Date of Conferral

2018

Degree

Doctor of Business Administration (D.B.A.)

School

Business Administration

Advisor

Diane M. Dusick

Abstract

Independent financial advisors face challenges with successful marketing strategies as competition from web-based resources, large U.S. financial services, and wealth advisors' corporations increase. The purpose of this exploratory case study was to understand financial advisors' perceptions, experiences, and marketing strategies to improve their companies' sustainability by targeting a broader population base, including minorities, who need assistance with retirement planning strategies. Consumer culture theory was the conceptual framework for this study. Purposeful sampling was the basis for selecting 7 financial advisors from the mid-Atlantic region of the United States for face-to-face interviews. Semistructured interviews with open-ended questions were used to identify financial advisors' marketing strategies to support financial stability. Secondary sources for data collection included documented client testimonials and reviews of company data. Yin's 5-step process of compiling, disassembling, reassembling, interpreting, and drawing conclusions was used; 6 themes emerged from the data: (a) building a referral system, (b) hosting events, (c) implementing community involvement, (d) knowing minorities' behavioral language, (e) providing financial literacy tools, and (f) maintaining effective marketing strategies. Implications for social change include financial advisors' strategies for marketing retirement planning strategies to the U.S. minority subcultures who are not solicited by financial advisors.

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