Weekend Content for New Planners

Weekend Content for New Financial Planners (March 25-26, 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.

Experience Your Wealth founder and financial planner Jake Northrup on using a values-based approach to find his niche client, the skills he is glad he developed before launching his firm, and how he grew to $500k in annual recurring revenue in 3.5 years [Podcast or Video]:

“Having the ability to do one-time plans, knowing, and I’ve actually shared this with some other XYPN advisors too, you don’t want to take on the wrong people for ongoing relationships. But it’s okay to take on the wrong people for a one-time plan. Right? So getting some of those reps and feeling confident in the business and just building up your reputation. So, my first year I had 17 ongoing clients by the end of the year, but I did 25 one-time plans. And those are things that I can dial down in the future, which I did.

Just gave me a confidence boost from a revenue perspective. It built up reputation, it built up referrals. But I’m glad I, and learning from others on this podcast, I didn’t take the wrong people up front for those ongoing relationships. So I kind of kept those spots for our target client.”

The ROI Of Using A Values-Based Approach To Gain Traction With Your Ideal Client [Alan Moore, XYPN Radio]

StoryBrand founder Donald Miller shares his 5-part framework for increasing prospective client conversions [Podcast]:

“Research shows that 97% of people distrust salespeople. Why? Because most salespeople try to talk people into buying their product regardless of whether or not the customer needs it. But good and honest salespeople know this: sales isn’t about convincing people to buy your product. It’s about inviting your customer into a story where their problem gets solved.”

How To Boost Your Sales (Without Being a Pushy Salesperson) [Donald Miller, Business Made Simple]

ICYMI: Michael Kitces and Carl Richards on the benefits of crafting a marketing “manifesto” [Podcast or Video]:

Kitces: “Carl has a marketing system that works. So, maybe a manifesto isn’t quite your thing. Go see what it’s like to go through someone else’s marketing process, marketing experience, and just see what you learn when you’re on the receiving end of a thing that works. It might not be for you, and it might not connect with you, but I find just for me, I get a lot of ideas about how to leverage marketing way more than going to marketing seminars and marketing events and stuff like that.

If you want to see marketing that works, sign up to buy things from people who have marketing systems that have clearly worked, and go through their actual experience, and see what they do and what road they take you down. So, I don’t know, if you’re at all curious about what manifestos look like, go down, take this journey, and see what it’s like to go down this journey.”

Kitces & Carl Episode 108: Crafting A (Marketing) Manifesto To Show What You Really Stand For [Michael Kitces & Carl Richards, The Nerd’s Eye View]

Research-backed tips on what actually makes people happy [Article]:

“I have to admit that I love these types of books and studies about happiness. They help reinforce the paradox of happiness in that the stuff we think will make us happy often doesn’t.

Happiness is a complicated topic because when you ask people what they want out of life the answers typically involve career achievements, financial goalposts or status.”

The Happiness Paradox [Ben Carlson, A Wealth Of Common Sense]

As financial planners, we urge clients to track their expenses to better align their spending with their values. Wall Street Journal bestselling author Scott Young on tracking an arguably more valuable asset: time [Article]:

“One difficulty of gaining focus is that we rarely know where our attention goes. How much time do we spend on email versus doing our most valuable work? How much time do we spend scrolling social media versus seeing our friends in real life? We feel overwhelmed studying for a big exam, but how many hours went to actual studying, and how many were spent just worrying about it?

For most of us, we don’t know. Without knowing where our time goes, how can we possibly improve it?”

The Underrated Usefulness Of Taking A Time Log [Scott Young, ScottHYoung.com]

Which was your favorite takeaway? Comment below!

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