Weekend Content for New Planners

Weekend Content for New Financial Planners (August 19-20, 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.

How to quickly build and maintain trust with clients [Article]:

“A study conducted by the Harvard Business Review assembled two groups of people and instructed them to have one-on-one conversations within their respective groups. The first group was told to ask no more than four questions within a 15-minute period. The second group was told to ask at least nine questions in the same amount of time.

Feedback from the participants produced an incredibly valuable insight: The participants in the second group reported feeling significantly higher levels of trust, likeability and connection with their discussion partners.

Asking more questions—especially those that encourage people to open up—makes people like you and trust you more.”

Building Trust Within Our Clients [Matt Reiner, WealthManagement.com]

Brendan Frazier with an email approach proven to win clients and earn trust (with 2 example templates) [Podcast]:

“It’s a fairly large firm, so they do a lot of data tracking. What they eventually found out was that they could pinpoint the number one predictor of the likelihood of a prospect becoming a client: ‘Did they receive the Life Map Meeting Recap email?’

The key was that it was using the client’s own words. They weren’t in there putting boilerplate answers and boilerplate responses. For example, under the ‘Goals’ section it wasn’t: ‘Retire by Age 50.’ It was exactly how that person described their retirement. Or exactly how they described what they wanted retirement to be. …They hear their own words repeated back to them and that instantly makes them feel like they’ve been heard and they were understood. Because it tells them and it signals to them that you were listening and that you valued what they had to say.”

The Email That Wins Clients And Their Trust [Brendan Frazier, The Human Side Of Advice]

ICYMI: To increase productivity, striving to “do more” is often our go-to approach. Carl Richards on how creating a “Stop-Doing” list has helped him create more enjoyable work and boost productivity [Video]:

Creating A Stop-Doing List For Increased Productivity And Freedom [Carl Richards, The Society Of Advice]

How to make suggestions to senior advisors that actually get buy-in [Article]:

“There are many people who take offense when a new idea is raised because they think it means what they have been doing, or the way they have been doing it, is wrong. Defensiveness and a sense of ‘we’re doing just fine, thank you!’ can arise. The new idea (even if a very good one) gets pushed to the side.

You may also inadvertently be giving ideas in a way that diminishes the work the firm has done to date. I find this a lot when new leadership takes over; there is a disregard for what’s had to happen to grow the firm and get it to where it is today. I understand Tom is senior to you, but try prefacing any comments with compliments about what is working and what you admire about the firm. Don’t be disingenuous. I am going to guess you see some things working really well, and these could be focused on in conversations as you recommend new ideas.”

How Can I Make A Suggestion Without Getting “Shut Down?” [Beverly Flaxington, Advisor Perspectives]

If you’ve ever considered adding a second niche, tactics for marketing to both simultaneously [Video]:

How Do I Create LinkedIn Content That Speaks To Our Different Types Of Clients [Candice Carlton, FiComm Partners]

If you’re designing a study schedule for an industry designation or license, when using a “Minimal Habit” is most effective [Article]:

“Spacing refers to the spacing effect, a well-studied phenomenon. We retain information better when there are longer intervals between when we are exposed to it than when the same amount of exposure happens over a shorter amount of time. Thus, seeing a vocabulary item ten times over ten days will result in more durable memory than seeing it ten times in one hour. By drawing out learning over very long timeframes, minimal habits can potentially take advantage of the spacing effect and, thus, result in more durable memories than crammed schedules.

The second advantage of minimal habits is that they’re convenient. As I mentioned in the previous essay, it feels mean to discourage people from cultivating minimal habits since the alternative is often to do nothing. Life is busy, learning is hard, and sometimes you only have ten minutes to spare.”

When Are Minimal Habits Useful For Learning [Scott Young, ScottHYoung.com]

Which was your favorite takeaway? Comment below!

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