Weekend Content for New Planners

Weekend Content for New Financial Planners (May 20-21, 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.

From how to pick a niche and decide on a compensation model to allocating your time and building your tech stack, Jason Wenk and Dasarte Yarnway cover nine things advisors wish they knew before launching their own firm [Podcast]:

“What I find is that I’m severely undercharging. Because a lot of the things that entrepreneurs were asking me to do were time intensive. So, I found myself figuring out what are the biggest pain points for these entrepreneurs that I seek to serve—then mastering that knowledge. After that, putting a price to it. So, I think there are a couple of things at play here. You have to select who you want to work with. Because you can build an entire practice with one, specific ideal client profile in mind. That will lead you to the type of tech you need, the type of your support you need, almost like what conferences to go to—everything you should be doing should be surrounded around this niche client. Then, once you have that, you’re able to price it.”

Nine Things Advisors Wish They Knew Before Starting Their RIA With Jason Wenk And Dasarte Yarnway [Jason Wenk & Dasarte Yarnway, The Advisor Journey]

Barry Ritholtz on how to think about creating compelling content marketing (Note: Barron’s Advisor offers a free subscription for industry professionals) [Article or Podcast with Transcript]:

“And now I could tumble that out very, very quickly. But it’s a lot of work in the beginning. So the first question is, are you willing to put in all that hard work? The second question, and perhaps the more important one is, what do you have to say? You can’t really fake it on the naked page. If you’re speaking and exposing yourself, if you’re writing and sharing your thoughts and ideas, you can’t wing it. There has to be some substance and passion there. A lot of people I’ve spoken with have said, ‘Gee, I’d love to set up a blog for the firm, but I’m not sure what I would talk about.’ And sometimes I tease it out. ‘What’s your focus? Who are your clients? What do you work on?’” 

Barry Ritholtz: How Advisors Can Create Killer Content [Greg Bartalos, Barron’s Advisor]

Carl Richards shares context on several of his most popular sketches, how to effectively communicate with clients who are scared about their portfolio, and what “real financial planning” actually means [Video or Podcast]:

What Real Financial Advice Means [Peter Lazaroff, The Long Term Investor]

New Planner Recruiting’s Caleb Brown on how to maximize your internship and what to expect from the experience [Article]:

“Tasks and responsibilities in the financial planning industry, like most others, require a combination of work styles. There will be times that you are tasked to work independently and others where you are working as a team; in both scenarios, it is imperative to take initiative and ownership. Taking initiative will allow you to guide the trajectory of your internship and to maximize your experience working with the company. Taking initiative is a small step that can go a long way and may be exemplified by volunteering to take notes, requesting constructive criticism, actively participating in conversations, asking where you can provide extra assistance, inquiring about further learning opportunities and/or potential continuing education opportunities.”

Maximizing Your Internship [Caleb Brown, New Planner Recruiting]

Whether you are trying to facilitate a change in your own career (or personal life) or helping clients do the same, Wall Street Journal bestselling author Scott Young on the factors behind creating a “new version of yourself” [Article]:

“Given that many of us would like to have a sudden, positive shift in the direction of our lives, is there anything we can do to facilitate this kind of transition?

I’m not sure. While I’ve witnessed it many times, the change itself happens as a by-product of something else rather than the person actively seeking it out.

However, I do think there are a few generic ingredients that may increase the likelihood of such a change…”

Some Thoughts On Becoming Self-Actualized [Scott Young, ScottHYoung.com]

Which was your favorite takeaway? Comment below!

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