MSP's Ultimate Guide To Winning Financial Services Clients

If your MSP is looking for a vertical that ticks almost every box, then financial services might be the one… here’s why. Also this week, the “trust transfer” trick of borrowing credibility from people prospects already trust, and my guest built an MSP to $143m exit and understands why MSP founders get stuck.

Welcome to Episode 355 of the MSP Marketing Podcast with me, Paul Green, powered by the MSP Marketing Edge.

Deep dive into winning financial services clients

If you’re looking for a vertical that ticks almost every box – recurring revenue, long-term loyalty, genuine willingness to pay for good IT, and a compliance pressure that never goes away – then financial services might be the one.

Right now, I want to do a deep dive into winning wealth managers, independent financial advisors, mortgage brokers, and insurance brokers as clients for your MSP, because this is a sector that is genuinely crying out for MSPs who understand their world. Let me show you how to become one of them.

Let’s break this down into six easy parts…

Why is this vertical so attractive?

Well it’s pretty simple really, it’s very stable, very profitable, long-term businesses. These kind of financial services clients don’t tend to disappear overnight, and they also have a very high dependency on technology. You think about it, everything they do involves data, communications and client records. So they are genuinely willing to pay for high quality IT because for them, the cost of getting it wrong is huge, just huge. It isn’t just that the technology is needed by them, it is absolutely mission critical. That ticks a big box for us.

But also, and this is huge as well, compliance pressure. For these people, we have no idea what the compliance pressure must be like for them because they have to operate under an increasingly complex and burdensome set of rules. There’s always new rules coming in. It’s very rare that someone comes in and says, “Let’s have fewer rules for financial services.” That just doesn’t happen. So the norm for them is all this compliance. And of course, a lot of the technology is there to make sure that they stay compliant. I’ve been digging around for some stats and I found that 96% of financial firms now allocate more than 5% of their total spending budget to IT and cyber security, and that’s going up. They take technology really, really seriously. And that means that once you’re in, you’re in. Because as we know, for an ordinary B2B company, switching an IT pro