Weekend Content for New Planners

Weekend Content for New Financial Planners (December 18-19, 2021)

“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.

Workweek content creator Nicole Casperson touches on all things disruption including [Podcast or Video]:

  • her professional decision to leave traditional financial media to showcase her personality and interests
  • how women are well poised to leave their mark on a male-dominated financial services industry
  • the traits advisors need to leverage new technologies and create a better client experience

“It’s really about being open-minded. It’s about exploring technologies outside of just the ones that you’re already using. Or figuring out among the ones you’re using what makes the most sense in terms of account aggregation and integration.

Also, being able to understand technologies. Go and play around with some technologies; download some apps. Understand what these are like so that you can connect with your client that is interested. Whether it is that trading or investing app or the robo-advisor or its crypto.

Access and personalization are it. Are everything. Client experience is everything. If you don’t, there are more and more advisors and RIAs out there serving certain niches. So, if not you, it will be someone else.”

The Coming Disruption [Justin Castelli, The Advisor Of Tomorrow]

Mindy Diamond with a list of questions to plan for growth in the new year [Article]:

“Yet we are witnessing a growing trend that indicates advisors—regardless of whether they practice as employees or independent business owners—are thinking more about their businesses as ‘businesses.’ They’re looking beyond the short-term and taking time to evaluate what goes into growing a sustainable business for the long-term—such as scalability, succession planning, profitability, platform and technology, and whether their firm can support all they want to achieve and then some.”

Eight Questions For Advisors To Optimize Their Business For Growth [Mindy Diamond, WealthManagement.com]

Morgan Housel with some additional questions [Article]:

“They’re relevant to everyone, and apply to lots of things:

Who has the right answers but I ignore because they’re not articulate?

What haven’t I experienced firsthand that leaves me naive to how something works? As Jeff Immelt said, ‘Every job looks easy when you’re not the one doing it.’

Which of my current views would I disagree with if I were born in a different country or generation?

I Have A Few Questions [Morgan Housel, Collaborative Fund]

Kristin Shea on the importance of “Neuromarketing” and practical tactics to implement [Podcast]:

“One office that I work with, they’re up in the Northeast. Ten years ago, they were bringing on about $12 million a year in new business. They’re firm-wide closing rate was 2%. Oftentimes, what they ended up hearing was, ‘I have to think about it.’  It’s kind of like the bane of an advisors existence.

Fast forward to today. They’re bringing on over $200 million  a year with an 80% close rate across the firm. ….Really incredible. But one of the first things that they did, that changed the trajectory of their firm, three things, I’ll reference the third one later on. But they took two big steps to make what they were proposing to their prospective clients very tangible.

It’s very tangible. First of all, they trademarked their process. They named their trademarked their process. So it’s not kind of a, ‘Well, we do this thing? And not that thing. And we’re going to build a financial plan and it’s going to go all the way out into the future, and it’s going to include this thing or that thing. … It’s trademarked, so it’s packaged. It becomes something that is tangible.”

The Six Pillars Of Neuromarketing [Dr. Daniel Crosby, Standard Deviations]

Megan Carpenter with how to determine whether your niche is unique enough [Article]:

“But there’s still this common misconception that a financial advisor has to be all things to all people all the time. I’ve had conversations with some advisors who are reluctant to put specialty stakes in the ground out of fear that they would be labelled a certain way and lose out on a wider range of clients. Contrary to popular belief, however, niche marketing does not dilute the firm’s overall brand; in fact, defining niches – and showcasing the strengths of your people in return – means establishing core specialties that easily help differentiate the firm.”

Niche Marketing: Is Your Unique Value Proposition Actually Unique? [Megan Carpenter, WealthManagement.com]

Which piece of content did you like? Comment below!

Follow me on social media for the latest updates:

Leave a Reply

Your email address will not be published. Required fields are marked *