Weekend Content for New Planners

Weekend Content for New Financial Planners (April 15-16, 2023)

“Weekend Content for New Financial Planners” is a collection of articles, podcasts, videos, etc. that I’ve been consuming regarding breaking into financial planning, industry trends, career development, and more.

Ric Edelman with the principles behind his exceptional early-career growth, a number of innovative trends that call into question traditional financial planning assumptions, and more [Podcast]:

“People used to ask me about my marketing strategy. My attitude was: ‘I’m not a marketer. I have never engaged in marketing in my entire 37-year career. I am an educator.’ I impart financial education and I do it for free. I use the mass media to disseminate my content. Somebody hearing or being exposed to that is intrigued by that and decides that they want to reach out to me? Then, wonderful. I’ll make it easy for you to do that by letting you know my phone number, my website, and my mailing address.

But, I don’t really consider myself a marketer. That’s the difference. Many people are spending all of their time selling themselves and selling their product. That comes off as a salesman. That comes off as an infomercial pitchman. That’s a turnoff. Nobody wants that.”

Are You Preparing Your Clients To Live Past 100? With Ric Edelman [Matt Halloran, The Top Advisor Marketing Podcast]

Robert Sofia touches on what advisors get wrong with their messaging, how to balance adding creativity to your marketing while also being professional, and more [Podcast]:

“They’re using buzzwords and they’re using whatever they hear in the industry is important as a differentiator. Or what they should be doing and they’re putting that out in their marketing. What they’re forgetting, and what the character in our video is obviously forgetting, is that people who we are trying to attract as clients usually don’t speak the way that we speak inside the industry. So, the idea of that video is: stop using the jargony, fluffy, industry language. And talk to people like a human being.”

Human-First Marketing With Robert Sofia [Ross Marino, SHIFT With Ross Marino]

Carl Richards with two factors to optimize around to turn new clients into lifelong clients [Video]:

Building Trust With Clients: The Key To Long-Term Success In Financial Advising [Carl Richards, The Society Of Advice]

The latest Morningstar research on the reasons why clients fire their advisors [Article]:

“’The quality of financial advice and services was most frequently cited as the reason for firing a financial advisor, but the quality of the relationship and cost also appeared more often than many of the other categories,’” Morningstar stated in the report. “’This suggests that although there are recurring themes for why advisors are fired, assumptions as to why investors fire their advisor may be overly focused on returns.’”

Quality Of Advice Most Common Reason For Firing An Advisor [Diana Britton, WealthManagement.com]

Morgan Housel on what actually makes people happy and the importance of setting appropriate expectations [Article]:

“A weird thing in life is that everyone strives for a good life because they think it will make them happy. But what actually brings happiness is the contrast between what you have now and whatever you were just doing.”

Money is a lot like this, too. The richest you’ll probably ever feel is when you get your first paycheck, and your bank account goes from $5 to, perhaps, $500. The contrast that generates might be greater than going from $10 million to $20 million. Going from nothing to something is so much more powerful than going from a lot to super a lot.

The contrast, not the amount, is what makes you happy.

What Makes You Happy [Morgan Housel, Collaborative Fund]

Which was your favorite takeaway? Comment below!

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