You're researching digital marketing partners, and you've probably noticed something frustrating: nobody wants to talk about price. Every agency website says "contact us for a custom quote," which really means "let us get you on a call before we tell you anything useful."
We think that's a waste of your time.
At GK3 Capital, we've worked with asset managers ranging from emerging firms to those with tens of billions in AUM. We know what these engagements actually cost because we've scoped and priced hundreds of them. In this article, we'll break down exactly what you can expect to pay for ongoing, outsourced digital marketing on a retainer basis. Real numbers, not ranges so wide they're meaningless.
By the end, you'll know whether your budget aligns with what quality digital marketing actually costs, what drives the differences between pricing tiers, and how to think about the investment relative to alternatives like building an in-house team.
For most asset managers investing in a full-service digital marketing retainer, you're looking at $8,000 to $50,000+ per month, depending on the scope and complexity of your program.
Here's how that breaks down:
These aren't arbitrary tiers designed to upsell you. The investment level is driven by complexity: how many products you're marketing, how many different buyer personas you're targeting, and how many channels you're actively running campaigns across.
A firm marketing a single ETF to RIAs through email and LinkedIn requires fundamentally different resources than a firm marketing five strategies across ETFs, SMAs, and alternatives to both RIAs and institutional consultants through paid search, programmatic display, organic social, email nurturing, and event marketing.
The expertise you're accessing is the same at every tier. The scope is what changes.
This is where many firms get surprised, often pleasantly. A quality retainer isn't just "someone posts on LinkedIn for us." It's a system that integrates strategy, content, technology, and sales enablement.
Here's what a typical retainer includes:
Strategy & Planning
Content & Creative
Technology & Platform Management
Website & Conversion
Sales Enablement
The specific mix depends on your tier and priorities, but the point is this: you're not buying marketing tasks. You're buying an integrated revenue system.
On top of your agency retainer, budget for your marketing technology platform. We typically recommend HubSpot because it's the most capable all-in-one solution for asset management distribution, though we work with other platforms as well.
HubSpot costs to expect:
|
HubSpot Tier |
Monthly Cost |
Best For |
|
Professional |
$1,000 - $1,500 |
Most asset managers starting out or scaling digital |
|
Enterprise |
$2,000 - $3,000+ |
Firms with complex reporting, multiple teams, or advanced automation needs |
So if you're budgeting for a Growth-tier retainer, your all-in monthly investment looks more like $16,000-$18,000/month when you include the platform.
This is a cost some agencies conveniently leave out of their proposals. We'd rather you know the full picture upfront.
Four factors determine where you'll land on the pricing spectrum:
Marketing a single flagship fund is fairly simple. Marketing a lineup of eight products, each with different value propositions, competitive sets, and target audiences, requires significantly more content, more campaigns, and more strategic coordination.
Are you focused purely on RIAs? Or are you also targeting wirehouse advisors, institutional consultants, and family offices? Each persona requires tailored messaging, different channels, and separate nurture tracks.
A Foundation engagement might focus on email marketing and organic LinkedIn. These are high-impact, efficient channels that don't require media spend. A Growth or Enterprise engagement adds paid social advertising, Google Ads, programmatic display, and potentially event marketing or ABM campaigns. More channels means more creative, more management, and more optimization.
A firm looking to build a steady foundation over 18 months has different needs than one preparing for a major product launch in Q2 or trying to rapidly scale AUM before a strategic event. Aggressive timelines require more resources.
Here's where the math gets interesting.
When evaluating whether to outsource or build internally, most firms make the mistake of comparing an agency retainer to the cost of a single marketing hire. But that's not an apples-to-apples comparison.
To replicate what you get from a full-service agency retainer, you'd need to hire:
That's six roles minimum. And you'd still need someone to manage them.
Let's run the numbers:
Even at the Enterprise level, you're typically paying a fraction of what it would cost to build the equivalent capability internally. And you're getting specialists in each discipline, not generalists trying to wear six hats.
There's also the question of whether you can even find the right people. Marketing talent that understands both modern digital execution and financial services is genuinely rare. When you hire an agency that specializes in your industry, you skip the learning curve entirely.
The question isn't "can we afford $15K/month?" It's "what does that investment need to produce to be worthwhile?"
Let's frame it simply.
If your average new advisor relationship represents $10 million in AUM potential, and your fee on that AUM generates $50,000-$100,000 in annual revenue, the math gets clear quickly.
At a $180,000 annual investment (Growth tier), you'd need that marketing program to source two to four new meaningful advisor relationships per year to break even. Everything beyond that is profit.
For context, a single external wholesaler costs $250,000-$400,000 annually in salary, benefits, travel, and expenses. And the traditional wholesaling model is becoming less effective as advisors increasingly do their research online before ever taking a meeting.
Digital marketing doesn't replace wholesalers. It makes them dramatically more effective by warming up prospects before the call and keeping your firm visible between meetings.
Outsourcing is likely right for you if:
Outsourcing may not be right for you if:
There's also a hybrid approach worth considering. Some firms start with an agency to build the foundation and generate momentum, then gradually bring certain functions in-house while keeping the agency engaged for strategy and specialized execution.
Most agencies won't tell you what they charge until they've got you on a call. We think that's backwards.
If our pricing doesn't fit your budget, it's better for both of us to know that upfront. And if it does fit, you can come into a conversation already informed. That leads to better discussions about scope, goals, and fit rather than awkward budget negotiations.
We're also confident in the value we provide. We're not the cheapest option out there, and we're not trying to be. What we offer is genuine financial services expertise, a full team of specialists dedicated to your account, and an integrated approach that connects strategy, content, technology, and sales enablement into a system that actually drives AUM growth.
For less than the cost of one external wholesaler, you can build a digital distribution engine that works around the clock.
What's the minimum engagement to get started?
Our minimum retainer is approximately $8,000-$10,000 per month. This gets you a Foundation-level engagement focused on one primary product or strategy, one buyer persona, and core channels like email and organic social. It's designed for firms that are earlier in their digital journey or want to prove the model before expanding.
How long are your contracts?
We typically work on 12-month agreements. Digital marketing takes time to build momentum, and you won't see full results in 60 days. A 12-month commitment ensures we have enough runway to execute properly and demonstrate meaningful outcomes.
Is HubSpot required?
No, but we strongly recommend it. HubSpot is the most capable all-in-one platform for the type of integrated marketing and sales enablement asset managers need. We can work with other platforms like Salesforce Marketing Cloud or Pardot, but in our experience, HubSpot delivers better results for firms in this space.
What results can we expect?
It depends on your starting point and goals, but most clients see measurable improvements in website traffic, lead generation, and advisor engagement within the first 90-180 days. The bigger wins (pipeline contribution and AUM growth attribution) typically become clear in months 6-12 as campaigns mature and sales cycles complete.
How much of our time will this require?
Less than you'd expect. We handle execution. You'll need to participate in onboarding, provide periodic input on strategy, and ensure your team follows up on leads we generate. Most clients spend 2-4 hours per week on marketing collaboration once we're up and running.
Pricing is the first question. The next is understanding exactly what you'd get for that investment and whether it aligns with your goals.
Our Services Catalog breaks down what's included at each engagement level: specific deliverables, timelines, and what success looks like. It's the most detailed look at how we work that we can put on paper.