Weekend Content for New Planners

Weekend Content for New Financial Planners (July 29-30, 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.

Justin Castelli shares the principles and framework that guided his career, how to create your personal brand, and more [Podcast]:

“I think that’s an important part to understand: where you start is not necessarily where you are going to end. And as a financial advisor, it’s almost certainly not going to be where you end. Because you don’t know what you don’t know when you come into this industry. Depending on what part of the business you come into. I came into the insurance channel. You get educated on one way of being an advisor, and if you never get outside of that, you never know.”

The Simple Framework That Led To More Freedom And Growth With Justin Castelli [Jason Wenk & Dasarte Yarnway, The Advisor Journey]

3 tips for building more effective relationships with centers of influence [Article or Video]:

“To build powerful—and reciprocal—relationships with COIs, you must be highly intentional about who you are choosing to partner with, what information you’re sharing with them, and how you’re nurturing the relationship.

If you are worried about coming off ‘salesy,’ shift your thinking. You play a critical role in the life of each family you serve. There is nothing salesy or wrong about telling others that you want to help more people secure their retirement and master their financial situation. Remember that the professionals you are speaking to are in the same position as you in terms of needing to grow their business through referrals and introductions.”

Why COIs Don’t Refer Business [Penny Phillips, WealthManagement.com]

If you’re considering obtaining an industry designation, some advice and stories to help you make a more informed decision [Podcast]:

“I was competing for some business. A client comes back and says ‘Hey, this recommendation looks great. Do you have your CFP? The other advisor has their CFP and I want to make sure that you have that, because shouldn’t you all have that?’ So, the client says that to me and I’m like ‘Uhh, umm…’ and I had to start backpedaling. So, that put me on the search to go and get after the designation.

For me, it was a big kind of blow. It was the first time somebody told me they didn’t want to do business with me because I didn’t have that designation. At the same time, I think it was a blow to my professional confidence more than anything else. I was like ‘I’ve got to get this now—it’s the cost to play in the game.'”

To Get A Designation Or Not [Emlen-Miles Mattingly & Dasarte Yarnway, Allies Of The Industry]

A reminder of the importance of setting expectations with clients throughout onboarding and servicing [Article]:

“Having advised clients for more 30 years, I have journeyed with people who have had phenomenal results with me during our first year together and others who have been extremely frustrated. By setting realistic expectations up front, the results have never been a complete surprise, and so I will often remind folks of the conversation we had at the start of our relationship.

While that helps set expectations for their investment performance, I have found it’s equally important to set expectations as to what services I will provide, what services I won’t provide and what our communication cadence will be.”

How Communicating Expectations Makes A Good Advisor [Scott Hanson, InvestmentNews.com]

Website design best practices, which website pages get the most traffic (and deserve more effort), and more [Video]:

How Can You Make Your Advisor Website Standout? [Samantha Russell, FMG]

Which was your favorite takeaway? Comment below!

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