10 Takeaways from the 2026 Kitces Report

If you're in the financial planning community, you've heard of Michael Kitces. If you're a marketing professional in the financial planning community, you think he's a god.

I actually had the pleasure of meeting him at the Colorado Financial Planning Association Forum this year, and all I can say is that the man is an utter delight. Even though he presented for over 3 hours straight with an amount of energy I can't imagine one person possessing, he also calmly answered individual questions afterwards like he had all the time in the world for everyone. He also had cool shoes.

But enough of my fangirling!

The 2026 Kitces Report On How Financial Planners Actually Market Their Services came out this fall and, as usual, had loads of useful information for marketing in the financial services space. Rather than make you read the entire thing, I've pulled out 10 key points that I thought you might find interesting.

And surprising.

1. Social Media Isn't Bringing in Clients. But That Doesn't Mean It's Useless.

Let's start with a statistic that's bound to get some attention.

According to the survey, 82% of financial advisors using social media reported getting zero new clients directly from it over the previous 12 months.

Social media also had one of the highest acquisition costs, with advisors spending $4.88 for every $1 of new annual client revenue generated through that channel.

So, should you delete LinkedIn? Not necessarily. Those numbers don't tell us how many prospects checked out an advisor's profile before scheduling a meeting, how many clients were reminded of their advisor's expertise, or how many referrals felt more comfortable reaching out because of an active online presence.

The lesson: Social media doesn't always get credit for bringing in a client, even when it helped influence the decision. Stop expecting every post to generate an appointment. Use social media to build familiarity, demonstrate expertise, and support relationships.

2. Your Most Expensive Marketing Resource Might Be You

The survey found that advisor time accounted for approximately 60% of total marketing costs in 2026.

You might not be writing a check to someone to create your newsletter, update your website, or develop social media posts. But that doesn't mean those activities are free. Every hour spent wrestling with your email marketing platform or figuring out what to post is an hour you're not spending with clients or prospects.

Some marketing activities absolutely deserve your personal attention, particularly relationship-building. But does your time need to be spent formatting a newsletter? Probably not.

The lesson: When evaluating your marketing budget, consider what you're spending in both dollars and hours. Outsourcing some activities may free you to focus on the work only you can do.

3. Having a Niche Is Good. Talking About It Is Better.

We've been encouraging financial advisors to identify their ideal clients for years. But the Kitces survey highlights an important distinction.

It's not enough to know whom you want to work with. Other people need to know, too.

Among advisors with a niche, those who prominently communicated it on their websites experienced 5.0% referral-driven client growth, compared with 4.1% for advisors who didn't emphasize their niche.

Think about the difference between these two referrals:

• "My advisor is great. She helps everyone."

• "My advisor specializes in helping business owners figure out what comes next financially when they're ready to sell."

The second recommendation gives someone a reason to pay attention. And when that prospect visits the advisor's website, they should immediately see messaging that confirms they're in the right place.

The lesson: Your niche should influence your website, blogs, newsletters, and social media. The more specific your messaging, the easier it is for the right people to recognize you.

4. More Marketing Channels Don't Necessarily Mean More Growth

There's always someone telling financial advisors about the next marketing platform they absolutely need to try. I've spent a lot of time in meetings with clients who've heard about the next "big" thing and are ready to immediately hop on board.

Interestingly, among advisors who participated in both the 2024 and 2026 surveys, the typical number of marketing tactics used dropped from five to four. The research suggests that spreading yourself across too many tactics before making your existing ones effective can undermine your results.

The lesson: For a small financial planning firm, a strong website, consistent newsletter, targeted content, and thoughtful referral strategy may accomplish more than trying to maintain a presence everywhere. Before adding another marketing tactic, ask whether you're getting the most out of the ones you already have.

5. Content Marketing Works Better When It Has a Purpose

The survey found that content marketing results varied considerably. Blogging had a revenue acquisition cost of approximately $1.62 for every $1 of new annual client revenue. But high-growth firms had an overall content acquisition cost of approximately $1.36, compared with $5.47 for other firms. That's a significant difference.

Let's look at two blog topics:

• "Five Things to Know About Retirement Planning"

• "How Can Women Business Owners Save for Retirement When Their Income Changes Every Month?"

Both could contain useful information. But the second speaks directly to a particular audience with a recognizable problem. It's also the kind of question someone might search for online.

The lesson: Content doesn't always need to produce an immediate lead. It can educate existing clients, support referrals, and demonstrate expertise. Publish content that answers your ideal clients' questions and supports your broader business goals, rather than creating content simply to fill a calendar.

6. SEO and Online Reviews Are Getting More Attention

While some content marketing tactics declined in use, the survey found growing interest in search engine optimization (SEO) and third-party review platforms.

The percentage of advisors using third-party review sites increased from 8% in 2024 to 13% in 2026. SEO adoption also increased.

What happens after someone receives a referral? They Google you, visit your website, check LinkedIn, and maybe read a few articles before reaching out. That research may also involve AI search tools.

Although the survey doesn't measure AI search's effect on client acquisition, the implication for your overall digital presence is clear: prospective clients need to be able to find you and quickly understand who you help. Online reviews and testimonials may also play a role, subject to SEC Marketing Rule requirements and firm compliance policies.

The lesson: Your website shouldn't just exist. It should help people discover your business, understand your expertise, and feel confident about taking the next step.

7. Referrals Still Rule. Your Digital Marketing Should Support Them.

For all the attention given to digital marketing, financial planning remains a relationship business. Among high-growth practices, the survey found that 32% of new clients came from existing client referrals, 27% through other trusted sources such as centers of influence, and 26% through direct trust-building with prospects.

That's 85% of new clients coming through trust-based channels.

But referrals and digital marketing aren't competing strategies. Your website, social media, and educational content can reinforce the confidence someone already has after receiving a recommendation.

The survey also found that 37% of high-growth practices used centers of influence specific to their target markets, compared with 21% of other practices. In other words, relationships with a few professionals who serve your ideal clients may be more valuable than collecting business cards from everyone in town.

The lesson: Build relationships with the right referral partners, and give them useful content that makes it easier to understand when and why to recommend you.

8. Spending More on Advertising Doesn't Guarantee Better Results

Here's another interesting finding. Advisors reporting successful advertising campaigns had median spending of approximately $8,330, compared with $12,625 among those whose advertising wasn't successful. Successful advertisers also devoted a larger percentage of their budgets to digital channels.

That doesn't prove digital advertising is always better, but it does suggest that spending more isn't necessarily the answer. Before paying for another sponsorship or ad campaign, ask who you're trying to reach, what message will resonate, and what you want people to do next.

The lesson: A targeted campaign with a clear purpose may be more useful than a larger campaign designed simply to get your name out there.

9. Marketing Efficiency Is Improving. That's the Real Story.

Perhaps one of the most encouraging findings is that marketing became more efficient overall. The survey found that the typical practice's revenue acquisition cost dropped from approximately $1.08 in 2024 to around $0.70 in 2026 for every $1 of new annual client revenue. Advisors were spending less time on marketing, narrowing their tactics, and becoming more efficient at acquiring clients.

That's an important lesson for firms planning their next marketing budget.

The lesson: You don't necessarily need to spend more or add another channel. You may get better results from improving your website, refining your messaging, or making your existing content more relevant. Sometimes the biggest opportunity isn't starting something new. It's making what you're already doing work better.

10. Your Best Marketing Opportunities Might Be With the Clients You Already Have

The Kitces survey reinforces just how important existing client relationships are to business growth. Among high-growth practices, 32% of new clients came from existing client referrals.

That's a pretty compelling reason to think about marketing beyond attracting strangers. Your current clients already know you, trust you, and understand the value you provide. But that doesn't mean they're always thinking about you when a friend mentions retirement concerns or a colleague talks about selling a business.

Consistent newsletters, helpful blogs, and relevant social media posts keep your expertise visible. They also give clients something useful to share when someone in their circle could benefit from financial advice. And here's something worth remembering: Marketing to existing clients isn't necessarily about asking for referrals. It's about continuing to demonstrate the value of the relationship.

The lesson: Don't focus your entire marketing strategy on people who haven't met you yet. Your existing clients can be one of your strongest sources of future growth, and thoughtful, consistent communication helps keep those relationships strong.

Still With Me? Here's One More Thing

As I was eating lunch with Michael Kitces at the Forum in August 2026 (I feel so important just saying that), a group of us asked him how he and his team measure their own marketing success. To sum it up, it was less about website traffic and more about the action that someone took.

In other words, he was more focused on clicks - to blogs, lead generators, etc. - than he was on visitor traffic and bounce rate.

That is a simple - but brilliant - distinction, and if you were to take that mindset and run with it, it would really clarify your marketing strategy. It's all about value and ensuring people are finding what they need when they visit you in the digital marketing world (websites, email marketing, social media).

Now...go forth and market! Or make an appointment with me.