In this Q&A, Jackie Wilke, Vice President and Advisor Consultant at First Trust, shares her insight and expertise on marketing, technology, and women in the financial services industry.
How much of marketing involves education?
Educational marketing is a core component of marketing because people don’t know what they don’t know. It’s simple, but it’s not always easy. When you share your expertise, you build your credibility and authority. You differentiate your brand and start to attract your ideal client; not chase them. The foundation for educational marketing is “who” and “why.” Who is this for? Why is this relevant for them? For example, if I’m focusing on family enterprises, is what I’m doing or saying relevant to them?
How important is it for RIA and wealth management firms to articulate their values?
In a world of democratization and commoditization, we’re in the human-to-human business. People often do business with people they like, know, and trust. The more you highlight who you are as a person, not just as a professional, the greater professional contrast you can create. Your values, goals, mission, and your “why” are all part of your brand. At First Trust, our values are part of our foundation. We’re all-in on the financial professional and stive to be the best partners we can be to them.
Digital solutions and tools are the future, and the future is now, but is the industry doing a good job of keeping up with technology?
Some are, some are not. Those who embrace technology, including artificial intelligence, will continue to gain an advantage over those who don’t. When I’m working with a professional or a team, I look at tech in two categories: practice management and reach.
On the practice management side, technology creates efficiency and scale, giving you more time to spend on what drives value, like relationships and client experience. It’s also expected by many younger generations. They’re digital-first and many prefer to work with tech-empowered practices.
On the reach side, the modern investor cares less about where you are, and more about who you are. Technology can be a catalyst for building deeper relationships with existing clients and prospects by consistently showing up where they are (i.e. email, LinkedIn, video) with meaningful content. This can foster the feeling of connection and closeness regardless of geography.
What is one item that wealth management professionals regularly misunderstand?
What’s best for you isn’t always best for someone else. It’s tempting to compare yourself to others, but you have to stay true to what’s best for you and your clients. Gather ideas, stay curious and be inspired by others. If you’re going to be in competition with anyone, be in competition with who you were.
Women are still a minority in financial services. Do you have any thoughts on how we, as an industry, can bring them in? What other advice do you have for women in the industry?
I’m a second-generation woman in the financial services industry (my mom is in fin serv) and it’s still a boys’ club, in my opinion, though we’re getting better. I can’t speak for all women, but I think one of the biggest challenges to attracting and retaining women is exposure. Exposure to roles, companies, career paths, salaries, education, resources, people, and solutions. The more women know about our industry, the better we can help them find their fit. We need to continue to create resources, communities, and policies that keep them in the industry.
I’ve been very fortunate to have support and advocacy from male coworkers at my firm, but at the end of the day, you have to be your best champion and cheerleader. Don’t hesitate to highlight your accomplishments, put your hat in the ring, get a seat at the table — or build your own table! If you’re a woman who has risen through the ranks, never forget to lend a hand down to lift another.
Be yourself — that’s your biggest asset. Go to where you’re valued, network, find a mentor and/or community. If it’s not at your firm, you might find it on LinkedIn or through an industry organization.
Learn more about Jackie Wilke and First Trust.
