Weekend Content for New Planners

Weekend Content for New Financial Planners (January 15-16, 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.

FiComm Partner’s Megan Carpenter covers all things “authentic marketing” including [Podcast]:

  • What “authentic marketing” actually means
  • An exercise for clarifying and leveraging your own story and authenticity
  • How authenticity can relate to your niche
  • And more…

“Every advisor I’ve ever talked to has such a cool story. They don’t tell that story right away. You have to keep asking ‘But why?’ ‘But why? Tell me more about that.’ You have to dig really deep to get there, but if you do, the alignment that you’ll find is life-changing for your business. … The alignment you can find will you give you so much success beyond just marketing success.

So, just having that courage and confidence [about] ‘This is who I am, this is why I do what I do and this is who I want to work for.’ – that’s how you’re going to unlock that authenticity.”

New-School Communications: Adviser Marketing With Megan Carpenter [Jeff Benjamin & Bruce Kelly, The InvestmentNews Podcast]

Luis Rosa and Alex Cavalieri discuss the importance of sharing personal stories, how to build brand, and more [Podcast]:

“‘What would you do if you won the lotto?’ Everybody would tell me how they would spend the money. Nobody ever said ‘Hey, this is how I would invest it or save it.’ No, it was ‘I would buy this, I would buy that.’ That was the mentality that I had.

So, the way that helps me in my practice today, is it goes down to empathy. It makes me more empathetic to my clients’ situations. We as advisors have to have a safe space for people to not feel judged and be able to truly be themselves.”

Ways To Build Brand And Cut Through The Noise With Gen X And Gen Y [Alex Cavalieri, The Advisor Lab Podcast]

How to navigate a “VUCA” world [Article]:

“People are spent. As we collectively brace for what is waiting for us the next twelve months, even atheists are desperately praying that we aren’t stepping into 2020, Same Song, Third Verse. The last two years handed us a lot of hard lessons we didn’t sign-up for. Many of them are valuable, yes. Still, we’re tired of learning and desperate for a break. As we contemplate how best to move forward, we have to figure out how to find our way in a VUCA world.”

Finding Our Way In A VUCA World [Joy Lere, Finding Joy]

If you need convincing on the value of focusing on a niche, Michael Kitces dives into why niches work [Podcast with Transcript]:

“At the end of the day, success, to me, over the next 10 years is going to be increasingly about how you get more focused on something that you can be awesome at. As you frame it, deliver massive value. Really deliver a unique, massive value. Because just doing value at scale, like the Fidelitys and Vanguards and Merrill Edges of the world are going to do it at scale and they’re going to do it cheaper than any of us do it.

So just doing a thing repeatedly at scale systematized alone won’t be enough, even if it’s going to be valuable, because if it’s valuable they’ll copy it. The unique opportunity that virtually all of us have as independent advisors is firms at that size, like the Vanguards and Schwabs and Fidelitys of the world, they think in terms of ‘Okay, how many tens of billions of dollars is on the table in this segment?’ If there’s not that much money on the table, it’s like, Vanguard is never going after the bass fisherman. There aren’t enough of them on the planet to move the needle for them. So they only think in terms of giant broad slices.

We get to win by taking narrow slices, which works fine because you can be wonderfully successful at 50, 100 great clients and they need like ten thousand at a time to get their needle. So getting comfortable and committed and being focused is first and foremost like it’s a mindset shift, as you frame it, it’s a head trash thing of letting go. I mean, like just let’s get really clear: if you make something that 99.99999% percent of the world hates, you will make more than a million dollars.”

The Godfather: Michael Kitces [Episode 136] [Matthew Jarvis, The Perfect RIA]

Reasons to begin looking for a new firm [Video]:

How To Know When It Is Time To Move On [Caleb Brown, New Planner Recruiting]

Whether financial advisors should also conduct life coaching-like conversations [Article]:

“The best advisor is one who cares enough to ask the hard questions and to stay open-ended and to listen like a good therapist would do. You are not trying to psycho-analyze the why about the values, which is what the therapist is trained to do. You are just trying to understand the what so you can align the how.

To get good at this, you don’t need to go back to school for the psychology degree. You simply need to be interested and curious and care a bit more about matching the solution to the underlying problem your client is trying to solve.”

Should Advisors Be Therapists And Life Coaches? [Beverly Flaxington, Advisor Perspectives]

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