For the commercial writer, few sectors present more challenges than finance. You’ll find quite a few copywriters who have established a lucrative niche in this industry – for very good reason. Well, a couple of good reasons actually.
The main one is that compliance with tight regulations is very much a part of the life of the finance copywriter. There are very strict regulations to do with how companies and organisations promote themselves. Writers must be thoroughly familiar with the rules. See this from the FCA (Financial Conduct Authority):
“A firm or other provider must take reasonable steps to ensure that a communication, financial promotion or payment service or electronic money promotion is fair, clear and not misleading.”
Industry challenges for the financial copywriter
Which brings us to the second consideration. For a variety of reasons, many finance sector companies are having to adapt not only to change, they are also coming under considerable pressure to show compliance to a growing range requirements from regulators. If a copywriter has been working in the sector for some time, they’ll be familiar the entire financial landscape and all of these particular challenges, making it relatively straightorward for companies to brief their copywriter.
The work of the financial copywriter
Typical marketing work will involve the development of sales copy, marketing emails, web pages and blog posts. A number of writers work in the area of thought leadership, ghost-writing articles for industry leaders in online or print journals – an activity which has a strong crossover into PR.
The range of content is also vast, from new financial product launches, investment opportunities and pensions.
ESG copywriting – helping create a more sustainable future
A new and rapidly-growing areas is ESG for thought leadership. Regulators are quite rightly making big demands of companies in the finance sector. While this is good news for the planet, new regulations alone are not going to guarantee greener investing. It is the investors themselves who are putting pressure on the asset management sector to make sustainable investments. This is a fertile area for the ESG specialist copywriter, helping banks, asset managers and investment companies to show they are ‘keeping it real’ – and not just engaging in ‘greenwashing’.
Skilled copywriters will be able to comply with all regulations placed upon them and still turn deadly-dull investment reports into credible and engaging stories which connect with target audiences, ensuring sustainability campaignsachieve maximum success.
Financial benefits for financial copywriters
The finance industry can be a lucrative niche for freelance copywriters. It is generally acknowledge in copywriting circles that having a niche brings the opportunity for higher fees. The reason is fairly obvious. Clients will understandably see value in writers with proven expertise in their field. And within the finance industry, those fees can be higher again – reflecting the generally high payscales within the sector. But as intimated at the outset, there is considerable work that needs to be invested.
Good copywriters are able to get themselves up to speed in just about any industry or field. It goes with the territory. But while there are great opportunities for those prepared to work hard at creating an ‘in’ for themselves, it is not for everyone – and many would regard financial copywriting as being particularly dull or boring.
But ‘one man’s meat…’ etc. For freelance copywriters with the enthusiasm and resources to create that niche, there is a wealth of opportunity and – within reason – opportunity for wealth.