What marketing should a new advisory practice build first?

Four things, in order, and none of them is advertising:

• A clear description of the intended client. One or two sentences naming a specific group and situation. Everything downstream depends on this, and without it the website cannot be written, referrals cannot be routed, and content has no audience.
• A website covering compensation, minimums and the first meeting. Those three answered questions do more than any amount of persuasive copy, and they are the questions prospects are actually researching.
• Compliance review of everything published. Built into the timeline from the start rather than added at the end. Practices that treat review as a final step end up rewriting rather than reviewing.
• Two or three professional referral relationships. Accountants, tax advisors or attorneys serving the same client type. Start by giving something useful before asking for anything.

Broader marketing, content programs and paid channels are more effective once those exist, because each amplifies positioning rather than substituting for it.

Expect the referral channel to take months to produce. Build it before you need it.

This is general marketing information, not compliance guidance. Requirements differ by registration type, firm and jurisdiction, and change over time. Confirm anything in this area with your compliance function before acting on it.