Weekend Content for New Planners

Weekend Content for New Financial Planners (January 14-16, 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.

Define Financial founder Taylor Schulte on [Podcast interview begins at 8:35-mark]:

  • The biggest mistakes new financial planners make
  • The big trends he sees with new financial planners
  • The future of the planning industry
  • And more…

“I think one of the biggest mistakes that planners make—and I can certainly fall into this trap as well—as we’re going through difficult times, clients are asking really good questions or they’re venting to you, and we want to solve their problem right away, we want to answer their question, we want to maybe predict the future.

In these situations, when we’re going through a difficult time, I think a lot of what clients really want is for us just to listen. They just want an ear. They want somebody to say, ‘You’re going to be okay.’ They don’t need us to predict what the S&P 500 is going to do this year, or what the 10-year Treasury yield is going to be on 12/31. A lot the time they just want us to say, ‘You’re okay. We have a financial plan, we’ve modeled this out, and you are going to be okay.'”

The Power Of The Plan In An Uncertain Market [Caleb Silver, Investopedia Express]

Penny Phillips offers counterarguments to a number of generally-accepted industry practices [Video or Article]:

“As an advisor, it’s easy to get distracted by noise in our industry. Every day you are inundated by hundreds of articles, blogs and webinars telling youwhat you have to do in order to build a successful business. What this advice often fails to include is the disclaimer that what works for one advisor may not necessarily work for you. There are many different ways to build a practice today and just because one strategy seems to be trending right now in our industry, doesn’t mean it requires your focus this year.”

Four Business Myths Advisors Can Ignore This Year [Penny Phillips, WealthManagement.com]

FMG Product Marketing Manager Niki Clark on the principles behind her exceptional social media engagement, the effectiveness of ungated content, and more [Podcast]:

“If we help people, that’s what gets them coming back. Gated content does not get people coming back – at all. What gets people coming back is ‘Oh my gosh, you really care about me. You’re listening to me, you’re understanding me, and you want to help with no strings attached.’ That’s what works.”

Generosity, Humility, & Intimacy: The Advisor’s Essential Guide To LinkedIn Relationship-Building With Niki Clark [Matt Halloran, Top Advisor Marketing Podcast]

“Frugality Inertia,” “Social Aspiration Spending,” and more – Morgan Housel on the art of spending [Article]:

“Behavioral finance is now well documented. But most of the attention goes to how people invest. Welch’s story shows how much deeper the psychology of money can go. How you spend money can reveal an existential struggle of what you find valuable in life, who you want to spend time with, why you chose your career, and the kind of attention you want from other people.

There is a science to spending money – how to find a bargain, how to make a budget, things like that.

But there’s also an art to spending. A part that can’t be quantified and varies person to person.”

The Art And Science Of Spending Money [Morgan Housel, Collaborative Fund]

Which was your favorite takeaway? Comment below!

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