Weekend Content for New Planners

Weekend Content for New Financial Planners (March 5-6, 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.

Kitces.com researcher Dr. Meghaan Lurtz and Dr. Daniel Crosby cover [Podcast]:

  • A client questioning framework that progressively builds trust and encourages clients to open up
  • How to use the “Peak-End” rule to improve client outcomes
  • Helping clients forecast goals they will actually enjoy
  • How advisors can take better care of themselves as they take care of clients during volatile times
  • And more…

“We’re better at being human to each other when know the structure of the way that things move forward. I think the questions relate to that. Advisors want to build trust, in many ways, need to build trust quickly. So, understanding that progression and asking questions that encourage that would be really, really great.”

Dr. Meghaan Lurtz – The Empathic Future Of Financial Advice [Dr. Daniel Crosby, Standard Deviations]

The power of the mere-exposure effect, aka, “brand familiarity” in marketing [Article]:

“Some shortcuts may produce quicker, albeit temporary, results (read: a wave of prospect appointments or other exciting metrics).

‘Well, Robert, of course I’d welcome a huge influx of prospect appointments,’ you say. But success as a byproduct of shortcuts isn’t sustainable.

Think of individual marketing initiatives like fireworks — they’re exciting, but they don’t last. Brand familiarity, on the other hand, is like the warm rising sun. It rises slowly, but is far more enduring and powerful.”

The Subconscious Power Of Brand Familiarity [Robert Sofia, InvestmentNews]

Values-based niches: how financial adviser Jake Northrup’s own interest in travel led to specializing in travel-loving millennials [Article]

“Northrup launched his niche advisory firm in 2019 after spending a half-dozen years managing three dozen clients at an RIA in Boston.

The idea for his niche came to him when he realized he wanted to work with people who share his values and have similar demographics.

And in terms of walking the talk, Northrup and his wife recently spent $20,000 on a trip to Antarctica, instead of using that money to buy a house.

‘The trip is more important to us and aligned with our values more than buying a home,’ he said.

Have Financial Adviser, Will Travel [Jeff Benjamin, InvestmentNews]

The benefits of declining prospective clients outside of a specialty [Article]:

Most successful financial advisers really care about their clients and go above and beyond in their service to them. That’s commendable, but if you’re not careful — disciplined — you’ll add a layer of complexity that makes it almost impossible to grow and scale.

When I first started advising 30 years ago, when someone would ask me, ‘What do you sell?’ my response would automatically be, ‘What do you need?’

Like most inexperienced advisers, I was young and hungry and did just about whatever it took to add clients.

When Saying No Means Everything [Scott Hanson, InvestmentNews]

Leveraging visuals to more effectively communicate across email, websites, and social media [Video]:

Financial Advisor Content Ideas: 3 Great Visual Examples Proven To Improve Your Marketing [Samantha Russell, Twenty Over Ten]

Dasarte Yarnway with tactics for scaling a growing RIA [Article]:

“With 25 million new investors entering the market, and even more playing hypothetical double dutch, the opportunity to deliver impact and sound financial advice is greater now than ever before. With veteran advisors selling their businesses, new technology entering the financial services ecosystem, and new alternative investments becoming more popular amongst all investors, the advisor of the future is positioned to make their mark on the industry for years and years to come.”

Tips For New Financial Advisors: 8 Ways To Scale Your Growing RIA [Dasarte Yarnway, Altruist]

Which piece of content did you like? Comment below!

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