Weekend Content for New Planners

Weekend Content for New Financial Planners (December 17-18, 2022)

“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.

Michael Kitces and Alan Moore talk all things entrepreneurship including [Podcast]:

  • The reality of the highs and lows of entrepreneurship and the importance of developing coping skills and support systems
  • When they recommend to start your own firm (and when not)
  • Advice for new planners on how to evaluate opportunities within firms when interviewing
  • And more…

“[Moore]: There are two schools of thought when it comes to entrepreneurship that really are in the academic world when it comes to entrepreneurial research.

One, is that I am walking along, I see a great idea, I pick it up and I walk with it. And I turned that to a successful business. That’s where most of the research on entrepreneurship has really focused. The second school of thought, which is really just now sort of coming about is that entrepreneurship is much more about expression of creativity. It’s art. It’s not pick up an idea.

That really resonates with me because, in the traditional sense, I’m not an artist: I can’t sing, I can’t dance, I can’t draw, and I can’t paint. But the cool thing about entrepreneurship, for those who are willing to suffer the highs and the lows that come with it, particularly the lows, is that you really get to sort of have a blank canvas and just paint on it.”

Entrepreneurship And Building Successful Businesses With Alan Moore And Michael Kitces [Caleb Brown, New Planner Recruiting]

Carl Richards shares the easiest way to get started with content marketing (hint: it’s leveraging something you are probably already doing) [Video]:

The Easiest Way To Get Started With Content Marketing [Carl Richards, The Society of Advice]

And with the introduction of technology like ChatGPT, producing everything from blog posts to tweets is getting a lot easier [Article]:

“ChatGPT is exciting because it can write marketing articles. And it can do it in a matter of minutes. For example, I asked it to ‘write a 750-word article on the taxation of RSUs,’ and it produced a decent article in less than two minutes. When I showed the article to one of my financial advisor clients, he said the content was equivalent to what the junior advisors in the firm would have produced. That’s remarkable for a technology in its infancy.”

The Incredible “Silver Bullet” Potential Of ChatGPT [Kristen Luke, Advisor Perspectives]

Elements’ Head of Community Abby Morton on how women in the industry who are either mothers, or want to be, can better advocate for themselves [Article]:

“One of the biggest challenges for many women in the workforce, the finance industry not excluded, is balancing the responsibilities of work and motherhood all while fighting harmful cultural narratives about what a woman’s life should look like once she becomes a mother.”

From Mom To CFP To The C-Suite—Finding Your Path [Abby Morton, WealthManagement.com]

The difference between risk tolerance and risk perspective along with a framework for how to manage when the two are at odds [Article]:

“In times like this, it’s easy to question one’s long-term investment strategy. Hindsight bias would have us believe that we saw this coming and should therefore trust our gut about what comes next. Looking forward from this new vantage point, the future may look riskier than it did when initially setting an investment course, and a change may seem like the prudent move. We may tell ourselves that when we first set out, we made some broad assumptions, but now we have more information and therefore can better judge what’s on the horizon.”

When It Comes To Risk, It’s Dangerous To Trust Your Instincts [Sarah Newcomb, Morningstar]

A great reminder about purpose and time [Article]:

“Because everything I write isn’t really about money, it’s about time. Time with your loved ones. Time to enjoy yourself. Time to live the life you want. In the end, all of your money will be converted back to time anyways. If not now, then later. And if not by you, then by someone else. Possibly after you’re gone.”

The Gift Of Time [Nick Maggiulli, Of Dollars And Data]

Which was your favorite takeaway? Comment below!

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