with lots of breaks is necessary. If your ICP is business owners who are trying to scale, consider having an evening event with cocktails and a designated time for networking.

Ultimately, you want people walking away from your event feeling confident that you are the right person to help them manage their wealth. Creating a perfect-fit event can be an effective and fast way to build this trust. This blog from Kitces is an important reminder that clients ultimately want someone who can help them reach their goals. If you target everyone, you are targeting no one. Build an event that is specific enough to the attendee that they leave the room feeling confident your firm is the one to help them achieve their goals.

5. Follow Up and Lead Nurturing

Congratulations! You made an investment in prospecting, the event was a success, and the attendees left satisfied with the content and curious about how you can help them. What next?

Your follow-up plan can be what turns warm leads into new clients.

First, make sure you collected prospect information at the event. Have a sign-in sheet (or a person working a sign-in station) to verify contact information and provide name tags. These name tags will help facilitate conversations between attendees and be an easy way for the team to take notes on specific questions and details that each prospect shares.

Second, send personalized follow-up communications after the event. Since you collected key information about them at the event, you can make your follow-up more personal. You can also use tools like Catchlight to tailor your message. Personalize each message based on estimated life events or demographic information, like if they have children in the home and their age.

Personalized messages are expected these days. According to McKinsey and Company, 71% of consumers expect personalized interactions, and 76% feel frustrated when this does not happen. [1]

Personalization does not just mean including their first name in the body of the email. Personalization can drive high engagement when the right message is delivered at the right time to the right person. Over half (56%) of consumers say they will become repeat buyers after a personalized experience, a 7% increase year-over-year. [2]

Again, it all starts with ICP (Ideal Customer Profile). If you know this, you can segment your event attendees and add them to marketing campaigns and email nurtures that can elicit engagement.

A Strong ICP is the Key

There is a lot to remember when setting up an event, and the details are always important for in-person interactions. You can make events feel more manageable and successful if you define your ICP, design an event that speaks to that ICP, and follow up strongly with those top prospects.

If you’re interested in seeing how Catchlight can help enhance your event strategy, set up a strategy call with our team. We are happy to show you how we can help you!

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[1] The Value of Getting Personalization Right, 2021, McKinsey

[2] The State of Personalization 2023, Twillio